Major Project Status has been granted by the federal government to Sun Cable’s proposed Australian-ASEAN Power Link (AAPL) linking the Northern Territory to Singapore.
The project would ultimately cost billions, and includes a 15,000 hectare, 10GW solar farm, 22 gigawatt-hours of battery storage and a 3,000 kilometre long underseas power cable to take electricity to Singapore.
Sun Cable CEO David Griffin said: “Sun Cable is delighted that the AAPL has been granted Major Project Status.
“It is a significant milestone for the AAPL, which will see Australia become a world leader in renewable electricity trade, generating approximately $2 billion worth of exports for Australia annually.”
In November a first capital raising of approximately $50 million closed oversubscribed for Sun Cable’s project.
Billionaires Twiggy Forrest and Mike Cannon-Brookes are among investors in on the ground floor of the Australia Singapore Power Link (ASPL) plan to supply the island state with a fifth of its power needs.
Major projects status provides companies with support from the Major Projects Facilitation Agency, including a single entry point for Commonwealth Government approvals, project support and coordination, and help with state and territory approvals.
Industry minister Karen Andrews said the project would create 1,500 jobs during construction, 350 ongoing jobs as well as indirectly supporting around 12,000 Australian jobs.
She said it will also see the production of a new solar farm manufacturing facility.
Andrews said: “This project draws on Australia’s world-class solar technology and our high-tech manufacturing capability to export renewable energy on an unprecedented scale.
“Not only will this power link make Australia a world-leader, it will also create significant economic and employment opportunities here at home with about $8 billion of the $22 billion investment to be injected directly into Australia.”