Jakarta –
Billionaire Mike Cannon-Brookes wants to revive a plan that had stalled, namely the export of solar electricity from Australia to Singapore via a 4,200 kilometer (km) underwater cable. This was done after acquiring the failed Sun Cable project assets.
The transaction is expected to close in late July 2023. The deal gives Cannon-Brookes and Queinbrook Infrastructure Partners control of a wide-ranging renewable energy development in Northern Australia, after months of disagreements between co-founder Atlassian Corp and fellow billionaire Andrew Forrest as an investor. main.
Once the agreement is finalized, Cannon-Brookes intends to continue with plans for the US$20 billion project to deliver 900 megawatts of electricity to Darwin and export 1.8 gigawatts to Singapore. Sun Cable said it had received commitments from potential customers in Singapore.
“The time has come to expand our country’s ambitions. We need to make major changes if we are to become a renewable energy superpower, so we will,” Cannon-Brookes said.
The project is being touted as one such initiative that could help Asian economies, which heavily use fossil fuels, switch to low-emission power sources. Especially countries with limited space such as Singapore in building solar power plants.
Cannon-Brookes has been increasing investment in renewable energy as well as funding philanthropy to fight climate change. In May 2022, his Grok Ventures invested more than A$500 million in AGL Energy, becoming the largest shareholder in one of Australia’s largest electricity producers and distributors.
The crazy rich, with a net worth of around US$10.9 billion, plans to accelerate AGL’s transition from fossil fuels to clean energy sources.
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(aid/zlf)
2023-05-31 02:05:02
#rich #man #exports #electricity #Singapore #sea
