Tesla Partners with Israel’s Nofar Energy on Power Storage Project

Tesla’s operations are already off to a swift start in Israel, where the company is reportedly starting a new energy storage project.

On Monday, Israeli green technology company Nofar Energy announced a partnership with Tesla, which will supply $30 million worth of battery storage systems, reports Globes.

Tesla’s energy storage systems are expected to store at least 100 megawatts, with a potential future capacity of up to 150 megawatts.

The initial systems are expected to be in place by the end of 2021, with power capacity expected to increase around March 2023.

Tesla has already been installing power storage operations around the world, though this is set to be the company’s first major project of its type within the country. Similarly, Tesla only began selling its cars in Israel earlier this year.

Nofar Energy predicts the total revenues from this project to be NIS 534 million (~$162 million USD) with the sale of electricity expected to generate NIS 50 million (~$15 million USD) in revenues and the maintenance of the system expected to cost roughly NIS 10 million (~$3 million USD).

Tesla also began construction on Tel Aviv’s first V3 Supercharger earlier this month, with subsequent charging stations planned later this year in Haifa, Eilat, and Be-er Sheva.