Sun Cable appoints trio to find investors for vast solar-storage interconnection project

Facebook
Twitter
LinkedIn
Reddit
Email
Construction of the project is set to begin in 2024, right after securing its financial close by the start of 2024. Image: Sun Cable.

Sun Cable has turned to a trio of financial advisors as it looks to advance its multi-gigawatt solar-storage project to financial close by 2024.

Sun Cable, the developer behind the vast, multi-billion-dollar Australia-Asia PowerLink project planned for Darwin, has appointed Macquarie Capital, Moelis & Company and MA Financial Group as joint financial advisors for the project as it looks to progress towards operation.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The advisors will be tasked with raising the more than AU$30 billion (US$20.4 billion) of capital required to fund the project which could combine as much as 20GWp of solar PV and 42GWh of energy storage.

Sun Cable hopes to reach financial close in 2024 and start construction shortly after, with a first phase currently slated for completion in 2027.

That first phase will supply electricity to Darwin first ahead of the facility becoming fully operational by 2029.

David Griffin, founder and CEO at Sun Cable, said the project has the “economies of scale needed to deliver zero emission dispatchable electricity” with reliability and price stability.

The appointment of financial advisors comes just weeks after the project was deemed investment ready by government agency Infrastructure Australia and months after the developer raised US$150 million in Series B funding to advance the project.

Read Next

June 10, 2025
Australia’s Queensland government has confirmed an AU$2.4 billion investment in the CopperString transmission project, aiming to extend the National Electricity Market (NEM) to the North West Minerals Province.
June 6, 2025
Australia’s Solar Energy Industries Association (SEIA) has called on Australia’s climate change and energy minister, Chris Bowen, to “urgently intervene” on a rule change that could threaten to derail the uptake of rooftop solar PV.
June 6, 2025
ElectraNet has revealed that renewables supplied 100% of South Australia's electricity demand for 27% of 2024, roughly 99 days.
Premium
June 3, 2025
In May 2025, utility-scale and rooftop solar PV dipped by 579GWh month-on-month in Australia’s National Electricity Market (NEM) to 2,861GWh.
June 2, 2025
Government-owned electricity retailer Jacana Energy has contracted 45MW of solar PV from utility-scale projects in the Northern Territory, Australia.
May 30, 2025
Tasmania’s George Town council approved plans for a 288MW solar PV power plant this week, which is being pursued in Australia by German renewable energy developer ib vogt.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece