Elon Musk says Tesla is building the largest battery system in the world within 100 days — or it's free

CNBCTesla has agreed to build the world's largest lithium-ion battery storage project in South Australia, billionaire founder Elon Musk said on Friday.

The electric car company, which also makes the Tesla Powerpack storage battery, outbid 91 other companies to win a contract to install a 100 megawatt facility. It will partner with French renewable energy firm Neoen, and get energy from their Hornsdale Wind Farm near Jamestown, South Australia. The facility will be able to power 30,000 homes.

Tesla's Powerpacks will charge using the energy produced from the wind farm and then deliver electricity during peak hours.

Musk announced the partnership at a press conference in Australia, followed by a tweet, in which he said the energy storage facility will be three times bigger than any on the market at the moment.

Read more at CNBC.

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