Billionaires invest $46m in Australian solar farm connecting to Singapore

The 4,500km transmission network is set to be the world’s longest high voltage cable.

Reuters reported that two Australian billionaires have invested $46.38m (A$50m) to jumpstart a megaproject to supply solar power from northern Australia to Singapore via the world’s longest subsea high voltage cable, the project’s boss said.

Sun Cable, which is leading the roughly $20.41b (A$22b) project, raised the money from the private family fund of Atlassian co-founder Mike Cannon-Brookes and mining magnate Andrew Forrest’s private company Squadron Energy.

Sun Cable plans to build a 10GW solar farm in Tennant Creek in the Northern Territory, a 22 GWh battery storage facility and a 4,500km transmission network to Singapore. All three elements would be the biggest of their kind in the world.

The Australia Singapore Power Link would supply a fifth of Singapore’s power needs, helping to ease the island nation’s dependence on imported liquefied natural gas (LNG), according to Sun Cable’s website.

Read more from Reuters.