By The Financial District
Aussie Tech Billionaire To Head $20-B Solar Export Project
Australian software mogul Mike Cannon-Brookes was named chairman on Friday of clean energy start-up Sun Cable, which is seeking to secure funds for a proposed A$30 billion-plus ($19.3 billion-plus) solar power export project, Lewis Jackson reported for Reuters.
Photo Insert: Cannon-Brookes, co-founder of project management software maker Atlassian and an investor in Sun Cable since 2019, said he was "thrilled" to take up the role at the company.
Singapore-based Sun Cable plans to supply solar power from Australia to Singapore and eventually Indonesia through the world's longest subsea high voltage cable, linked to a 17-20 gigawatt solar farm, as well as an energy storage facility of up to 42 GWh in Australia's Northern Territory.
Cannon-Brookes, co-founder of project management software maker Atlassian and an investor in Sun Cable since 2019, said he was "thrilled" to take up the role at the company, which is yet to break ground on the planned 4,500 km (2,800 mile) undersea cable.
The project, also backed by iron ore magnate and Fortescue Metals (FMG.AX) founder Andrew Forrest, received an "investment ready" tick in June from Infrastructure Australia, an independent body tasked with evaluating infrastructure projects.
Construction is planned to start in 2024 with full operations commencing in 2029.
"Australia can and should be a global leader in clean energy exports. Sun Cable is at the forefront of making Australia a renewable energy superpower," Cannon-Brookes said in a statement.
Sun Cable Chief Executive David Griffin pointed to Cannon-Brookes' experience in "rapidly building business to a global scale."
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