Black Friday Sale! Save huge on InvestingProGet up to 60% off

South Australia state govt says to build new gas power plant

Published 14/03/2017, 11:51 am
© Reuters.  South Australia state govt says to build new gas power plant

SYDNEY, March 14 (Reuters) - The state of South Australia is to build a new gas power plant as part of a A$500 million ($377.65 million) plan to provide energy security and avoid a repeat of damaging blackouts that struck last year.

State Premier Jay Weatherill told a news conference the private sector would also build Australia's largest battery storage plant, with a 100MW output.

The announcement comes just four days after Tesla Inc boss Elon Musk offered to save the state from blackouts by installing $25 million worth of battery storage.

($1 = 1.3240 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.