Close X
Friday, January 10, 2025
ADVT 
International

India-Born British Billionaire Sanjeev Gupta Launches Renewable Plan In Australia

IANS, 16 Aug, 2018 01:13 PM
    India-born British billionaire Sanjeev Gupta has launched a $1 billion, one-gigawatt renewable energy plan based in South Australia's mid-north that he says will lead the country's industry transition to more competitive power.
     
     
    In the first of a number of projects slated for the upper Spencer Gulf region, will include a 120MW lithium-ion battery bigger than the 100MW battery built by Elon Musk's Tesla in South Australia in 2017, according to details released by Gupta's energy company Simec Zen of its Cultana Solar Farm. 
     
     
    The project will produce 280 megawatts of power and feature 780,000 solar panels, generating enough electricity for 96,000 homes. The Cultana Solar Farm will begin construction in early 2019, employing 350 workers during construction, reported ABC News.
     
     
    "Today's event is symbolic of our desire to develop and invest in new-generation energy assets that will bring down Australia's electricity prices to competitive levels again," Gupta said on Wednesday.
     
     
     
     
    "Solar will be the main base of our ambitions in Australia but we will have some wind and we have lots of storage solutions."
     
     
    When completed, Gupta's battery will surpass the battery built by Tesla as the largest in the world, reports said.
     
     
    However, the Gupta Family Group (GFG) Alliance has no intention to stop there with plans for pumped hydro projects and expanded solar farms being developed for South Australia.
     
     
    "All of these projects will not only improve reliability and greatly reduce the cost of electricity in our 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," he said.
     
     
    "We have a strong conviction that traditional carbon-intensive generation sources do not have a long-term future as the predominant source of power in Australia and globally.
     
     
    "We believe the world is undergoing a momentous transition to renewable power as the cost of renewables drops dramatically and quickly," he added.

    MORE International ARTICLES

    Indian Woman Killed, Buried At UAE Home. Husband Puts Up 'For Rent' Sign, Leaves For Kerala

    Indian Woman Killed, Buried At UAE Home. Husband Puts Up 'For Rent' Sign, Leaves For Kerala
    Initial investigations by the police revealed that the accused husband, who also had another wife, had sent his other wife to India with his two children before committing the crime.

    Indian Woman Killed, Buried At UAE Home. Husband Puts Up 'For Rent' Sign, Leaves For Kerala

    Mother Strangles Two Children, Hangs Herself In Andhra Pradesh

    Mother Strangles Two Children, Hangs Herself In Andhra Pradesh
    The woman in Andhra Pradesh's Kakinada took the extreme step following domestic unrest, police said.

    Mother Strangles Two Children, Hangs Herself In Andhra Pradesh

    Man Finds Leopard In Room Where His Children Slept, Neighbours Kill It

    Man Finds Leopard In Room Where His Children Slept, Neighbours Kill It
    The leopard has been killed by the locals, a police official said.

    Man Finds Leopard In Room Where His Children Slept, Neighbours Kill It

    Indian-Origin Man Niket Shah In US Charged With Stealing $250,000 In Ponzi Scheme

    Indian-Origin Man Niket Shah In US Charged With Stealing $250,000 In Ponzi Scheme
    An Indian-origin man has been charged with stealing more than $250,000 in a Ponzi scheme in which his friends and coworkers invested.

    Indian-Origin Man Niket Shah In US Charged With Stealing $250,000 In Ponzi Scheme

    Indian-American Businessman Sent To Jail In $2.5 Million Fraud Case

    Indian-American Businessman Sent To Jail In $2.5 Million Fraud Case
    Debashis Ghosh, 54, of Chicago and Keith Eric Jergensen, 58, of Salt Lake City, Utah, were convicted in October 2017 of wire fraud conspiracy.

    Indian-American Businessman Sent To Jail In $2.5 Million Fraud Case

    Indian-American Publisher Acquires 24×7 TV Channel ITV In The US With Eye On Indian Market

    Indian-American Publisher Acquires 24×7 TV Channel ITV In The US With Eye On Indian Market
    Indian-American publishing group Parikh Worldwide Media (PWM) has acquired ITV Gold cable TV channel with plans to enter the Indian media market.

    Indian-American Publisher Acquires 24×7 TV Channel ITV In The US With Eye On Indian Market