Monday, March 20 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Mar 20
Week of Mar 13
Week of Mar 06
Week of Feb 27
Week of Feb 20
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Sale launched for owner of USD-21.2bn Australia-Asia solar link project - report

    February 3, 2023 - SeeNews Renewables


      February 3 (Renewables Now) - The cash-strapped company behind the AUD-30-billion (USD 21.19bn/EUR 19.45bn) Australia-Asia PowerLink (AAPowerLink) project that is set to deliver power to Singapore from a huge solar farm in Australia is due to be sold by the end of May, Bloomberg reports.

      Sun Cable Pty Ltd, which in January entered into voluntary administration, has secured debt financing of AUD 65 million from billionaire Mike Cannon-Brookes, one of its major backers, to continue its projects during the sale process. Administrators from FTI Consulting have said that binding offers for the firm’s acquisition or recapitalisation will be sought by the end of April. The process is intended to be wrapped by the end of the following month.

      According to the report, iron ore magnate Andrew Forrest, another investor in the collapsed entity, is among the potential parties considering a bid for Sun Cable, which has supposedly accumulated debt of more than AUD 10 million.

      The AAPowerLink envisages the import of electricity into Singapore from a solar park of between 17 GWp and 20 GWp in Australia’s Northern Territory, to be coupled with 36 GWh to 42 GWh of batteries. Power exports are to be carried out via a 4,200-km (2,610-mile) undersea transmission cable.

      (AUD 1.0 = USD 0.707/EUR 0.648)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.