Tesla Power USA to lease BESS worth $1 billion in next 3 years – EQ Mag Pro
In the next two to three years, Tesla Power USA plans to lease a battery energy storage system (BESS) worth $1 billion under its new ‘power as a service’ model. The company stated that it will contribute to India’s rising energy demand by leasing BESS to Indian businesses, transforming their capex investment into OPEX (operational expenditure).
“Tesla Power USA, India’s fastest growing battery brand, expects to invest USD 1 billion (about Rs 7,500 crore) in the next two to three years in India, delivering its unique OPEX-based model ‘Power as a Service’ (PaaS).”
Tesla Power USA has completed its first year in India. “We are adding the PaaS model vertical to our business plan to help convert the CAPEX into OPEX.
This will reduce the burden of upfront investment, maintenance and replacement of batteries for a long duration thus empowering India to meet its growing energy demands,” said John H. Vratsinas, Chairman, Tesla Power USA.
The company sells more than 132 products through its 500 exclusive Tesla Power Shops (sales and service centres) and more than 5,000 multi-brand retailers in India. The company has recently opened offices in Dubai to cater to the Middle East and African markets.
Source: PTI
