Sun Cable power export project deemed investment ready

Infrastructure Australia has announced that Sun Cable’s Australia-Asia PowerLink (AAPowerLink) has met all requirements of the Infrastructure Priority List, advancing the project to Stage 3 ‘Investment-ready’ status.

The AAPowerLink is the world’s largest solar, storage and transmission system that will transmit renewable electricity from the Barkly Region of the Northern Territory to Darwin and Singapore.

Sun Cable Founder & CEO David Griffin said: “(The) announcement by Infrastructure Australia affirms that the AAPowerLink is economically viable and will deliver significant benefits for Australia and our region.

“The AAPowerLink will enable a stronger economy for the long term through contracts, wages and economic diversification.

“It will spur enhanced capacity and skills in the construction and technology sectors as a result of jobs and training over the lifetime of the project, and pave the way for new green industries to be established, and to thrive.”

The AAPowerLink will deliver significant benefits to Australia, including:

1. 800 MW of zero carbon electricity for Northern Australia, supporting prospective industrial loads
2. $8 billion in expected investment into Australia
3. $2 billion in expected annual export revenues to Australia from 2028, roughly the same as the dairy industry today
4. 1,750 direct jobs during construction, 350 jobs during operation, 12,000 indirect jobs
5. 2.6 million tonnes of estimated carbon emissions abatement

A PwC and Sun Cable assessment of the economic impact of the AAPowerLink to the NT and Australia concluded that there is a net positive impact on economic activity for both the NT and Australia, with significant opportunities for economic development.

PwC Australia CEO Tom Seymour said: “This $30+ billion project is forecast to deliver a $24 billion boost to GDP over its lifetime, generating 1,100 jobs on average each year, supercharging the economic development of regional and Northern Australia and communities, regional energy innovation and decarbonisation.”

The Infrastructure Priority List identifies nationally significant problems and opportunities, with strategic merit, value for taxpayers and deliverability.

Construction will commence in 2024, with electricity supplied to Darwin in 2027 and full operations by 2029.

Picture: Sun Cable

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