Home News Sustainability

Australia billionaires plan to export solar power to Singapore

Bloomberg
Bloomberg11/20/2019 04:32 PM GMT+08  • 2 min read
Australia billionaires plan to export solar power to Singapore
(Nov 20): Two of Australia’s richest people, Atlassian Corp co-founder Mike Cannon-Brookes (image) and Fortescue Metals Group Chairman Andrew Forrest, are investing in an ambitious project to export solar power from a giant plant in Australia to Singapo
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

(Nov 20): Two of Australia’s richest people, Atlassian Corp co-founder Mike Cannon-Brookes (image) and Fortescue Metals Group Chairman Andrew Forrest, are investing in an ambitious project to export solar power from a giant plant in Australia to Singapore via a 4,500 kilometer (2,800 miles) transmission cable.

The project raised tens of millions of Australian dollars that will allow it to undertake development work ahead of an expected financial close in late 2023, according to developer Sun Cable’s Chief Executive Officer David Griffin and a company statement. The plan incorporates a 10 gigawatt solar facility, which the company says will be the world’s biggest, as well as battery storage.

“This is a massively exciting project with world-changing potential,” Cannon-Brookes, a campaigner for clean energy, said in the statement. “If we nail this, we can build a new export industry for Australia, create jobs and set our economy up for the future.”

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now