Tesla, the company owned by billionaire entrepreneur Elon Musk and best known for its electric cars, will build the world’s largest lithium-ion battery storage facility in South Australia.

Musk has promised to build the facility in 100 days or less. Tesla will team up with a French renewable energy firm and an Australian state government for the project that will be three-times more powerful than any other such facility. It will be paired with a wind farm in South Australia.
"If South Australia's willing to take a big risk, then so are we," Musk said.

The announcement comes after billionaire entrepreneur Mike Cannon-Brookes threw down the gauntlet to Musk in March, asking if Tesla was serious when it claimed it could quickly end blackouts in South Australia, CNN Money reported.

“Tesla will get the system installed and working 100 days from contract signature or it is free. That serious enough for you?" Musk wrote on Twitter at the time.

Funding for the project will come the government of South Australia and it’s $A550 million plan to deliver clean power.

South Australia's population of 1.7 million people suffer regular power cuts and energy shortages. In September, much of the state was left without power after a storm damaged crucial transmission lines. Another major blackout happened in February after an unexpected spike in demand due to a heat wave.

Jay Weatherill, the premier of South Australia, said the large-scale battery system Musk is promising will "provide stabilization services to the grid."

The battery facility will be linked up to French renewable energy company Neoen's Hornsdale Wind Farm near Jamestown, South Australia.

But if Musk and Tesla run into delays, it won't cost the state's taxpayers anything.

"We need to get it done, we need to make sure it's working properly, and we want to do it well under 100 days," Musk said.