Billionaires invest $46m in Australian solar farm connecting to Singapore
The 4,500km transmission network is set to be the world’s longest high voltage cable.
Reuters reported that two Australian billionaires have invested $46.38m (A$50m) to jumpstart a megaproject to supply solar power from northern Australia to Singapore via the world’s longest subsea high voltage cable, the project’s boss said.
Sun Cable, which is leading the roughly $20.41b (A$22b) project, raised the money from the private family fund of Atlassian co-founder Mike Cannon-Brookes and mining magnate Andrew Forrest’s private company Squadron Energy.
Sun Cable plans to build a 10GW solar farm in Tennant Creek in the Northern Territory, a 22 GWh battery storage facility and a 4,500km transmission network to Singapore. All three elements would be the biggest of their kind in the world.
The Australia Singapore Power Link would supply a fifth of Singapore’s power needs, helping to ease the island nation’s dependence on imported liquefied natural gas (LNG), according to Sun Cable’s website.
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