The Australian government has approved the construction of a $20 billion undersea cable project by Sun Cable, owned by tech billionaire Mike Cannon-Brookes. The Australia-Asia Power Link aims to deliver over 20 gigawatts of solar-generated electricity from a farm in northern Australia to customers in Darwin and Singapore, making it one of the largest solar precincts in the world. This project is seen as a significant advancement in green energy and Australia’s position as a global leader in renewable energy.
Before the project can move forward, Sun Cable still needs approvals from indigenous groups in Australia, as well as the governments of Singapore and Indonesia. The company is now focusing on the next stage of planning in order to reach a final investment decision by 2027. Cameron Garnsworthy, managing director of Sun Cable, expressed their commitment to advancing the project and bringing it to fruition in the near future.
Mike Cannon-Brookes, with a net worth of $10.7 billion, has been increasing his investments in renewable energy and funding philanthropic efforts to combat climate change. In addition to Sun Cable, he also has an interest in Australian utility company AGL Energy. Cannon-Brookes’ involvement in this project highlights the growing interest of tech billionaires in green energy initiatives and sustainable development, recognizing the importance of addressing climate change and reducing carbon emissions.
The approval of the Australia-Asia Power Link project has been met with enthusiasm by stakeholders and environmentalists, who see it as a milestone in the transition towards a more sustainable energy future. With the potential to deliver a significant amount of solar-generated electricity to customers in Australia and Singapore, this project is expected to have a positive impact on reducing greenhouse gas emissions and advancing the use of renewable energy sources on a global scale.
As the project moves forward, Sun Cable will continue to work with various stakeholders to ensure that all necessary approvals are obtained before proceeding with construction. The company’s dedication to developing this groundbreaking infrastructure project underscores the importance of collaboration between government, industry, and local communities in driving the transition towards a cleaner, more sustainable energy system.
With the Australia-Asia Power Link project set to become one of the largest solar precincts in the world, it represents a significant step towards achieving Australia’s renewable energy targets and reducing its reliance on fossil fuels. As governments and businesses increasingly prioritize sustainability and carbon neutrality, initiatives like this undersea cable project play a crucial role in accelerating the transition towards a low-carbon economy and combating the impacts of climate change on a global scale.
