An ambitious $30B project to produce up to 20GW of solar energy and export it to South East Asia gets $210M boost on way to reality.
The plan to build a giant solar farm in the Northern Territory is expected to cover 12,000 hectares capable of producing 17-20 GW of solar generation backed up with 36-42 GWh of energy storage to deliver limitless dispatchable electricity.
The new deal saw billionaires Mike Cannon-Brookes and Dr Andrew Forrest—founders of Atlassian and Fortescue Metals Group respectively—increase their contribution to the project.
The venture aims to start supplying clean power to Singapore in 2027 and has attracted worldwide attention.
The Sun Cable project—formally known as the Australia-Asia Power Link—will rely on an 800-kilometre cable to Darwin then a 4200km cable to transmit power through Indonesia to Singapore.
“We can power the world with clean energy and Sun Cable is harnessing that at scale”, Mike Cannon-Brookes said. “It’s a blueprint for how we export energy across the world.”
The new deal will not only boost development of the Australia-Singapore cable but other emerging projects, including some within Australia, other potential export projects and potential ventures in the region.
Detail: https://suncable.sg/sun-cable-announces-aud210-million-series-b-capital-raise/
