Israel’s Nofar Energy is expanding their relationship with Tesla Energy by ordering another 200 megawatts (MW) of Megapack battery energy storage systems.
The agreement, worth $54 million, is the second one between the companies this year. In March the company placed a $30 million order for 100MW of energy storage.
The Israeli energy company has already taken delivery and installed most of the Megapacks from the order earlier this year. Based on the fast pace of construction and increased demand for energy, Nofar decided to place a second order to beef up their capacity.
According to the terms of the deal announced by Nofar, the company will pay 5% upfront, and pay the remaining balance at predetermined project milestones.
Nofar will take delivery between January 2023 and March 2024.
The company plans to open the first Tesla storage system installed in Kibbutz Shoval next week. Tesla executives and representatives from Israel’s Energy Ministry and Electric Authority are expected to attend the special ceremony.