June 4 (Renewables Now) - SIMEC Energy Australia, part of a group owned by UK steel entrepreneur Sanjeev Gupta, has contracted Shanghai Electric (SHA:601727) for the construction of a 280-MW solar park in South Australia.
SIMEC Energy, a member of Gupta group’s commodity conglomerate GFG Alliance, on Monday announced it has signed an engineering, procurement and construction (EPC) with the Chinese company. The Cultana solar park will take between 12 and 15 months to build.
The project developer announced last month it expects to reach financial close on the project by the end of June and launch construction in the second half of this year. Once up and running, the solar farm will be able to generate around 600 GWh of electricity annually, which will be used to power GFG’s steel manufacturing business at Whyalla, as well as for “key government and commercial customers.”
The Cultana project is the first part of UK steel entrepreneur Sanjeev Gupta’s ambitious plan to add 1 GW of dispatchable renewables capacity in South Australia. It is being supported through Gupta’s USD-1-billion (EUR 888m) fund for renewable energy projects in the Aussie state. A development approval by the South Australian government was issued last month.
(USD 1.0 = EUR 0.888)