Business & Finance / 22 August 2024
A green light for sunlight
A plan to develop the world’s biggest renewable energy project – which would pump power to Singapore via undersea cables – is set to go ahead in the NT after federal Environment Minister Tanya Plibersek rubber-stamped it yesterday. If you’re thinking “what’s that about”, let us shed some light… The SunCable Australia-Asia Power Link is a $30 billion project backed by Australian tech billionaire Mike Cannon-Brookes (note: ex-investor Andrew ‘Twiggy’ Forrest pulled out last year…). It’ll see a pastoral station about 800km southeast of Darwin turned into a solar farm with a transmission line to Singers via 4,300km of underwater cables delivering 24/7 green power. It’s ambitious and has its doubters, but SunCable’s boss Cameron Garnsworthy says the approval is a “landmark moment”. The financial side won’t come together until 2027, so it’s not powering up just yet…
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