German battery manufacturer Sonnen has announced it will build a battery production plant in Adelaide, creating up to 430 jobs.
The company said it aims to produce 50,000 energy storage systems in the next five years.
Sonnen Australia managing director Chris Parratt said a site has not been selected for the plant, but he expects the plant will only take about nine months to be operational.
“What we’re doing is bringing cheap, affordable, clean energy to South Australia,” Mr Parratt said, according to SBS.
“Here in South Australia, we’re at the forefront of energy policy and renewable energy. Sonnen is a company that is also in this space.”
The company also announced it would relocate its headquarters from Sydney to Adelaide.
The SA government has set up a $100 million fund offering no-interest loans to households of up to $10,000 each for those wanting to install solar panels or home storage batteries.
The interest-free period covers the first seven years.
South Australian Premier Jay Weatherill said the batteries would be attractive to households that accessed the loans.
“Jobs are our number one priority and it is Labor’s leadership in renewable energy that is capturing the attention of companies like Sonnen, encouraging them to invest, grow and create jobs,” Mr Weatherill said.