Australia fast-tracks ambitious $16 billion solar power export project

MELBOURNE (Reuters) – Australia decided this week to fast track approvals for a A$22 billion ($16 billion) project to supply solar power to Singapore via the world’s longest subsea high voltage cable, a move to boost recovery from the coronavirus crisis. The Australia-ASEAN Power Link project, run by Singapore-based Sun Cable, envisions a 10 gigawatt solar farm and energy storage facility of up to 30 GWh in the Northern Territory, with a 4,500-km (2,800-mile) link to Singapore and eventually Indonesia. Sun Cable Chief Executive David Griffin said on Thursday the government’s granting of major project status for AAPL would make the approvals process for the project "much easier" and could help it beat its late-2023 target for securing financing. "We’re trying very hard to bring forward at least elements of the project," Griffin told Reuters. The company wants to build an early phase of the big battery it plans in Darwin and aims to build a factory in Darwin next year to manufacture Maverick solar modules, which it will eventually use at the giant proposed solar farm, he said. Maverick is a product made by private Australian firm 5B, which on Thursday completed a A$12 million capital raising, backed […]

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