The_King Posted November 21, 2019 Share Posted November 21, 2019 Australian billionaires Mike Cannon-Brookes and Andrew "Twiggy" Forrest have joined a capital raising of "tens of millions of dollars" to build a huge solar farm in Australia to supply electricity to Singapore. David Griffin, chief executive of Sun Cable, did not disclose the total investment other than to say it was less than $50 million. Mr Cannon-Brookes and his wife, Annie, were "lead investors" with their family firm Grok Ventures, while Mr Forrest tipped in funds from his Squadron Energy company. Atlassian co-founder Mike Cannon-Brookes' family investment firm, Grok Ventures, will help fund development of a solar-power link between the Northern Territory and Singapore.CREDIT:LOUIE DOUVIS The over-subscribed raising marks the start of what could become a $22 billion plan to build the world's largest solar farm with a 10-gigawatt capacity covering 15,000 hectares near Tennant Creek in the NT, and a 22GW-hour storage plant. The project would aim to supply competitively priced electricity to the Darwin region and to Singapore via a 4500-kilometre high-voltage cable. The raising will enable Sun Cable to pay for development work for the power link, with the ambition of securing financial close on the link by late 2023, Sun Cable said. "This is a massive project," Mr Griffin told The Sydney Morning Herald and The Age. "If we're going to undertake the energy transition [from fossil fuels] ... we're going to need a large number of extraordinary large projects." Andrew "Twiggy" Forrest sees potential for Australia to be a major clean energy supply to Asia.CREDIT:PETER BRAIG "It's actually a bigger task than most people appreciate," he said. "In a carbon-constrained world, Australia should be a winner," Mr Cannon-Brookes, the co-founder of software firm Atlassian, said in a statement. "This is a massively exciting project with world-changing potential. "If we nail this, we can build a new export industry for Australia, create jobs and set our economy up for the future." Mr Forrest, whose investments include a major share of Fortescue Metals, said making Australia a centre for the region's transition to renewable energy should be "a serious priority for our country". "This presents the Australian economy with enormous opportunities not just for reducing emissions but also for the economic march of our nation and global competitiveness," he said. Mr Griffin said the funds would assist the company to work through regulatory and environmental approvals. "It's quite a complex problem to resolve," he said. When work begins, the project could take four years to complete, Mr Griffin said. https://www.smh.com.au/business/markets/billionaires-invest-in-massive-solar-farm-to-supply-power-to-singapore-20191120-p53cf7.html 1 Link to comment Share on other sites More sharing options...
The_King Posted November 21, 2019 Author Share Posted November 21, 2019 @socrates469bc just few day ago, i posted that the supply is much much more then the demand, and now got solar power, the demand not there, build so much for what 1 Link to comment Share on other sites More sharing options...
Homelander Posted November 21, 2019 Share Posted November 21, 2019 Yeah i thot we have power glut? Senoko needed help Link to comment Share on other sites More sharing options...
meng.huat Posted November 21, 2019 Share Posted November 21, 2019 49 minutes ago, The_King said: The project would aim to supply competitively priced electricity to the Darwin region and to Singapore via a 4500-kilometre high-voltage cable. sounds like CSB... why dont they supply their own cities? shorter cables over land. 1 1 Link to comment Share on other sites More sharing options...
The_King Posted November 21, 2019 Author Share Posted November 21, 2019 cable too cheap thay why need 4500-kilometre Link to comment Share on other sites More sharing options...
meng.huat Posted November 21, 2019 Share Posted November 21, 2019 (edited) more like a scam. a few millionaires put in some seed money, sprinkle some high tech words... lure in the billions... burn away the investment project failed the few millionaires walk away rich with their fat "consultant fees" Edited November 21, 2019 by meng.huat 2 Link to comment Share on other sites More sharing options...
aaur4man Posted November 21, 2019 Share Posted November 21, 2019 SG also never say want Oh wait Link to comment Share on other sites More sharing options...
XianGe Posted November 21, 2019 Share Posted November 21, 2019 1 hour ago, meng.huat said: sounds like CSB... why dont they supply their own cities? shorter cables over land. Ya likely csb mate... Or fake news.. Link to comment Share on other sites More sharing options...
socrates469bc Posted November 21, 2019 Share Posted November 21, 2019 2 hours ago, The_King said: @socrates469bc just few day ago, i posted that the supply is much much more then the demand, and now got solar power, the demand not there, build so much for what 1 hour ago, meng.huat said: more like a scam. a few millionaires put in some seed money, sprinkle some high tech words... lure in the billions... burn away the investment project failed the few millionaires walk away rich with their fat "consultant fees" ah huat just answered ur question. i think they took a leaf from masayoshi son. 3 Link to comment Share on other sites More sharing options...
The_King Posted November 21, 2019 Author Share Posted November 21, 2019 13 minutes ago, socrates469bc said: ah huat just answered ur question. i think they took a leaf from masayoshi son. For a moment I thought who ah huat is 1 1 Link to comment Share on other sites More sharing options...
Huat Zai Posted November 22, 2019 Share Posted November 22, 2019 18 hours ago, socrates469bc said: ah huat just answered ur question. i think they took a leaf from masayoshi son. Here got 2 Ah Huat, be clear leh 1 Link to comment Share on other sites More sharing options...
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