Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Tesla plans energy trading team as company expands battery projects

Published 09/08/2021, 03:49 PM
Updated 09/08/2021, 06:51 PM
© Reuters. The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs
TSLA
-

By Liz Hampton and Hyunjoo Jin

(Reuters) -Electric vehicle maker Tesla (NASDAQ:TSLA) Inc is looking to staff an energy trading team to support its battery and renewable power projects, according to Tesla's website and an employee post on the career site LinkedIn.com.

The company has expanded operations to include home solar and large battery storage facilities, which currently account for a small portion of its total revenue. It also recently applied to begin marketing electricity in Texas.

"I'm building a new team at Tesla focused on Energy Trading and Market Operations," according to a LinkedIn post https://www.linkedin.com/feed/update/ this week by Julian Lamy, who described himself as a senior optimization software engineer for Tesla.

Tesla did not immediately respond to a request for comment.

"Tesla Energy is on their way to becoming a distributed energy provider at the residential level as well as utility scale," said John McClellan, a managing director at recruitment firm Aurex Group.

The company plans to use an in-house automated trading platform, called Autobidder, for "bidding batteries into multiple wholesale energy markets," according to the job description on Tesla's website.

The job requires expertise in wholesale electricity markets, and the candidate will "lead trading and real-time operations for battery, solar, and wind projects participating in wholesale energy markets," using Autobidder, according to the job posting.

The senior energy trading analyst position will be based in Palo Alto, California, according to the posting.

Last month, Tesla Energy Ventures applied to the Public Utility Commission of Texas to become a retail electric provider.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.