Menu Close

Australia Moves To Become Mammoth Renewable Energy Exporter

As well as being a world-class LNG exporter, Australia may soon become a major exporter of renewable energy.

 

Engineers are now looking to connect Singapore with Darwin, using a 3,800-kilometer undersea cable, effectively connecting the South-East Asian country to the Australian grid.

 

Perth-based company Guardian Geomatics has been awarded the contract to conduct a route survey for the Sun Cable project which is backed by Atlassian founder Mike Cannon-Brookes and Fortescue Metals founder Andrew Forrest.

 

The two billionaire backers led a capital raising round for the project last November. And while the total amount of money raised remains undisclosed, the two funds Grok Ventures and Squadron Energy raised tens of millions of dollars during this first capital raise. The total cost of the project is expected to be around $13 billion.

 

Guardian Geomatics will commence preparations this month, with initial plans to utilize sister company Guardian Offshore’s vessel “Offshore Solution” to deliver the work, starting later in 2020.

 

Read More:

Full Article

 

 

 

 

 

 

 

 

 

Related Posts

21 Comments

Leave a Reply

Your email address will not be published.