Some major South Australian energy projects could soon go up for sale. 

GFG Alliance has appointed experts from Ernst & Young (EY) to explore potential sale or partnership options for the Cultana Solar Farm and the Playford Battery project in SA. 

The Cultana Solar Farm plan includes 780,000 solar panels, and is at “shovel-ready status with relevant approvals and licenses in place”, according to the company. 

The Playford Battery project is in much earlier stages, but a site near Port Augusta has been secured.

Reports say GFG is looking to pay off debts owed to Greensill Capital and Credit Suisse. 

GFG Alliance owner Sanjeev Gupta says his company has been too dependent on Greensill Capital for funding, with a reported exposure of over $400 million.

Credit Suisse has taken court action to wind up the operations of the Whyalla Steelworks and the Tahmoor coal mine, but these efforts have been delayed in a New South Wales Court.

Citibank is running the legal action on behalf of Credit Suisse. Court documents show Citibank is looking to wind up the businesses in insolvency “on the basis that the companies are not able to pay all of their debts, as and when they become due and payable”.

But the companies claim they are solvent entities.

A hearing date is expected to be scheduled in July. 

GFG Alliance says it is still planning a deal to supply renewable energy to the Whyalla Steelworks, whose owner Sanjeev Gupta says will allow the facility to create “green steel”.

“The projects have been designed to supply and store renewable energy to power GFG's Whyalla Steelworks, as well as supply renewable energy to the national energy grid,” GFG said in a statement.

“The partnership and sale options under consideration will include SIMEC retaining an interest and with GFG retaining priority access to this energy for its Whyalla development plans.

“This is a practical step to explore ways to power our Whyalla operations with low cost renewable energy sooner, which is key to our future ambitions.”