The Northern Territory Authorities has handed laws that can facilitate the world’s greatest photo voltaic and battery storage undertaking, the $30 billion Solar Cable Australia-Asia PowerLink undertaking.
The undertaking – which is able to comprise as much as 20GW of photo voltaic and 42GWh of battery storage, in addition to a significant transmission line, converter website and sub sea cable to Singapore – will remodel the Prime Finish right into a renewable power powerhouse.
“The AAPowerLink will remodel the Territory right into a inexperienced industrial hub and set up a brand new power export business for Australia,” the federal government says. “It will have optimistic circulate on advantages for Territory companies.”
The undertaking has been backed by billionaires Andrew Forrest and Mike Cannon-Brookes, and the brand new laws confirms the “main initiatives” standing that was introduced in 2019.
The federal government mentioned the Photo voltaic Undertaking (Australia-Asia Energy Hyperlink) (Particular Provisions) Invoice 2022 will present certainty for the undertaking, and make clear and streamline current processes, improve undertaking certainty, and assist Solar Cable to safe undertaking financing.
“The Australia-Asia PowerLink will likely be constructed right here within the Territory. Will probably be a significant financial driver, and it’ll put the Territory on the worldwide map relating to renewables,” Minister for Territory Improvement Eva Lawler mentioned in a press release.
The Solar Cable undertaking is described because the world’s “largest and most technologically superior renewable power transmission system.”
It consists of the world’s largest photo voltaic farm and battery within the Barkly area, plus a converter website and transition amenities at Murrumujuk, close to Gunn Level.
Solar Cable mentioned the passage of laws is one other vital milestone and can facilitate the pathway to the undertaking, which it says can even unlock large-scale inexperienced business growth within the Territory, and decrease emissions.
The sheer scale of the undertaking was underlined within the voluminous environmental influence assertion launched final month, which got here after Forrest and Cannon-Brookes led a $210 million fund elevating for the undertaking.
Giles Parkinson is founder and editor of Renew Economy, and can also be the founding father of One Step Off The Grid and founder/editor of the EV-focused The Driven. Giles has been a journalist for 40 years and is a former enterprise and deputy editor of the Australian Monetary Evaluate.
