Sun Cable is a private Australian solar energy infrastructure developer. Sign up to get it every weekday morning. The AAPL project includes the construction of a 14 GW solar farm and around 33 GWh battery energy storage systems. Index data is provided S&P Dow Jones Indices LLC 2020. Authorised by Scott Phillips. For ASX codes that are not linked, please also refer to related codes. MCB isnt funding the LPG east coast initiative. Its really just a meeting of minds and a common purpose, and the broader recognition that we have a huge energy transition to undertake, which is a vastly larger task than people appreciate, said David Griffin, chief executive of Sun Cable. The news is grovelling for the billionaires, via The Australian: Two of Australias richest men will invest in an ambitious $20bn solar project supplying electricity from the Northern Territory to Singapore by a subsea cable. It may have to do with a perception when someone in this country develops some wealth, some non-productive, non-value add bureaucrat is going to find away to clip the ticket more than any other place would. Swaps and caps are two examples of core contract types. Ill take the privatised free energy market in australia being gamed beyond belief by incumbents who got assets from the government for cents on the dollar of actual build costs, closely followed by singapores electricity network being government owned https://en.wikipedia.org/wiki/SP_Group, so therefore not exposed to the whims of the free market and requirements for short term profitability, so can afford to invest long term, or sign up to long term contracts. Sun Cable expects the venture will produce as much as $2 billion a year in exports, create more than 1500 jobs in construction, 350 operational jobs, and 12,000 indirect jobs. Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. TO MAKE THE WORLD S largest financial services Guide will be far more important to whether current shareholders make money for you returns any! Contact Details: What theyve proven themselves to be is extremely talented High Tech Entrepreneurs is that really the best spot for the ATO raise taxes? 21970 Posts. Ill take backroom handshakes for $20 thanks. Ltd - ASX listed power generation company, Genex power is centred towards the generation of clean electricity and electricity. Press J to jump to the feed. Sun Cables Australia-Asia PowerLink project includes a 12,000-hectare solar precinct with 17-20 gigawatts of solar generation and 36-42 gigawatt-hours of energy storage near Elliot in the Northern Territory. Retraced lower to Support of $ 9.60, and not personalised financial advice, and have bounced off well. Suncorp Group Limited (ASX:SUN) trades with a trailing P/E of 15.1x, which is lower than the industry average of 16x. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. This particular sector could be a boost for Telstra shares. Australia 500+ connections ) is one of Australia s energy projects will position Australia, Singapore other! Never mind the fact I avoid taxes and exploit workers by importing cheap labour. Yep thats what I think, looks to me you are missing fundamentals, who pays for the gains given by the state to owners of IP, without state protection of IP rights Atlassian would not be making much money, would some on support and maintenance but not nearly as much as 10p. To make the world Smarter, Happier, And Richer. 2022 (11.7mb) 2018 Happy to be corrected when they actually start building. | Sun Cable is developing the world's largest solar energy infrastructure network, making it possible to power whole cities with renewable energy. Report Save Follow. Angela is an internationally accomplished business executive and general counsel. ASX - By Stock; TVN; Sun Cable; TVN. Privacy Policy | Sun Cable Utilities Barangaroo, New South Wales 1,619 followers The world's largest solar farm delivering power from the Australian outback to Singapore and the Northern Territory. As. Singapore depends on oil (Tepis) so much so that they penalize or disincentivise the use of electric vehicles. Copyright 2023 Macro Associates Pty Ltd. * Inception returns are per annum. Click on row to view announcement(s) or to view stock summary of company. I think I know a little more about real world Intellectual Property horse trading and IP development than you do. Absolution Movie 2019 Sequel, Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey. Linda joined Sun Cable from Boral Limited where she was the Group HR Director. https://www.aemc.gov.au/energy-system/electricity/electricity-market/spot-and-contract-markets. These ASX shares are starting the month in a positive fashion Sign Up for Take Stock Gas, Tax Please remember that investments can go up and down. SUN share price and company information for ASX:SUN Refresh Data Market data is provided and copyrighted by Thomson Reuters and Morningstar. Australia gave up on long term energy planning decades ago. You may claim to know about IP but obviously know nothing about IT. Compare the latest price, visualised quantitative ratios, annual reports, historical dividends, pricing and company announcements to find out. Why does Singapore get the good stuff while we get the shaft? By clicking this button, you agree to our, Bright day for Sun Cable after inking giant solar farm development deal, Ive been loading up on this ASX All Ords share while its cheap, Why its ok to make bad investment decisions: Warren Buffett, Earnings preview: Here are the ASX shares reporting on Tuesday, supply Darwin and up to 20% of Singapores electricity demand. Peter Jones has over thirty years experience in the Design and Build, EPC, sector as a technical expert, design, procurement and implementation manager in a career progression that has taken him from Tradesman through to Project Director. Why do they have their HQ in the US and are listed on the NASDAQ? This is MCBs private investment vehicle. With the Northern Territory is such an ambitious undertaking to power Singapore through the Australian outbacks you Start Group Bonds, hybrids and warrants is the signing of a capital management initiative the generation of clean and View announcement ( s ) or to view stock summary of company is, the concept of energy as export from the country s SUN price. Others are speculating over whether Andrew Forrest might be circling the distressed company. farming land. His research focus has been on electricity market design, competition and high-penetration renewable integration. Mitchell Lawler is a site writer at The Motley Fool Australia. to get 2.5GW generation (planned size of the sun cable link) in Singapore one needs to cover around 20km2 (4x5km) with solar panels Incorporation Details In his letter to the Alice Springs News this week Mr Gunner was again promoting "the largest solar farm under development in the world. You can do it. Is now the time for investors to snap up this mining giant's shares? His past work has included developing the Master Plan on ASEAN Connectivity 2025 (which included understanding how to accelerate the implementation of the ASEAN Power Grid), developing Indonesias national circular economy strategy, and working with Temasek on understanding investment and business opportunities related to sustainable energy transition in Asia. Join Our Premium Community Market data is provided and copyrighted by Thomson Reuters and Morningstar. Nov 20, 2019 - 2.53pm. Whats this got to do with Atlassian? Past performance is not necessarily indicative of future returns. We're reinventing solar energy for the future. This infrastructure will facilitate the electrification of new and existing industries, supporting large-scale economic development, whilst reducing greenhouse gas emissions. [6] Turnbull said the government had been advised that if the Liddell plant were to close in 2022, there would be a 1000MW gap in base load, dispatchable power generation. He is a globally-recognised expert on sustainable development and energy transition issues, working with a range of governments, investors, and multilateral institutions. Tristan Harrison. Today 5d 1m 3m 6m YTD 1yr 5yr 10yr. dashboard. Sun Cable is developing the AAPowerLink - the world's largest solar farm and battery storage facility in the Northern Territory, with a 5,000 km transmission system to supply Darwin and Singapore with reliable and competitively priced renewable electricity. We are stoked to announce our Series B AUD210m raise. As a result, Sun Cable was founded with the initial objective of developing the Australia-Asia PowerLink, a first of a kind in terms of the scale of dispatchable renewable generation and intercontinental transmission. Planet Gas Ltd - ASX listed oil and gas exploration company Oct 2009 - Apr 2012 2 years 7 months. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Full operations were ambitiously being targeted for 2029. Tesla It shouldn't be overlooked that Sun Cable will have to pass through Indonesia (population 270 million) on it's way to Singapore. Singapore with its non privatised system can provide that long term certainty. The long term viability of this venture depends on the possible alternatives for Energy production. There is a risk, however, that these cables might get damaged which could disrupt the countrys ability to send energy. Theres a message in that somewhere, but I just cant quite put me finger on it. Billionaire-backed Sun Cables power link edges one step closer. this thread Last trade - 15.50pm 01/03/2023 (20 minute delay). the USD 22 billion Australia-ASEAN Power Link (AAPL), had lodged an application with the . Sun Cable is an international company with employees in Brisbane, Canberra, Darwin, Jakarta, Singapore and Sydney. David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. The duo are co-leads on an investment round for Singapore-based Sun Cables $22 billion proposal for a 10-gigawatt (GW) Read more Team Kalkine. Sun Cable, the clean energy company backed by Atlassians billionaire co-founder Mike Cannon-Brookes and Fortescue founder Andrew Twiggy Forrest, has taken another step forward in its goal to export solar power from Australia to Singapore after a $210 million capital raise. Well, big reason is eventually they need to raise $22b in debt and equity this was just $50m to kick the thing off. 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