Last year, Elon Musk surpassed all expectations when Tesla’s giant lithium-ion battery went live in South Australia, promising a clean, sustainable and effective energy solution. The 100-megawatt battery is said to have the capacity to power more than 30,000 homes.

Now, an Indian-born Metal tycoon Sanjeev Gupta is planning to build an even more powerful lithium battery to beat what’s being described as the world’s most powerful lithium battery

The British billionaire is planning to build a 120-megawatt lithium-ion battery at Port Augusta in South Australia.

South Australian Premier Jay Weatherill told reporters in Adelaide:

We know that more renewable energy means cheaper power, and that’s why we have increased our renewable energy target to 75 percent and also introduced a new renewable storage target of 25 percent.

Indian-born British businessman and the founder of Liberty House Group secured a loan of around $8 million from the South Australian government through its Renewable Technology Fund. The project is expected to create 100 construction jobs.