(Yicai Global) June 3 -- Shanghai Electric Group and SIMEC Energy Australia said today that they will jointly build Australia's single largest photovoltaic power project, according to Xinmin Evening News.

The 280-megawatts solar farm, which will be built in Cultana in the state of South Australia, is scheduled for completion next year or in 2021, the report said. Shanghai Electric will be responsible for engineering, procurement and construction, according to the agreement.

SIMEC Energy Australia is one of the GFG Alliance group of companies owned by the UK's Gupta family. Billionaire Sanjeev Gupta said last August that he would invest USD1 billion to build a solar energy project in South Australia. The Cultana project is expected to produce 600 gigawatt hours of energy a year, providing power to the Whyalla Steelworks, which produces 10 million tons a year.

Gupta said at the signing ceremony today that he expects to build 10 gigawatts of solar energy and other renewable energy projects in Australia, with one of the goals being to slash local energy prices.