Sun Cable30 Jul 2020 11:58
https://www.pv-magazine-australia.com/2020/07/29/federal-government-awards-major-project-status-to-sun-cables-10-gw-solar-plan/
An ambitious plan to develop a 10 GW solar farm along with between 22-30 GWh of battery storage near Tennant Creek and export solar power harvested in the Australian desert to Singapore via a subsea cable has taken a big step forward. The Australian federal government has awarded Major Project Status to Sun Cable’s proposed Australian-ASEAN Power Link (AAPL) recognizing the project’s potential to inject billions into the economy and create thousands of Australian jobs.
Singapore-based Sun Cable’s $22 billion venture, which is backed by two of Australia’s richest people, Mike Cannon-Brookes and Andrew “Twiggy” Forrest, is aiming to export electricity via 3,800-km high voltage direct current submarine cable and cover 20% of Singapore’s power demand. Since announced, Australia’s largest renewable energy infrastructure project has progressed by leaps and bounds.
Sun Cable’s AAPL plan was unveiled in June last year and was soon awarded Major Project Status by the Northern Territory government. The developer confirmed its solar partner would be Sydney-based 5B, which plans to manufacture its pre-fabricated, re-deployable solar arrays in Darwin and Adelaide. The project quickly found definite interest with iSwitch, Singapore’s largest green energy retailer, which pledged its support as a foundation off-taker for the solar energy produced by the project.
Soon after, in an oversubscribed capital raising, a group of individual investors jointly pumped in less than $50 million allowing for development work on the undersea power link to start before an expected financial close in 2023. In May this year, Sun Cable awarded its cable route survey contract to Perth-based Guardian Geomatics and secured development approval for a 100 MW/200 MWh battery in Darwin as part of its broader plans to build the world’s largest solar and storage project. On top of that, the developer revealed that the project had been expanded to take in a link to Indonesia.
On Wednesday, the project has reached another milestone as it was officially recognized by the Commonwealth Government as strategically important for Australia. Major Project Status will put Sun Cable’s plans on the fast-track providing the developer with extra support from the Major Projects Facilitation Agency, including a single entry point for Commonwealth Government approvals, project support and coordination, and help with state and territory approvals.
“It is a significant milestone for the AAPL, which will see Australia become a world leader in renewable electricity trade, generating approximately $2 billion worth of exports for Australia annually,” Sun Cable CEO Davod Griffin said.