Australia Approves $19 Billion PowerLink Project

The Australia-Asia PowerLink project, spearheaded by Sun Cable, has received government approval to develop a 12,400-hectare solar farm in northern Australia, which will transmit energy to Singapore via an undersea cable. The project aims to produce six gigawatts of green electricity annually and is projected to create thousands of jobs while boosting Australia's economy. Environment Minister Tanya Plibersek hailed the initiative as pivotal for establishing Australia as a renewable energy superpower. After facing setbacks earlier this year with voluntary administration, the project was revitalized through acquisition by a consortium led by Mike Cannon-Brookes. SunCable is now focused on planning for a Final Investment Decision by 2027, which includes negotiating agreements with Indigenous landowners and regulatory bodies in Singapore and Indonesia. The project is expected to provide significant economic benefits, estimated at over AUS$20 billion during its first 35 years of operation.