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Tesla Secures Arizona Solar Power Deal
28 Jul
Summary
- Tesla will purchase 90% of the electricity output from Project Sterling.
- The solar and battery project is backed by KKR & Co.
- The facility is scheduled to begin operations in 2028.
Tesla Inc. has finalized a long-term power purchase agreement with ContourGlobal, a developer of renewable energy projects. This deal involves the acquisition of electricity from Project Sterling, a substantial solar and battery storage facility located in Arizona. KKR & Co. is a financial backer of this significant undertaking.
Under the terms of the agreement, Tesla will procure 90% of the total energy output generated by Project Sterling. This facility is anticipated to become operational starting in the year 2028. The strategic partnership underscores Tesla's commitment to securing clean energy sources for its operations and advancing its sustainability goals.
