Tesla's Musk offers to fix South Australia's power crisis in 100 days

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Tesla Inc boss Elon Musk on Friday offered to save Australia's most renewable-energy dependent state from blackouts by installing 100 megawatt hours worth of battery storage within 100 days of signing a contract. The offer follows a string of power outages in the state of South Australia, including a blackout that left industry crippled for up to two weeks, and stoked fears of more outages across the national electricity market due to tight supplies. Musk made the ambitious offer on social media, and the government said it could consider backing such a battery roll out by Tesla. "The government stands ready through ARENA and the CEFC to work with companies with serious proposals to support the deployment of more storage," Environment and Energy Minister Josh Frydenberg said in an email to Reuters. ARENA is the Australian Renewable Energy Agency and the CEFC is the Clean Energy Finance Corp. Musk made the offer in response to a comment made on social media by Mike Cannon-Brookes, the co-founder of Australian software maker Atlassian Corp, who said he would be willing to line up funding and political support if Tesla could supply batteries that would solve South Australia's problems. Musk responded by tweeting: "Tesla will get the system installed and working 100 days from contract signature or it is free. That serious enough for you?" He quoted a price of $250 per kilowatt hour for 100 megawatt hour systems, which would imply a price of $25 million for the battery packs, when Cannon-Brookes asked for an estimate. "You're on mate. Give me 7 days to try sort out politics & funding," tweeted Cannon-Brookes.

Read More: Reuters

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