Sun Cable and the Battle of the Billionaires

Singapore lit up at night

Previously, Edge has discussed the electricity markets’ move away from coal and gas to renewable energy and firming technologies. Last week it was announced that the Australia-Asia PowerLink project (AAPP) better known as SunCable had gone into voluntary administration.

SunCable was planned to be the world’s biggest solar and battery storage project and was backed by some of the largest renewable energy developers in Australia, namely Mike Cannon-Brookes from Grok Ventures and Squadron Energy’s Andrew Forrest.

It appears from the outside the decision to wind up the company was due to a lack of alignment of the companies’ objectives by the shareholders but is there more to the story. SunCable was to provide renewable energy generated in Australia and transport it via a 4,200km underseas cable to Singapore. Powering the project would be a huge solar farm near Elliott in the Northern Territory with the first part of the project planned to start construction next year. The 20GW Elliott solar farm would be firmed with a 42GWh battery.

Following the announcement of SunCable going into administration the federal government remains positive on the future prospect of SunCable. Are two billionaires too much for a business like this? Will one of them retain control of the company?

Feedback from Minister Bowen suggests following discussions with senior individuals at SunCable, there are no plans to stop moving forward with the project.

Minister Bowen said “It’s a change of approach and corporate structure, but of course in that regard that is entirely a matter for them”. Following a restructuring process, it looks like AAPP will still go ahead but most likely led by only one billionaire.

If you would like a strategy to ensure your company procures energy to support sustainability and growth in renewables  please reach out to discuss your options.  To save on electricity spend, you can also join our Edge Utilities Power Portfolio, read more: or call us on: 1800 334 336 to discuss.