London based India-born billionaire Sanjeev Gupta has launched a renewable energy facility worth $1 billion in South Australia. The construction will begin in early 2019, for which it will employ 360 workers. Sanjay Gupta Launches $1 Bn Renewable Energy Facility in Australia. The solar project, with a 280 megawatts capacity, will generate 600 gigawatt hours of power per year, which is equal to around 1 percent of Australia’s annual power. It will be set up in 1,100 hectares, about 550 times larger than Adelaide Oval.
Sanjay Gupta Launches $1 Bn Renewable Energy Facility in Australia. The one-gigawatt project will feature 780,000 solar panels and generate electricity for 96,000 homes.
The first of the many renewable energy projects planned for the upper Spencer Gulf region in the country would be the Cultana Solar Farm. The venture, by Gupta’s energy farm company Simec Zen, was launched recently by South Australian Premier Steven Marshall, Whyalla Mayor Lyn Breuer, and Simec Zen Energy Chairman Sanjeev Gupta.
Gupta said that the event is symbolic of their desire to develop and invest in new‐generation energy assets that will bring down Australia’s electricity prices to competitive levels again, as well as their commitment to local and regional Australia.
The project, together with Simec Zen’s upcoming second solar project nearby, will make this one of Australia’s largest solar farms, Gupta added.
The other projects in the pipeline include a cogeneration plan at GFG’s Whyalla Primary Steel plant using waste gas, the world’s largest lithium‐ion battery, and pumped hydro projects at Middleback Ranges mining operations.
All of these projects will not only improve reliability and greatly reduce the cost of electricity in their own operations, they will also provide competitive sources of power for other industrial and commercial users, while at the same time playing a key role in the market’s transition towards renewables.
Last year, Gupta acquired a controlling stake in the Adelaide-based Zen Energy for an undisclosed sum. Read more