SYDNEY (BLOOMBERG) – Atlassian co-founder Mike Cannon-Brookes and iron ore magnate Andrew Forrest have committed more cash to a A$30 billion (S$30 billion) project to export solar power from Australia’s Northern Territory to Singapore via an undersea cable.
Australia’s Sun Cable has completed a A$210 million Series B funding round with existing shareholders to accelerate the progress of the Australia-Asia PowerLink, as well as other projects in its portfolio, the company said in a statement on Monday (March 14). The fund-raising was led by Mr Cannon-Brookes’ investment group Grok Ventures and Mr Forrest’s Squadron Energy.
Sun Cable plans to lay a 4,200km high-voltage cable to supply enough electricity to meet 15 per cent of Singapore’s demand from a giant solar and battery complex deep in the Outback. The project will also supply the northern Australian city of Darwin when it…
Billionaires tip more cash into project to export solar energy to Singapore
