Bitcoin’s ‘Calm Before the Storm’ — Volatility Dips as US Election Looms Tesla is on track to support two new energy storage projects in Australia with its Megapack grid-scale batteries, each boasting 200MW/400MWh capacity. Proposed by Ausgrid, the projects in Newcastle and Sydney aim to enhance renewable energy reliability and are set to launch in 2025. Tesla Megapacks to Power New Energy Storage Sites in Sydney and Newcastle by 2025 With plans for two sizable energy storage projects in Australia, Tesla is expected to secure two new contracts for its Megapack grid-scale batteries. Utility provider Ausgrid has proposed two Tesla Megapack projects with 200MW/400MWh capacity each. According to Renew Economy, they are expected to be built in Newcastle, New South Wales, and close to Sydney. Both will be built on property that Ausgrid currently owns, with the Sydney site being in the Homebush neighborhood. While the Homebush facility is moving into an empty lot designated for electrical supply projects, the Megapack projects in Newcastle will be developed at the Steel River industrial complex. According to the electricity supplier, the project will be built mid- to end-of-2025. The announcement coincides with the launch of Tesla's most recent Megapack-backed battery energy storage systems (BESS) in Australia, including a recently completed project in Western Australia with a capacity of 219MW/877MWh. Tesla Hits 10,000 Megapack Milestone, Boosts Production and Profit with New Global Projects One of the most significant four-hour battery projects now underway in the world is a 415MW/1660MWh battery project in the Central West Orana Renewable Energy Zone (REZ) in New South Wales, which Tesla is also supporting. Another 150MW/300MWh project in New South Wales was initiated on the Wiradjuri territory last October and is being overseen by Shell Energy, Edify Energy, and Federation Asset Management. With its facility in Lathrop, California, just surpassing a milestone of constructing 10,000 Megapacks to date, Tesla Energy is deploying Megapacks like crazy. It is unsurprising that Tesla has been enjoying excellent margins on its energy products and is presently developing a second factory in China to produce the Megapack, given that these and several other BESS initiatives are being proposed and implemented globally this year. During its most recent Q3 results call, the firm emphasized that in addition to announcing a production level of about 200 Megapacks per week, Tesla's energy division earned a record gross profit margin of 30.5 percent during the quarter. Editor's Picks