SINGAPORE - Australia's Sun Cable said on Friday that a federal government agency has upgraded the investment status of its Australia-Asia Power Link, a milestone the firm says will help with financing one of the world's largest and most ambitious renewable energy projects.plans to send electricity to Singapore via subsea cables from a vast desert solar power station south of Darwin in the Northern Territory.
This means it has met all requirements of the priority list and affirms the project's economic benefits. It will help government bodies such as the Northern Australia infrastructure Facility and Clean Energy Finance Corporation in any assessments in co-funding the power link, he said. Mr Griffin said he expects financial close, when all the project and financing agreements have been signed, to be in early 2024 with construction starting shortly after.The power will come from solar panel arrays covering 12,000ha about 800km to the south of Darwin. A portion of the power will be stored in large batteries on site, with batteries in Darwin and Singapore to ensure a 24-hour power supply. The goal is to have 3.