Metal tycoon Sanjeev Gupta to leapfrog Elon Musk with world’s biggest battery
Simec Zen Energy has agreed to build a 120-megawatt lithium-ion battery at in South Australia, the size of which would exceed Elon Musk’s 100-megawatt unit in the state
Sydney: Sanjeev Gupta plans to snatch the world’s biggest battery crown from Tesla Inc. founder Elon Musk.
Simec Zen Energy, controlled by the UK executive’s GFG Alliance, agreed to build a 120-megawatt lithium-ion battery at Port Augusta in South Australia, state premier Jay Weatherill said in an emailed statement Friday. While no timeline was given for completion, the battery size would exceed Musk’s 100-megawatt unit in the same state’s outback, which holds the current record. Other rivals may also overtake Musk including a South Korean project.
GFG, which last year added steel operations to iron ore mines in Australia, said the battery will help power a 200 megawatt solar farm at its Whyalla steelworks. Simec Zen hopes its Big Battery Project will provide grid stability and act as a buffer to power outages, which have included a state-wide blackout in September 2016.
“As well as being the most powerful battery in the world, Simec Zen’s storage facility will help underpin the long-term viability of the Whyalla steelworks as well as provide additional benefits to the South Australian grid,” Weatherill said.
The battery-storage industry is becoming increasingly important in places like South Australia, which has less access to traditional fossil-fuel sources like coal and gas than the rest of the nation. Instead, the region gets 50% of its electricity from renewable energy, one of the highest penetrations of wind and solar in the world. Bloomberg
- Vitamin C, other drugs in short supply as China shutters plants
- Telecom companies may be fined for flouting portability rules
- Yes Bank to RBI: Let Rana Kapoor stay till September 2019
- Make it large—a significant trend in the Indian pharmaceutical industry
- Bad debt problem in control, curbs on anaemic banks may be eased: Jaitley
Editor's Picks »
- Why domestic cotton prices are likely to rule firm this season
- India’s dark corporate debt market now loses the flicker of liquidity too
- Jio’s market share zooms after it raises stakes with higher capex
- Tata Steel is not willing to give even an inch on the acquisitions front
- Rafale contract or not, HAL has its own issues