- Tesla signed a long-term PPA to buy the full output of a 140-MWac solar farm in Texas, built by EQT-backed Zelestra.
- Construction starts in 2027 with operations by 2029; no pricing disclosed; power likely for Gigafactory Texas and AI compute.
- This is the second deal between Tesla and Zelestra — first in the U.S. after a 57-MWac PPA in Spain in 2024.
- Zelestra ranks among top global renewable sellers; also supplies solar to Meta in Texas via multiple PPAs.
- Tesla now competes with hyperscalers for Texas solar, driven by surging electricity demand.
- Tesla could have built the solar farm itself but relies on external supply due to decades of neglect of its solar business.
- SolarCity acquisition ($2.6 billion) saw deployment drop from 870 MW to a fraction; Tesla is now rebuilding with leasing, U.S. panels, and a Houston factory.