MELBOURNE – Two Australian billionaires have invested tens of millions of dollars to jump-start 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 on Wednesday (Nov 20).
Singapore’s Sun Cable, which is leading the roughly US$$15 billion (S$20.4 billion) 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 10 gigawatt solar farm in Tennant Creek in the Northern Territory, a 22 gigawatt hour battery storage facility and a 4,500 km 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 web site.