‘Too ambitious’: Controversial $30b project approved

The solar farm is expected to cost billions in taxpayer funds, however, most of the power won’t be going to Australian homes.

Australia’s biggest renewable energy project has officially been approved, but there are fears most of the $30 billion solar farm’s power will be exported out of the country.

Federal Environment Minister Tanya Plibersek announced the approval on Wednesday, calling the project a “generation-defining piece of infrastructure”.

The project is set to deliver almost six times more power than a 700-megawatt large nuclear reactor. Picture: Supplied

The 12,000-hectare project is backed by Atlassian billionaire Mike Cannon-Brookes and will be located between Elliot and Tennant Creek in the Northern Territory on a former pastoral station.

SunCable’s Australia-Asia Power Link will include an 800km transmission line to Darwin, but the power has also been flagged for “potential export to Singapore”.
The export will require a 4200km long undersea cable, which has been criticised for being unrealistic.

The current longest submarine link is just 767km between the UK and Denmark.

The supply of electricity will be begin in the early 2030s. Picture: Supplied

Ms Plibersek said the project would help turn Australia into a “renewable energy superpower” and help boost the NT economy.

“It will be the largest solar precinct in the world. It will mean more 14,300 new jobs in northern Australia, and it will turbocharge our research and manufacturing capacity in renewable technology,” she said.

“I’ve now ticked off over 55 renewable energy projects which is enough to power the equivalent of almost seven million homes.”

Aussie billionaires Mr Cannon-Brookes and Andrew Forrest fell out after being early investors in the project after a disagreement over funding and the viability of the 4,200-kilometre cable to Singapore.

Mike Cannon-Brookes is investing millions in the project. Picture: Supplied

Andrew Forrest was an early investor in the project, however, fell into disagreement with Mr Cannon-Brookes. Picture: News Corp Australia

The quarrel led SunCable into administration, however, Grok Ventures, Mr Cannon-Brookes’ private investment company, has since injected $65m into the company.

On Friday, administrators FTI Consulting announced that Mr Cannon-Brookes had successfully acquired the company’s assets.

Last year, Mr Cannon-Brookes fired back at those who said the Singapore cable was too far fetched.

The SunCable Australia-Asia Power Link is expected to generate 4GW of renewable energy. Picture: Supplied.

“While I acknowledge some people might think it’s too ambitious, we don’t believe it is,’ he said at the time.

“Frankly, the technology exists to make this happen. We’re extremely confident that modern cable technology can reliably carry more electricity over long distances and through deeper waters than was possible in the past.”

The federal government’s approval of the project includes strict conditions to ensure the safety of species in the area, such as the Greater Bilby.

The supply of electricity is expected to begin in the early 2030s.