The first project in a US$1 billion nationwide renewable energy program has been launched near Whyalla, in South Australia, as part of a push to bring down Australia's electricity prices.
Sanjeev Gupta's SIMEC ZEN Energy has launched a $1 billion, one-gigawatt dispatchable renewable energy program
It will comprise of many renewable energy projects, including co-generation at the Whyalla steel plant
The first project, Cultana Solar Farm, could power almost 100,000 homes
The 280-megawatt Cultana Solar Farm will begin construction in early 2019, employing 350 workers during construction and providing greater energy security to the Whyalla Liberty OneSteel steelworks.
Billionaire Sanjeev Gupta said the investment by his company, SIMEC ZEN Energy, formed part of his firm belief there was a great future for energy-intensive industries through a transition to more renewable energy.
"Solar will be the main base of our ambitions in Australia but we will have some wind and we have lots of storage solutions," Mr Gupta said.
"So together that gives us the ability to offer dispatchable baseload power at prices cheaper than other forms of power."
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