Billionaire to back $14b Australian power project to supply Singapore

The solar power farm could export 3GW of power via subsea cable.

Reuters reports that Atlassian Corp co-founder Mike Cannon-Brookes has pledged to help fund an ambitious $14b project to supply solar power from northern Australia to Singapore by a subsea cable, citing local media reports.

The plan unveiled earlier this year by Singapore firm Sun Cable is to build the world’s largest solar farm in Tennant Creek in the Northern Territory, which could export 3GW of power via a 3,800 km (2360 miles) cable to Singapore.

Cannon-Brookes did not specify how much of the “insane” project his family fund, Grok, planned to finance but said he was being joined by other Australian entrepreneurs and an announcement was likely before the end of the year.

“I’m backing it, we’re going to make it work, I’m going to build a wire,” the Australian Financial Review (AFR) quoted Cannon-Brookes saying in an interview on the sidelines of the United Nations Climate Action Summit in New York.

Sun Cable, which has not detailed its funding plans for the project, did not immediately respond to a request for comment.

Read the full report here.