August 12, 2020 Read More →

U.K. industrial magnate pursues ‘green steel’ transition at South Australia’s Whyalla facility

Renew Economy:

The UK steel billionaire [Sanjeev Gupta] has flagged the potential investment of another 3,000MW of renewable energy projects in South Australia to support his plans to turn his Whyalla Steelworks into an internationally competitive “green steel” hub.

Gupta’s comments come after the announcement that he and Professor Ross Garnaut had chosen to part ways, with Gupta’s Simec Energy focusing on his own company’s needs, and Garnaut’s Sunshot Energy and its retail offshoot Zen Energy focusing on the broader market for renewable development and contracts. The split is said by both parties to be amicable, and simply reflecting their different business focus.

Simec and its parent company GFG Alliance will retain ownership of the 280MW Cultana solar plant near Whyalla, the planned Playford big battery at Port Augusta, and the Middleback Ranges pumped hydro project that is awaiting word – nearly two years after its application – on whether it will get funding from the federal government’s stalled Underwriting New Generation Investment scheme.

Gupta says remains focused on his previously announced plans to turn the Whyalla steelworks, the ageing facility he bought out of bankruptcy several years ago, into a new source of “green steel.”

Gupta told The Australian newspaper in the interview that he will now target developing up to 3000 megawatts of renewables in addition to the Cultana solar farm in South Australia, with the entire capacity to be used for a new green hydrogen steel plant at Whyalla.

“I really want to focus on doing a much bigger 2000-3000MW plant after Cultana to feed hydrogen. All of our energy projects will be part of an industrial transformation to carbon neutrality. We will finish Cultana first and then step on the gas to do the expansion.”

[Giles Parkinson]

More: Gupta flags 3,000MW new renewables for Whyalla “green steel” plans

Comments are closed.