Sun Cable’s Australian solar-storage project deemed investment ready

Facebook
Twitter
LinkedIn
Reddit
Email
Construction of the Australia-Asia PowerLink is due to begin in 2024. Image: Sun Cable.

A project in Australia that could feature up to 17–20GWp of solar and 36–42GWh of energy storage has been categorised as investment ready by a government agency.

Sun Cable, the company behind the Australia-Asia PowerLink (AAPowerLink), said Infrastructure Australia has affirmed the economic merit of the project, which will transmit renewable electricity from the Barkly Region of the Northern Territory to Darwin and Singapore.

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 announcement “affirms that the AAPowerLink is economically viable”, said David Griffin, Sun Cable CEO and founder.

Financial close for the project is set to be reached in 2024, when construction work will also begin, with full operations aimed for 2029, when around 2GW of electricity will be transmitted to Singapore through HVDC subsea cables.

Having received approval from Indonesian authorities last year for its proposed transmission cable route through the country’s waters, Sun Cable has since secured the backing of Australian billionaires Mike Cannon-Brookes and Andrew Forrest as part of a AU$210 million (US$152 million) Series B funding round.

The AAPowerLink will be capable of supplying up to 15% of Singapore’s total electricity needs, according to Sun Cable, which said advances in renewable energy generation, energy storage and HVDC cable transmission technologies have made it commercially and technically viable to transmit dispatchable, renewable electricity over long distances.

As well as exports to Singapore, the project will supply 800MW of renewable electricity capacity for consumption in Darwin.

The Northern Territory’s chief minister, Natasha Fyles, said the project “will position the territory as a renewable energy powerhouse”.

A consortium working to deliver the project includes engineering firm Bechtel, engineering and design consultancy SMEC, engineering and project management company Hatch, risk advisor Marsh and advisory firm PwC Australia.

Sun Cable said the AAPowerLink will deliver AU$8 billion (US$5.5 billion) of investment into Australia as well as AU$2 billion in annual export revenues to the country as of 2028.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events, Industry Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA