(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.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook