SunCable: Singapore has given conditional approval to the NT’s energy project
Northern Territory-based energy company SunCable has signed a non-binding agreement with Singapore’s Energy Market Authority to supply. LATEST.
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Northern Territory-based energy company SunCable has signed a non-binding agreement with Singapore’s Energy Market Authority to supply 1.75 gigawatts of low-carbon electricity from Australia.
If the company’s Australia-Asia Power Link project reaches final investment decision, SunCable wants to produce renewable power including the export of 1.75GW of green electricity to Singapore and 4GW for the Northern Territory.
SunCable said the approval followed “thorough assessment” by the EMA which “preliminarily deemed” AAPowerLink to be technically and commercially viable.
A statement released by EMA, which is a statutory board operating within the Singapore Trade and Industry Ministry, said the conditional approval was in line with Singapore’s “long term strategy to decarbonise its energy supply”.
“The imported electricity is expected to harness solar power from Australia’s Northern Territory and transmitted to Singapore via new subsea cables over a distance of approximately 4300km.
“The conditional approval awarded to SunCable recognises that the project can be technically and commercially viable based on the proposal and information submitted thus far.
“The conditional approval will provide SunCable with the support to continue to develop the project to meet its proposed commercial operation date, which is expected to be after 2035.”
SunCable’s next step, according to the EMA, is to meet EMA’s technical requirements, achieve “a commercially viable price acceptable to customers” and secure relevant approvals from Australia, Indonesia and Singapore.
EMA already has conditional license agreements in place with providers from Indonesia, Cambodia and Vietnam.
“To keep pace with our energy demand, EMA will continue to engage all companies with credible and commercially viable proposals that can contribute to Singapore’s 2050 net zero ambitions.
“To ensure adequate supply to meet our future energy needs given growing demand, EMA will continue to grant conditional approval to companies with credible and commercially viable proposals.”
A SunCable statement said electricity demand in the Asia-Pacific region is projected to increase by 70 per cent by 2040 and more than double by 2050.
“The project will create thousands of jobs and an estimated $20bn in economic value to the Northern Territory over its construction and operation phases,” a SunCable spokesman said.
“It will spend US$2.5bn directly in Indonesia over the project’s lifespan, creating an estimated 7500 jobs across sectors including manufacturing, construction, marine, maintenance, and energy.
“In Singapore, SunCable’s clean energy import will increase energy security and resilience, drive green industrial development, support net zero goals, create thousands of jobs, and directly abate six million tonnes of carbon each year.”
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Originally published as SunCable: Singapore has given conditional approval to the NT’s energy project
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