Sun Cable, a renewable energy company owned by tech billionaire Mike Cannon-Brookes, has been given the green light by the Australian government to begin building a massive undersea cable that will deliver solar-generated electricity from Darwin to Singapore. The $20 billion project, known as the Australia-Asia Power Link, will deliver over 20 gigawatts of electricity by 2030 from a solar farm in northern Australia, making it one of the largest solar projects in the world.
Australian Minister for the Environment and Water, Tanya Plibersek, described the project as a “generation-defining piece of infrastructure” and praised Australia as a world leader in green energy. The approval from the Australian government is a significant milestone for Sun Cable, but the company still needs approval from indigenous groups in Australia and the governments of Singapore and Indonesia before moving forward with the project.
Sun Cable’s managing director, Cameron Garnsworthy, stated that the company will now focus on the next stage of planning and hopes to make a final investment decision by 2027. Cannon-Brookes, who has a net worth of $10.7 billion according to Forbes, has been increasing his investments in renewable energy and funding philanthropic efforts to combat climate change. In addition to his stake in Sun Cable, Cannon-Brookes also holds interest in Australian utility company AGL Energy.
The Australia-Asia Power Link is set to be the largest solar precinct in the world and will play a key role in Australia’s transition to renewable energy. The project has the potential to significantly reduce greenhouse gas emissions and create thousands of jobs in the renewable energy sector. It is also expected to strengthen Australia’s position as a global leader in green energy innovation.
The approval of the Australia-Asia Power Link project comes at a crucial time as countries around the world are ramping up efforts to reduce their carbon emissions and transition to a more sustainable energy future. The project will not only help Australia meet its climate targets but also provide a blueprint for other countries looking to harness the power of renewable energy to combat climate change.
With the go-ahead from the Australian government, Sun Cable is now one step closer to realizing its vision of delivering clean and sustainable energy to customers in Darwin and Singapore. The company’s commitment to renewable energy and its ambitious goals for the Australia-Asia Power Link project have garnered support from government officials, environmentalists, and investors alike, signaling a bright future for the renewable energy industry in Australia and beyond.
