South Australia teams up with Tesla for world's largest lithium battery - storage battery
Billionaire entrepreneur Elon Musk will build the world's largest battery in South Australia and will comply with earlier commitments to complete or free supply within 100 days.
Musk's company, Tesla, will work with the French renewable energy group Neoen to build a 100 MW lithium-ion battery, which will be more than three times the existing power storage facility.
He said he was confident to deliver on his promise, but admitted that the project was not without risk as it tried to "go three times further than anyone else ".
"The technical challenge is the challenge of scale," he told reporters in Adelaide on Friday . ".
"Does it still work when you do something three times as big," We think it will work, but there is a certain risk.
"We are confident in the design of our technology and systems.
"But whenever you make something three times bigger than anything before, there's always some risk.
Musk said the failure to deliver the project on time would cost his team about $50 million, although the details of the contract have not yet been disclosed.
Battery is a key part of the state's $0. 55 billion energy plan after a state power outage last year.
This will help bring stability to the grid and should also put downward pressure on prices.
The battery will be built near Jamestown in Central SA
North, and will be paired with Sinn's existing Hornsdale wind farm.
Prime Minister Jay Weatherill says both Tesla and Neoen are world leaders in energy security and renewable energy.
"Battery storage is the future of our national energy market, and the eyes of the world will follow our leadership in this area," he said . ".
"This historic agreement will bring not only a sustainable energy giant to South Australia, but also some major economic developments --offs. "The 100-
Once the project is approved by the Australian Energy Market Operator, the battery completion period will begin.
But all parties hope to be put into use in time this summer. r.