Tesla stock
Tesla entered into a major long--term power purchase agreement (PPA) with ContourGlobal on August 3, 2026. Key highlights of the contract include:
- Energy Procurement: Tesla will receive approximately 1 terawatt--hour (TWh) of renewable electricity per year.
- Project Details: The power will be sourced from Project Sterling, a hybrid solar photovoltaic and battery energy storage system (BESS) in Arizona.
- Market Significance: The agreement covers roughly 90% of the project's annual output, making it one of the largest corporate PPAs for a single solar--plus--storage facility in the United States.
- Strategic Objective: This contract is designed to provide sustainable energy for Tesla's manufacturing operations and Supercharger network, reinforcing the company's vertical integration and carbon--neutrality mandates.