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Tesla and independent energy company NatPower have signed a major agreement to develop 25 gigawatt hours (GWh) of battery energy storage capacity across Italy and the United Kingdom, marking the first phase of a project valued at up to $5 billion.
The partnership comes as European countries accelerate investments in battery storage solutions to support the growing integration of renewable energy sources such as wind and solar power. Energy storage systems play a crucial role in balancing electricity supply and demand, helping manage the intermittent nature of renewable generation.
Under the multi-year deal, NatPower will deploy Tesla’s Megapack battery storage technology, one of the world's leading large-scale energy storage systems. The agreement also includes the use of Tesla’s advanced energy trading software, which helps optimize electricity purchases and sales by determining the most efficient times to trade power.
The companies plan to begin with five initial battery storage projects. These developments represent the first stage of a broader program that aims to surpass 100 GWh of total storage capacity in the future. According to Tesla and NatPower, the overall construction investment for the full program is expected to range between $4 billion and $5 billion.
Beyond infrastructure development, the project is projected to generate more than $15 billion in revenue over the next two decades, highlighting the growing commercial opportunities within the energy storage sector.
NatPower CEO Fabrizio Zago said the industry already has access to both capital and advanced technology but often faces challenges in delivering projects on schedule and at scale. He noted that the collaboration with Tesla has created an operational framework that aligns investment with project execution, providing a model that could be replicated in other markets.
The agreement underscores the increasing demand for battery energy storage systems in Europe as governments and businesses work to strengthen grid reliability and accelerate the transition to clean energy.
