[Tesla to Procure Power from KKR-Backed Solar Cell Plant in Arizona]

Published: Jul 29, 2026 09:50

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Developer ContourGrid said Tesla (TSLA.O) has entered into a long-term power purchase agreement with a solar and battery project in Arizona backed by KKR. KKR will sell 90% of the electricity from the Sterling project to Tesla, according to a statement. The project, which includes 509 megawatts (MW) of peak solar power generation and 360 MW of four-hour battery energy storage, is planned to start operations in 2028. The deal is rare for Tesla, highlighting the growing need for "power purchase agreements" as AI-driven data center expansion tightens the US market. Other technology giants have been participating in such contracts for years and have been a major driver of the solar and wind boom over the past decade. Combining renewable energy projects with battery technology has become one of the quickest ways to bring new capacity online, especially in regions where utilities are struggling to meet rising demand.

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