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Funding secured for $20B energy project in Top End

Sun Cable workers
Sun Cable workers

A $20 billion utilities development in Northern Australia has received a welcome funding injection.

Grok Ventures and Squadron Energy have agreed to both invest in Sun Cable’s Australia-Singapore Power Link Project near Tennant Creek, 990km south of Darwin.

The funding means 1000 construction jobs and 300 operational positions will be created for one of the world’s largest solar farms in the world. QMEB can reveal local contractors are in the process of being procured and will start manufacturing the prefabricated solar farm technology in both Darwin and Adelaide.

The project involves building a 10 gigawatt (GW) solar farm and a 20GW to 30GW per hour storage facility to supply the Darwin and Singapore markets via high-voltage direct current transmission.

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‘Twiggy’ Forrest involved

Grok Ventures is the family investment firm of computer software tycoons Mike and Annie Cannon-Brookes, while Squadron Energy is chaired by mining magnate Andrew Forrest.

“This is critical for growing the number of local permanent jobs for the Territory,” Northern Territory Chief Minister Michael Gunner said in a public statement. “Mike Cannon Brookes knows the Territory is a great place to invest and is already backing this project and the Territory’s future. Andrew Forrest is one of Australia’s most important business leaders and he is backing Sun Cable’s vision for the Northern Territory.”

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