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Australian billionaire wants submarine cable to export solar power to Singapore and beyond

By illuminem briefings 🌎

Sep 08 2023 · 1 min read

Illuminem Voices
Energy · Power & Utilities · Power Grid

illuminem summarizes for you the essential news of the day. Read the the full piece on TIME or enjoy below

🗞️ Driving the news: Mike Cannon-Brookes has acquired SunCable and is now in discussions with local authorities, aiming to export Australia's clean energy to Singapore through a 4,200-kilometer underwater cable
• The initial strategy involves a significant solar farm in Australia's Northern Territory, which Grok Ventures anticipates will be the world's largest, to serve both local needs and Singaporean demands

🔭 The context: SunCable's project was initially seen by developers as a potential part of a super-grid extending from Japan to India
• Forrest, a former investor, billionaire, and proponent of exporting energy through green hydrogen or ammonia, believed the undersea cable wasn't a commercially feasible idea

🌎 Why it matters for the planet: Amid Asia's largely fossil-fueled economies seeking cleaner energy solutions, especially those with limited space for renewables, SunCable presents a promising alternative

⏭️ What's next: Grok will now pursue an energy import license in Singapore and discuss cable routes with Indonesia; once finalized, the project will support regional shifts toward sustainable energy by exporting substantial power

💬 One quote: "It is by far, I think, the cheapest way to export energy from Australia in volume and at affordable prices" (Mike Cannon-Brookes, Grok Ventures & SunCable)

📈 One stat: The project's initial price tag was estimated at $19 billion, making it one of the most significant investments in renewable energy infrastructure in the region

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