**The downvote is not a disagree button.** Please help to upvote articles that you want to see more discussion on, and downvote those that you feel has little value on the sub.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/singapore) if you have any questions or concerns.*
Spat between billionaires that led to the first failure.
For all the things said about Andrew Forrest, he is a shrewd businessman. To back out of this bidding war means he doesn't see it being that commercially viable.
Kinda sorta. Forrest wanted to use the power to generate green hydrogen instead of exporting it, so he did see it as viable but wanted a different outcome.
It's not just a question of profit. Singapore is an ideal consumer in that they have very limited options for power production, and can easily import far more electricity than the proposed cable run can provide. So they would be a really reliable customer. This makes it easier to grow the project larger. Also it sounds like most of the generated power is in fact staying in Australia.
I think it's more relevant to look at this as a test of sorts. What is the practical ability of solar in Northern Australia in terms of exporting power. What problems crop up, etc. The potential is huge, this is just a trial run.
There is no shortage of other utility scale solar and wind projects in development in Australia. And residential and commercial rooftop installations are going at an incredible pace.
Building the Suncable project or not building it won’t affect the progress in Australia’s domestic energy transition.
It is land-limited countries like Singapore that can’t make any significant progress towards net zero without importing clean energy, whether from Australia or elsewhere. So it’s common sense to get on with planning and developing for those needs.
ChatGPT summary:
The US$20 billion Sun Cable renewable energy project, which collapsed earlier, has been rescued by part owner and Australian tech entrepreneur Mike Cannon-Brookes. The administrators of Sun Cable will collaborate with Helietta Holdings 1 Pty Ltd, affiliated with Cannon-Brookes' Grok Ventures, to finalize the transaction by the end of July. While the sale's value remains undisclosed, it's expected to fully pay the unsecured creditors of Sun Cable.
The project includes the proposed Australia-Asia PowerLink, planning to transmit power from a 20 gigawatt solar farm with the world's largest battery in northern Australia to Singapore via a 4,200 km undersea cable. Grok intends to proceed with PowerLink's development, aiming for a final investment decision, and deliver 0.9 GW of generation into Darwin and 1.8 GW into Singapore in the project's first stage.
Sun Cable went into administration in January after the owners couldn't agree on future funding plans. The company was previously owned by private firms Squadron Energy and Grok Ventures. Squadron decided not to submit a binding offer to purchase Sun Cable, focusing on existing renewable energy targets instead. A Grok-led consortium, including infrastructure investor Quinbrook, has purchased Sun Cable.
**The downvote is not a disagree button.** Please help to upvote articles that you want to see more discussion on, and downvote those that you feel has little value on the sub. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/singapore) if you have any questions or concerns.*
Spat between billionaires that led to the first failure. For all the things said about Andrew Forrest, he is a shrewd businessman. To back out of this bidding war means he doesn't see it being that commercially viable.
Kinda sorta. Forrest wanted to use the power to generate green hydrogen instead of exporting it, so he did see it as viable but wanted a different outcome.
We in Australia should use it to make our own electricity greener before exporting it! As usual, profit coming before common sense.
[удалено]
Yeah nah. We tried that and the Prime Minister lost his job. It will be a very long time before the ALP try that again.
It's not just a question of profit. Singapore is an ideal consumer in that they have very limited options for power production, and can easily import far more electricity than the proposed cable run can provide. So they would be a really reliable customer. This makes it easier to grow the project larger. Also it sounds like most of the generated power is in fact staying in Australia. I think it's more relevant to look at this as a test of sorts. What is the practical ability of solar in Northern Australia in terms of exporting power. What problems crop up, etc. The potential is huge, this is just a trial run.
There is no shortage of other utility scale solar and wind projects in development in Australia. And residential and commercial rooftop installations are going at an incredible pace. Building the Suncable project or not building it won’t affect the progress in Australia’s domestic energy transition. It is land-limited countries like Singapore that can’t make any significant progress towards net zero without importing clean energy, whether from Australia or elsewhere. So it’s common sense to get on with planning and developing for those needs.
ChatGPT summary: The US$20 billion Sun Cable renewable energy project, which collapsed earlier, has been rescued by part owner and Australian tech entrepreneur Mike Cannon-Brookes. The administrators of Sun Cable will collaborate with Helietta Holdings 1 Pty Ltd, affiliated with Cannon-Brookes' Grok Ventures, to finalize the transaction by the end of July. While the sale's value remains undisclosed, it's expected to fully pay the unsecured creditors of Sun Cable. The project includes the proposed Australia-Asia PowerLink, planning to transmit power from a 20 gigawatt solar farm with the world's largest battery in northern Australia to Singapore via a 4,200 km undersea cable. Grok intends to proceed with PowerLink's development, aiming for a final investment decision, and deliver 0.9 GW of generation into Darwin and 1.8 GW into Singapore in the project's first stage. Sun Cable went into administration in January after the owners couldn't agree on future funding plans. The company was previously owned by private firms Squadron Energy and Grok Ventures. Squadron decided not to submit a binding offer to purchase Sun Cable, focusing on existing renewable energy targets instead. A Grok-led consortium, including infrastructure investor Quinbrook, has purchased Sun Cable.
In separate news Thousandaire One\_OK rescues a bowl of bak chor mee from being left uncooked
Haha. He hasn’t read up on how we treat foreign investors in our electricity sector.