Singapore is a small island nation that lacks natural resources and relies on imports for almost everything, including water and energy. About 2,600 miles away is Australia, rich in natural resources and open spaces. Now, a billionaire tech founder wants to use some of Australia’s unused land to give Singapore access to a massive solar farm.
On Wednesday, the Australian government announced The first stage has been passed. From SunCable’s AAPowerlink project, which hopes to Ship power From a giant solar farm in northern Australia to Singapore, via a 2,600-mile underwater cable. To put that length into context, the $13.5 billion project would require a cable that spans nearly the entire length of the continental United States from east to west.
Tanya Plibersek, Australia’s Environment Minister, said the Sun Cable project would meet growing demand for renewable energy, both domestically and internationally. “This project will be the largest solar park in the world and will establish Australia as a global leader in green energy,” she added. He said.
SunCable hopes the 12,000-hectare solar farm and battery storage facility will deliver up to 6 gigawatts of power 24/7 to Singapore and the Australian city of Darwin.
The company He says A final investment decision is expected in 2027, and electricity supply will begin in the early 2030s.
SunCable still needs approval from Singapore and Indonesia to implement the project.
A major shift at SunCable
Australia’s approval, which Sun Cable has described as a “vote of confidence,” is a major shift for the company.
The project was initially backed by two billionaires, iron ore tycoon Andrew Forrest and Atlassian co-founder Mike Cannon-Brookes. But the two He did not agree. On the project’s feasibility and future direction, SunCable entered into voluntary administration in January 2023.
Cannon Brooks beat Forrest to take control of the company; Grok Ventures, a private equity firm of Cannon Brooks, acquired SunCable in September 2023.
At that time, Canon Brooks Named SunCable “A Project That Changes the World” He argued that resource-rich Australia needed to end its reliance on coal. The tech billionaire is a climate change activist, investor in renewable energy projects, and owner of a green charitable fund.
Canon Brooks, through Grok Ventures, owns an 11.3% stake in AGL Energy, making him the largest shareholder in Australia’s largest energy company. He has successfully Apply pressure Against AGL’s plans to split into separate retail and power generation companies, which would have allowed the company’s coal-fired power stations to continue operating into the 2040s.