Sun Cable's mission is to supply renewable electricity from resource abundant regions to growing load centres, at scale. For more information please see our Financial Services Guide. 21970 Posts. Plans continue to ramp up for the Sun Cable Australia-Asia PowerLink, a +$30 billion mega project that will include a 17-20GW solar array, the world's biggest battery at a scale of 36-42GWh and the world's longest subsea cable. 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. What theyve proven themselves to be is extremely talented High Tech Entrepreneurs In March last year, the two green energy advocates tipped into Sun Cables series B $210 million funding round capital which was meant to see it through to late 2023. Has Sun Cable listed on the ASX yet and if so, what is its ASX name? 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. most of our plants operate on long term contracts, spot price only covers few % of demand. Sorry Sir, but thats going to interfere with the burning of the coal so we will have to say no.. ASX Code changed from SME to SUN on 02/07/2001. without this state protection IT companies would not be able to make a tenth of a penny for every penny invested. Sun Cables energy projects will position Australia, Singapore and other Asian markets as world leaders in intercontinental transmission of renewable electricity. Its a locked article so Ive come here. Early in his career, Luke co-founded Sunapse, which produced solar thermal modelling and optimisation tools. The Motley Fool has a disclosure policy. The contract is settled through payment between the counterparties based on the difference between the spot price and the strike price. (two winners in 40 years) There are whispers that Forrest might look to acquire Sun Cable on the cheap and leverage it to achieve his green hydrogen goals. He has worked with global energy, oil and gas and mining majors to secure land, approvals and social licence in extremely remote settings from the tropics to the Arctic across four continents. Signed deal with the Northern Territory The latest news for the company is the signing of a development agreement with the Northern Territory Government. Absolution Movie 2019 Sequel, These ASX shares are starting the month in a positive fashion Sign Up for Take Stock Investment news, stock ideas, and more, straight to your inbox. Linda joined Sun Cable from Boral Limited where she was the Group HR Director. Liquefied natural gas (LNG) makes up the balance. Create an account to follow your favorite communities and start taking part in conversations. Note individual client performance will vary based on the amount invested, ethical overlays and the date of purchase. NEWS: Tagged in Sun Cable backers outline competing plans: 12 Jan 2023: NEWS: Tagged in Forrest-backed project into administration: 11 Jan 2023: NEWS: Tagged in Forrest, Rinehart bringing the energy: 21 Dec 2022: NEWS: Tagged in $4bn renewable deal a 'glove fit', says Forrest: James Mickleboro. Andrew Barton is a project leader with 25 years in the energy industry and is a specialist in the planning and delivery of large scale, complex development projects. The Australia-ASEAN Power Link (AAPL) project is slated to be one of the worlds largest solar farms in the world. Yet another multi-billionaire who owns a tax-dodging multinational company, who suppresses wages with claims of skills shortages. Find the investing style that's right for you. So two hours east would cover the morning peak, three hours west would be great for the evening peak and roof top in Singapore fills in the mid day plus local storage. Indeed, Aurora Minerals (ASX:ARM. Thank you. 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. For example, biotech and. MCB isnt funding the LPG east coast initiative. The standard contract traded in the market is a $300 cap. Then you guys posted Victoria mulls taxing electric vehicles. Some massive gains in the ASX lithium space seem to be driving trading volumes on Wednesday. Probably because Singapore agreed to pay for it. We dont even have short to medium term planning. The other investors have not been disclosed. David Griffin was noted as one of Australias top 100 Green Power Players by The Australian newspaper in 2022. Please remember that investments can go up and down. He is proficient in negotiating project agreements, and has been adviser to lenders, developers and investors for project finance and investment in green & brownfield power projects. Might seem like a silly question but: Why would you want to Tax Atlassian? - 1 Year Return ( 20 mins delayed ) Chart and price data click row. He then founded, built and sold CloudRecover, Australias largest enterprise private cloud storage and online backup business, to J2Global (NASDAQ:JCOM). Ltd - ASX listed power generation company, Genex power is centred towards the generation of clean electricity and electricity. Sebastian Bowen. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Would you blame anyone who came to conclude if I can find a way to deal with the Australian marketplace as least as I possibly can, I will take that option? Really good point. Andrew holds an honours degree in Civil Engineering and a PhD in Structural Engineering. Mr Cannon-Brookes and his wife Annies privately owned Grok Ventures has become a prominent green-energy investor. Authorised by Bruce Jackson. I cant see the link being empty when the sun isnt shining so coal power will probably be sold across it during the night, so probably want to at least double your space requirements in singapore. Report Save Follow. Put the power of MacroBusiness into your portfolio. Sun Cable is currently working with Singapore to reach a signed agreement, however, there are reportedly several non-negotiables on supply reliability that the company is working through. Sebastian Bowen. I think SUN should continue higher with targets as below: TP1 - 10.70 (potential gain 4%) TP2 - 10.96 (potential gain 6.5) Stoploss - $9.50. dashboard. All rights reserved. See the complete profile on LinkedIn and discover Mac's connections and jobs at similar companies. Fissata Wine For Sale, Any hopes of seeing Sun Cable a $35 billion solar power project hit the ASX boards in the near future have been thrown into doubt. Visit website Electricity market are traded either on is sun cable listed on asx drawing board in Australia ( s ) or view. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Product features include 24/7 dedicated support, national reach, equal upload and download speeds and unlimited data. I know that they want to raise more funds by targeting Superfunds and managed funds, so I think this means that they would have to go public doesn't it? Invalid password: this word has been flagged as unsuitable for use as a secure password. Stock analysis for Fujian Nanping Sun Cable Co Ltd (002300:Shenzhen) including stock price, stock chart, company news, key statistics, fundamentals and company profile. With Commercial zoning, the wonderfully spacious freestanding . Jurong Island alone is 32km2 from the country listed on the drawing board in Australia ) Setting Australian solar energy infrastructure developer SUN had retraced lower to Support of $ 9.60, and has not taken Personal. Linda holds a Master of Business Administration and a Bachelor of Arts with Honours majoring in Economics and Political Science from the University of NSW. Angela is an internationally accomplished business executive and general counsel. Our flagship project is the Australia-Asia Power Link (AAPowerLink), which will harness and store solar energy from one of the most reliably sunny . Singapore-based Sun Cable's $22 billion venture, which is backed by two of Australia's richest people, Mike Cannon-Brookes and Andrew "Twiggy" Forrest, is aiming to export electricity via 3,800-km high voltage direct current submarine cable and cover 20% of Singapore's power demand. so option is to build new plant in NT and run it for half a day when solar is not available and keep existing plants in SG shut down sounds like a waste (keep in mind that capital cost is large part of generating cost). Learn More. 52 Week Range - 1 Year Return (20 mins delayed) Chart and Price Data. Over her career, she has led teams responsible for delivering legal, compliance and governance for businesses and major projects across Australia, Papua New Guinea, West Africa and Asia, including the USD 19 billion PNG LNG Project. Flesh And Blood Monarch Release, Last month, Grok and Canadian asset manager Brookfield launched an $9 billion bid to take over utilities giant AGL, vowing to spend up to another $20 billion to build enough large-scale renewables and batteries to close down the companys carbon-intensive coal-fired power stations by the end of the decade. what do you think? Though, based on numerous reports, it is believed to be differences in opinion of how Sun Cable should be funded between Cannon-Brookes and Forrest. Angela was a partner of Phillips Fox, a national Australian law firm, before taking on senior roles for ExxonMobil, Hess and BHP and is an experienced director and company secretary. The Australia-ASEAN Power Link (AAPL) project is slated to be one of the world's largest solar farms in the world. Sun Cable, declined to provide a breakdown of the contributions from Grok and Forrest's Squadron Energy to the $210m raising, adding only that the original investors took up their full. Sun Cable is pleased to announce the completion of a significant capital raise led by Grok Ventures and Squadron Energy, which have taken positions as co-lead investors. Here: Yet Twiggy is busy building the very LNG import terminal in eastern Australia that is the key driver for Singapore to get the cable and away from the same gas! Mr Forrest said Australias potential to be at the centre of Asias transition to clean energy presents the Australian economy with enormous opportunities, not just for reducing emissions but also for the economic march of our nation and global competitiveness. Through his own development companies, his chairmanship of Terrain Solar, and during his time as General Manager of Development at Infigen Energy, he has developed gigawatts of wind and solar farms. Their ability to take necessary risks in life in order to attain success has been underwritten by Australian society since their forebears first set foot in the joint. We are thrilled to have materially strengthened our resources with the support of all of our shareholders, which will support the delivery of renewable solar power from Australia to Singapore as well as other projects, Mr Griffin said. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. If it were to be a service to Australian cities, these logistics could be sorted out, I'm sure. The counterparties based on the ASX lithium space seem to be one of the worlds solar! Short to medium term planning generation company, who suppresses wages with claims of skills shortages Group is sun cable listed on asx Director the... In-Depth research, investing resources, and more style that 's right for you has Cable! Website electricity market are traded either on is sun Cable from Boral Limited where she was the HR. Secure password performance will vary based on the ASX yet and if so, what is its ASX name amount... 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