Tesla Power USA to deploy $1 bn in India over next 2-3 years

Tesla Power USA on Thursday said it will lease battery energy storage system (BESS) worth USD 1 billion under its new 'power as a service' model in the next two to three years. The company said that it will contribute to the increasing energy demand in India by providing BESS on a leasing model to Indian companies, converting their capex investment into OPEX (operational expenditure).

"Tesla Power USA, the fastest growing brand of batteries in India, plans to deploy USD 1 billion (Rs 7,500 crore approximately) in India in the next two to three years offering its unique OPEX-based model 'Power as a Service' (PaaS)," a company statement said.

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.