In September 2018, the ABC’s hit documentary series Australian Story tracked ...
Building and investing in green energy around the world.
Securing low-cost, clean and reliable power is essential to our GREENSTEEL and GREENALUMINIUM model for low-carbon industrial production that is both economically and environmentally sustainable.
Through acquisition and new development, SIMEC, our international energy, infrastructure and natural resources group, has steadily been building its capacity to generate green energy for GFG Alliance businesses and the broader industry.
In the UK, SIMEC already delivers low-carbon energy from hydro and biofuel sources and has set a target to become the country’s largest green power generator by 2021. Some of the ways the group is planning to meet this target are through the following projects:
- A programme to build or upgrade 12 hydro schemes in the Scottish Highlands
- Investment in tidal power which could potentially deliver 8% of the UK’s electricity needs
- Plans to develop a 168MW wind farm in the Scottish Highlands
SIMEC also has an extensive programme of renewable energy capacity investment in Australia where it has created a new enterprise, along with market-leader, ZEN Energy, to develop extensive solar and pumped storage hydro power, particularly in South Australia, where power is at a premium.
The first of these projects is the Cultana Solar Farm which is expected to generate an impressive 600GWh of energy per year – enough to power almost 100,000 average homes – drawn from 780,000 solar panels making it one of Australia’s largest solar farms.
Speaking at the launch event for the solar farm, our Executive Chairman Sanjeev Gupta outlined his thoughts on the global transition to renewable energy:
We have a strong conviction that traditional carbon‐intensive generation sources do not have a long‐term future as the predominant source of power in Australia and globally. We believe the world is undergoing a momentous transition to renewable power as the cost of renewables drops dramatically and quickly.
It is, however, important that we acknowledge and support the critical role that coal and other traditional fossil‐fuel‐based power must play in this transition.
GFG Alliance’s investment in renewable power is a strong example of our commitment to our vision of building a sustainable future for industry and society.