GFG Alliance ties with Shanghai Electric for Australian solar farm
03/06/2019 06:01
MELBOURNE, June 3 (Reuters) - GFG Alliance, a privately held
conglomerate run by the UK's Gupta family, said on Monday it has
linked up with Chinese energy company Shanghai Electric
601727.SS to build a solar farm in South Australia state.
The 280 megawatt (MW) Cultana Solar Farm project would power
GFG's Whyalla steelworks, which plans to expand to 10 million
tonnes of steel output a year from 1.2 million tonnes at
present, it said.
GFG did not put a price tag on the solar plant, but said it
was part of a promise made by GFG Chairman Sanjeev Gupta to
spend $1 billion in renewables in Australia.
GFG is regenerating the aged steelworks, which it bought
from administrators in 2017. Gupta has said he would consider a
partial listing of the company's steel assets across the UK,
Europe and Australia in the second half of 2019. urn:newsml:reuters.com:*:nL3N220006
"Cultana Solar Farm ... will deliver globally competitive
renewable energy on a large scale to power heavy industry,"
Gupta said in a statement.
GFG said it plans to invest in up to 10GW of large-scale
solar and other renewables projects across Australia.
($1 = 1.4384 Australian dollars)
(Reporting by Melanie Burton; editing by Richard Pullin)
((melanie.burton@thomsonreuters.com Twitter: @MelanieMetals;
+613 9286 1421; Reuters Messaging:
melanie.burton.thomsonreuters.com@reuters.net))