From Bloomberg, July 18:
- Site will be able to power up to 170,000 homes for two hours
- Building has started and the site will come online next year
UK developer Harmony Energy Ltd. has begun construction on France’s biggest battery storage facility, boosting the country’s ability to store green electricity when it’s plentiful for use later when it’s needed.
The 100-megawatt Cheviré battery project in the western city of Nantes will use Tesla Inc.’s Megapack product and be able to power 170,000 homes for two hours, the company said. The facility, on the site of an old power station that burnt fossil fuels for more than 30 years, will provide critical balancing services to the grid and enable the shift to renewable energy.
France’s network operator said last year the country will need more flexibility such as battery storage and tools to shift demand away from peak hours as more intermittent renewables are added to supplement the country’s nuclear fleet....
....MORE
This battery energy storage system will be slightly larger than the project just energized in Britain, the Fotowatio/Harmony Energy Clay Tye battery which is currently the largest of its type in Europe.
If interested see July 11's:Adam Jonas, Morgan Stanley's Auto Analyst Raises His Valuation Of Tesla's Energy Business, Lowers Valuation Of Auto Biz (TSLA)with the embedded links:
July 5's The Big Money In Tesla's Energy Storage Business (TSLA) and June 26's "Morgan Stanley Analyst Adam Jonas Writes A Love Letter To Tesla (TSLA)" and the links embedded therein which began with:
A confession of bullish bias up front, from April 24's "Tesla Q1 2024 Earnings Call Transcript (TSLA)":
In pre-market action the stock is up $17.47 (+12.07%) at $162.15.
Below are the words that are adding billions ($50+) to the company's valuation.
Personally I think Musk is going to pull it off, but that's just me—perhaps informed by posting on the company and its stock since before the June 2010 share flotation (which, adjusted for the 5:1 and 3:1 stock splits gives a $1.133 IPO price)—however, there are plenty of other opinions to choose from if one doesn't care for that one....
And going back to a January 2023 post:
One of the more interesting bits in the 8K filing (and slide deck) was "Energy Storage" up 152% year-over-year in Q4. Elon is successfully building an entire new business inside of Tesla.
The "successfully" was underlined in the original.
And related:
June 26 "Tesla Delivery Results Are Coming. Brace for More Bad News" (TSLA) plus more NvidiaI don't think the market cares at the moment. It's a sort of looking across the valley to see the highlands opposite sort of thing.
