Sun Cable sale process commences for Australia-to-Asia power project
Apr 06,2024 | DAXTROMNSOLAR
The sale process for the Australia-to-Asia power project developer, Sun Cable, is set to begin in 2023. Sun Cable aims to construct the world's largest solar farm in Australia's Northern Territory, with plans to export electricity via an undersea cable to Singapore. The project, estimated to cost around $20 billion, will have a capacity of up to 14 gigawatts. The sale process will be managed by J.P. Morgan and comes after signing a deal with Singapore's power utility company, SP Group, to buy 100% of the energy produced for 15 years. This ambitious project has the potential to significantly impact the renewable energy market in the region.
[Comment:
The Sun Cable project represents a major step towards sustainable and renewable energy solutions. The construction of the largest solar farm shows the commitment towards reducing carbon emissions and addressing climate change. By exporting renewable energy to Singapore, this project not only supports Australia's clean energy goals but also strengthens international collaboration in achieving a greener future. The sale process will be a crucial milestone in realizing this groundbreaking project, and its success could inspire similar ventures in other parts of the world.]
