The Business Times
business-time-50
THINKING ALOUD
·
SUBSCRIBERS

Against the odds: Aussie billionaire Cannon-Brookes snags conditional green light to power Singapore

Sun Cable’s audacious plan to sell solar to Singapore via the world’s longest undersea cables is ‘back in business’ after overcoming commercial doubts and shareholder disputes

google-preferred-sourceAdd BT as a preferred source
Anita Gabriel

Anita Gabriel

Published Thu, Oct 31, 2024 · 05:00 AM
    • If successful, Sun Cable, owned by Australian billionaire Mike Cannon-Brookes, could redefine energy trading in Asia-Pacific, proving the viability of long-distance renewable power transmission.
    • Singapore’s conditional approval affirms Sun Cable’s technical and commercial viability —a major endorsement for this solar project of immense scale.
    • If successful, Sun Cable, owned by Australian billionaire Mike Cannon-Brookes, could redefine energy trading in Asia-Pacific, proving the viability of long-distance renewable power transmission. PHOTO: BLOOMBERG
    • Singapore’s conditional approval affirms Sun Cable’s technical and commercial viability —a major endorsement for this solar project of immense scale. PHOTO: PIXABAY

    AUSSIES love nothing more than proving doubters wrong, Australian tech billionaire Mike Cannon-Brookes told me in an interview just over a year ago.

    He was responding to scepticism about Sun Cable’s audacious A$30 billion (S$26.1 billion) plan to power Darwin – and Singapore – through giant solar farms and the world’s longest undersea cables.

    This mammoth undertaking was earlier derailed when Cannon-Brookes and fellow billionaire Andrew Forrest – both co-owners – clashed on the project’s Singapore cable component, leading Sun Cable into administration in January 2023. After nearly six months of negotiations, Cannon-Brookes secured control of the company.

    Solar energyEnergy Market AuthorityRenewable energyThinking Aloud

    TRENDING NOW

    The latest ruling comes after the claimant submitted an appeal against the South Jakarta District Court's Feb 9 decision that declared his lawsuit "inadmissible".

    Indonesian court upholds earlier dismissal of 2.28 trillion rupiah claim on Keppel unit’s land

    US President Donald Trump with President Xi Jinping after a visit to Zhongnanhai Garden in Beijing, on May 15.

    Xi Jinping has just rewritten the rules of US-China rivalry

    Indonesia's Finance Minister Purbaya Yudhi Sadewa says figures in the reported export data are roughly 50% lower than the actual numbers.

    Wilmar, Musim Mas among palm-oil firms in Indonesia under probe for suspected export under-invoicing

    Beijing has said that the measures are designed to clean up the capital market and steer investors towards regulated channels for overseas investment.

    China traders rush for exit after cross-border flow crackdown

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More