South Australia could be home to another giant battery if Labor is returned to government.
Premier Jay Weatherill says SIMEC ZEN, the company owned by British billionaire Sanjeev Gupta who recently bought the Whyalla steelworks, will receive a $10 million loan to build a 120-megawatt battery at Port Augusta.
The battery would eclipse the 100-megawatt lithium-ion battery recently built in SA's mid-north by tech billionaire Elon Musk, currently the world's largest.
"Today's announcement is another example of how South Australia, under Labor is leading the world in renewable energy," Mr Weatherill said.
The battery will support the 200-megawatt solar farm being built near the Whyalla steelworks.
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"Energy storage is the key to delivering cheaper power around-the-clock and we are now seeing a wave of private sector investment in energy storage flooding into South Australia," Energy Minister Tom Koutsantonis said.
Labor recently pledged to source 75 per cent of the state's power from renewables by 2025.
