There will be surplus power, but that's not a bad thing - make bricks for housing with it; breakage (power not yet strictly needed) can go to indoor greenhouses, etc.
Honestly, I've been looking at just that in combination with agricultural/reforestation techs for a couple years now. Australia is way bigger than the maps make it look, Africa too. Find an area near a volcano you can rob and grind for soil and you'll do very well once energy is cheap enough. Due to climate change - esp in future - many locations will require heat control via shade (not too dense solar farms) and evaporation (of sea water on cardboard in one trial.)
No doubt the current food shortage is temporary, the solutions emerge inevitably from cheaper energy (and AI farm equipment.)