Sun Cable sale confirmed, aim is to proceed with Australia-S’pore power link

tripleme

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The collapsed US$20 billion (S$27 billion) Sun Cable renewable energy project has been rescued by part owner and Australian technology entrepreneur Mike Cannon-Brookes, the company said on Friday.

Voluntary administrators of Sun Cable will now work with Helietta Holdings 1 Pty Ltd, an entity affiliated with Cannon-Brookes’ Grok Ventures to complete the transaction, Sun Cable said in a statement.

Completion of the deal is expected to occur on or before the end of July.

Sun Cable’s mega project includes the proposed Australia-Asia PowerLink, which would have sent power from a 20-gigawatt (GW) solar farm with the world’s biggest battery in northern Australia across a 4,200-kilometre undersea cable to Singapore.

In the statement, it said the buyer’s intention was to continue to progress the Australia-Asia Power Link project to a final investment decision with stage 1 to deliver 0.9 gigawatts (GW) of generation into Darwin and 1.8 GW into Singapore.

The administrators would work with the buyer to facilitate ongoing development of power link in the period up to completion.



The value of the sale was not disclosed, but the transaction is expected to allow the unsecured creditors of Sun Cable to be paid in full.

https://www.straitstimes.com/asia/s...with-australia-singapore-power-link-statement
 

mechagnome

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Chalkycliffs

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https://www.smh.com.au/business/com...ga-project-from-collapse-20230526-p5dbl2.html

707951121a84295e7f2861b7582962e17136207b
 

Krabs.

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too vulnerable ..... 4000 km how to defend ? u see nord stream pipeline so shallow until scuba diver can reach also cannot find the culprit .... if use professional submarine or rover then well within capability

imagine the economic losses for every day the system is down

note the indonesia submarine sinking incident recently .... how many days it took for the rescue vessel to reach .... imagine the same with the undersea cable repair vessel ... how many days ? total economic loss is billions
 

neutralph

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Should have spent those moolah on fusion energy research instead. Not like we need those exxtra juice urgently... right?
 

Mechafanboy

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Any scholars who dare to propose tis stewpig idea, need to have their KKJ examined real hard, they are putting our energy security at severe risk...
 

mechagnome

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Oh **** it’s going to go through high earth quake zones?
last time earthquake SG no feeling
after this not only is power will affected
+ repair bill $20billion each quake?

just like that time EMA buy power from malaysia
ppl 1 year blackout min 7 times
how do they make such kok decisions?

government is NOT using money to buy electricity
this is buy what thing? wad magic stone?
 

Charmeleon

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This cable is not to get the sun energy, but it is a first step to create an electricity market in asean
 

batuchka

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In the statement, it said the buyer’s intention was to continue to progress the Australia-Asia Power Link project to a final investment decision with stage 1 to deliver 0.9 gigawatts (GW) of generation into Darwin and 1.8 GW into Singapore.
just how much is SG paying for the 1.8 GW from Oz? could be a series of SMRs would be a better/wiser long term investment me thinks...
 
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