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Tesla to Build World's Biggest Lithium Ion Battery 

"Failing to hit the deadline would cost Tesla "$50 million or more", he said.

"It will completely transform the way in which renewable energy is stored, and also stabilise the South Australian network as well as putting downward pressure on prices", he said.

The battery farm is created to stabilise the South Australian energy network and provide emergency power back-up.

It is not yet known whether Mr Musk's tweet has formed part of the contractual agreement between Tesla and the state of South Australia.

The South Australian government was prompted to find an energy storage solution after a series of blackouts in late 2016 left more than 1.7 million residents without power for extended periods.

Completion is expected before the end of the year, with Musk saying he hoped the Tesla Powerpack would make a "significant statement for the viability of renewable energy to the world".

For those in need of a refresher: back in March, Tesla vice-president Lyndon Rive garnered nationwide attention for his claims that the company's batteries could single-handedly solve our state's energy problems.

Tesla will partner with French renewable energy company Neoen to build the 100-megawatt battery farm in South Australia state. It will be three times more powerful than any other battery system.

The post Tesla Inc (NASDAQ:TSLA) to Install World's Largest Lithium Ion Battery in Australia appeared first on Market Exclusive.

"We actually insisted when doing the contract that we be held to the 100 days or it's free", Musk said.

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It's the third consecutive week that the Ann Arbor area had the highest average. The Detroit-area's average dropped by about 2 cents to about $2.33 per gallon. C&C Group PLC's (CCR) Sell Rating Reaffirmed at Shore Capital
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