World's 'largest solar precinct' approved by Australian government

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🗞️ Driving the news: The Australian government has granted environmental approvals for Sun Cable's $19 billion project to build the world's largest solar farm in northern Australia
•  This project will generate green electricity for Singapore via a 4,300-kilometer submarine cable

🔭 The context: Initially backed by prominent investors, including Andrew Forrest and Mike Cannon-Brookes, the project faced financial challenges in 2023
•  It was rescued by a consortium led by Cannon-Brookes' Grok Ventures, which now plans to finalize the investment by 2027

🌍 Why it matters for the planet: The project underscores Australia's shift from fossil fuels to renewables, aiming to reduce global greenhouse gas emissions and position the country as a leader in green energy

⏭️ What's next: With environmental approvals in hand, Sun Cable will proceed with detailed planning, targeting the project's completion and the start of electricity supply by the early 2030s

💬 One quote: "It will be the largest solar precinct in the world – and heralds Australia as the world leader in green energy," said Australian Environment Minister Tanya Plibersek

📈 One stat: The Australia-Asia PowerLink project aims to deliver up to six gigawatts of renewable energy annually

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