US electric car maker Tesla signed an agreement on Friday for its first grid-side energy storage project in the Chinese mainland, according to a statement the company sent to the Global Times on Friday.
"The grid-side energy storage power station is a ''smart regulator'' for urban electricity, which can flexibly adjust grid resources," Tesla said on Weibo, according to a Google translation. This would "effectively solve the pressure of urban power supply and ensure the safe, stable and efficient electricity demand of the city," it added.
"It will enhance grid flexibility and help integrate renewable energy in the Lingang New Area, supporting Shanghai''s seasonal power demands and regional energy security," Dong said. Construction of Tesla''s energy storage Megafactory started in May 2024.
The project will be a model for international energy cooperation, attracting more global enterprises to participate in China''s green energy transition, and sharing Chinese development opportunities, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Friday.
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