[ad_1]
SYDNEY, Oct 7 (Reuters) – Australian software mogul Mike Cannon-Brooks was named chairman of clean energy startup SunCable on Friday. Energy export project.
Singapore-based Sun Cable plans to provide up to 42 GWh of energy storage in Australia via the world’s longest undersea high-voltage cable connecting Australia to Singapore and eventually Indonesia with 17-20 gigawatts of solar power. Northern Territory.
Cannon Brooks, founder of project management software maker Atlassian ( TEAM.O ) and an investor in Sun Cable since 2019, said he was “thrilled” to take on the role at the company. The proposed 4,500 km (2,800 mi) submarine cable.
“Australia can and should be a global leader in clean energy exports. SunCable is at the forefront of making Australia a renewable energy superpower,” Canon Brooks said in a statement.
Sun Cable CEO David Griffin pointed to Canon Brooks’ experience in “quickly building a business on a global scale.”
The project, backed by iron ore magnate and Fortescue Metals ( FMG.AX ) founder Andrew Forrest, received an “investment-ready” mark in June from the independent body responsible for evaluating infrastructure projects.
Construction is scheduled to begin in 2024 and be fully operational by 2029.
After Sun Cable appointed Macquarie Capital, Mollis and MA Financial Group as financial advisers in July, capital raising is underway for the project, which is on target for completion in early 2024.
Cannon-Brookes’ environmental activism has been making waves in corporate Australia, with its bid to buy AGL ( AGL.AX ) Australia’s biggest power generator earlier this year and hastening the closure of AGL’s coal-fired power plants in a decade.
($1 = 1.5567 Australian dollars)
Sign up now for unlimited access to Reuters.com
Reporting by Louis Jackson; Editing by Richard Pullin
Our standards: The Thomson Reuters Trust Principles.
[ad_2]
Source link
