Billionaire Says Australia-to-Singapore Solar Plan Sun Cable Now Unviable, hydrogen production.
Plans to use a 4,200-kilometer (2,600-mile) power cable to send clean energy from Australia to Singapore are no longer commercially viable, according to one of the project’s billionaire investors.
A review of Sun Cable’s A$30 billion ($21 billion) proposals concluded the project should ditch an ambition to export electricity and focus instead on using a huge planned solar and battery facility to feed green industries at home, according to Andrew Forrest’s Squadron Energy unit — which holds a 25% stake in the developer.
Sun Cable entered into voluntary administration last week after a disagreement between Forrest and tech tycoon Mike Cannon-Brookes over funding and the plans to send clean power overseas. Forrest is considering a potential offer for the company, a person familiar with the details said last week.
John Hartman, Squadron Chairman said.
Squadron Energy continues to believe in the vision for a game changing solar and battery project in the Northern Territory’s Barkly region.
The unit — Australia’s biggest renewables developer — is focused on helping the country “become a green energy exporting superpower by generating renewable energy to produce green hydrogen and green ammonia.”
Highlights:
- Squadron Energy says power Cable to Singapore not viable
- Sees future for renewable assets in Northern Territory
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Billionaire Says Australia-to-Singapore Solar Plan Now Unviable, January 15, 2022
