‘Investment ready’: Billionaire-backed Sun Cable’s clean energy project gets another tick
Clean energy company Sun Cable’s project aiming to send solar-powered renewable energy via an undersea cable from the Northern Territory to Singapore has been declared “investment ready” by Infrastructure Australia.
Backed by Atlassian founder Mike Cannon-Brookes and Fortescue’s Andrew Forrest, Sun Cable is vying to build the world’s first intercontinental power grid supplying renewable power. The company forecasts the project to deliver around $8 billion worth of investment into Australia and generate $2 billion in export revenues within six years.
Sun Cable wants to begin construction on the Australia-Asia Powerlink, which will run mostly through Indonesian waters, in 2024 and begin supplying electricity from the Northern Territory’s Barkly region to Darwin in 2027, with full operations to Asia by 2029. The 4200-kilometre-long cable would run underwater.
Sun Cable wants to …
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