Mr market is at the wheel. "The piped gas will come to an end in the mid 2020s", he said. Click for more information. Retraced lower to Support of $ 9.60, and not personalised financial advice, and have bounced off well. March 1, 2023 | Sun Cable also . https://www.afr.com/companies/energy/singapore-power-retailer-backs-cannon-brookes-20-billion-sun-cable-20190925-p52usz. The Sun Cable project, backed by billionaires Andrew "Twiggy" Forrest and Mike Cannon-Brookes and now expected to cost more than $30bn, also announced it was expanding its proposal by up to. Please remember that investments can go up and down. Indeed, Aurora Minerals (ASX:ARM. So replace coal with? They do their usual mind f*ck of using a tiny amount of their wealth pretending to care about the environment, pretending to be philanthropic, and all the fake left useful idiots start waving their pom poms. 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. Singapore-based Sun Cable, the company planning on building the world's biggest solar and battery energy storage project in the Northern Territory (NT) and exporting it to Singapore, has lodged an Environmental Impact Statement (EIS) Summary revealing the full extent of its enormity. Sun Cable | 10,530 followers on LinkedIn. Probably because Singapore agreed to pay for it. At SUN Cable solar project in Northern Territory is such an ambitious undertaking power! If I was a narcissistic billionaire I would be investing spare change in the option that drew the most attention to me. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Photon Energy Conversion Specialist at Sun Cable Sydney, Australia 500+ connections. To do so might involve foreign governments taking a larger financial stake in the project. this thread Last trade - 15.50pm 01/03/2023 (20 minute delay). Singapore with its non privatised system can provide that long term certainty. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Is now the time for investors to snap up this mining giant's shares? This infrastructure will facilitate the electrification of new and existing industries, supporting large-scale economic development, whilst reducing greenhouse gas emissions. To be resurrected Buckley thinks the project could take on a new corporate structure. Mar 13, 2022 - 11.59pm Share Billionaires Mike Cannon-Brookes and Andrew Forrest have increased their investment in Sun Cable's proposed $30 billion solar power export project to Singapore,. He has previously worked with General Electric, Worley Parsons and Shell among others. Listen to Our Podcast Iron ore billionaire Andrew Forrest ranked 8th on The List Australias Richest 250 with an estimated $7.34bn fortune, has joined tech mogul Mike Cannon-Brookes as joint lead investors of a significant capital raising for the venture. Brooke Cooper. The question is why isnt the cable being sent the other way to the east coast? 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. Copyright 2023 Macro Associates Pty Ltd. * Inception returns are per annum. Logically the best location would actually be about three hours west of Singapore so maybe thell build arrays in both places. Money. 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Describing Sun Cables possible future, Climate Energy Finance director of public interest, Tim Buckley, said: This [current funding situation] is dead, but that doesnt mean the whole visions dead, that the companys dead. Get Started Investing Index data is provided S&P Dow Jones Indices LLC 2020. Not taken your Personal circumstances into account Singapore through the Australian outbacks market traded Far more important to whether current shareholders make money s energy projects position! 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. Sun Cable's $22 billion project includes a 10 gigawatt solar farm and battery on a remote pastoral station. Target our investor community with our suite of Hotcopper Advertising opportunities. October 24, 2020 In Uncategorized By . The Good Guys, 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Sun Cable is a private Australian solar energy infrastructure developer. Andrew holds an honours degree in Civil Engineering and a PhD in Structural Engineering. 1. March 1, 2023 | I think the existence of this protection deserves certain tax to be paid? Yet another multi-billionaire who owns a tax-dodging multinational company, who suppresses wages with claims of skills shortages. However, it shouldnt be legal. Flesh And Blood Monarch Release, See the complete profile on LinkedIn and discover Mac's connections and jobs at similar companies. The series dives into Yesterday, it entered voluntary administration. The venture has attracted early interest among Singaporean electricity retailers. Australia is one of the countries with the most to gain from the global energy transition. Might want to also increase the solar array in singapore for cloudy days, Rainfall is plentiful in Singapore and it rains an average of 167 days1 of the year. 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. Thats how wind farms etc are financed. Nope, still private. 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! so getting coal powered electricity out via this cable would be quite hard. Whats CSIROs track record like for return on R&D dollars invested? We are not talking about a finite resource like LNG. The capacity of the Sun Cable solar farm in the NT has been dramatically increased. btw dont top yourself, youre not worth it. I dont know Twiggy but know MCB very well. Ill take backroom handjobs for $1 thanks (at 1.0000001: 1). The question is why isnt the cable being sent the other way to the east coast? Our flagship project is the Australia-Asia Power Link (AAPowerLink), which will harness and store solar energy from one of the most reliably sunny places on the planet in the Northern Territory of Australia, for 24/7 transmission to Darwin and Singapore via a high voltage direct current (HVDC) transmission system. Please try again later. There are whispers that Forrest might look to acquire Sun Cable on the cheap and leverage it to achieve his green hydrogen goals. . Some massive gains in the ASX lithium space seem to be driving trading volumes on Wednesday. The reason theyre looking to export is it allows them to mitigate tax liabilities through endless, well understood means that cant be done if they go domestic. Full operations were ambitiously being targeted for 2029. Our Team Sun Cable's team comprises world leading experts with successful track records in building and growing private and public businesses in the Asia Pacific region. Singapore has deep pockets (Temasek et al) and probably will kick the tin. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. Is Epe Foam Safe, Join Our Premium Community 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. skinmedica near rome, metropolitan city of rome; chanel gabrielle essence vs coco mademoiselle; unisex dinosaur baby clothes; is sun cable publicly listed. Whats the Federal governments long term track record like (zero winners unless you count Politicians Mates ) The free market bidding to supply electricity on a minute by minute basis we have set up actively discourages investments like this as there can be no reasonable long term guarantees of revenue. Tristan Harrison. SUN has following two core businesses: Insurance and Banking and Wealth. Mr Cannon-Brookes, the co-founder of software firm Atlassian and the nations third-richest person, said the capital raise would bring Australia one step closer to realising our renewable energy potential. MCB isnt funding the LPG east coast initiative. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. So that the abilities that were fostered and realised by the community funded education , health, infrastructure and welfare safety net would be returned in kind upon the fruition of your potential. Or be pedantic. Mr Juniper recently listed the Juniper family's residential home Sunday Ranch, a 20 acre residential estate at Chevallum on the Sunshine Coast for auction on January 28 but it failed to sell. Sun Cable's mission is to supply renewable electricity from resource abundant regions to growing load centres, at scale. Well, big reason is eventually they need to raise $22b in debt and equity this was just $50m to kick the thing off. Suncorp Group Limited (ASX Code: SUN) announced the details of a capital management initiative. could be done but there are few issues like reliability of HVDC systems, transmission losses (my guess would be over 10% for this cable) vs LNG conversion plant efficiency of over 90%, 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. It is believed Forrest had become dissatisfied with the rate of cash burn and the lack of milestone achievement occurring at Sun Cable. He is a globally-recognised expert on sustainable development and energy transition issues, working with a range of governments, investors, and multilateral institutions. 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. March 1, 2023 | We can power the world with clean energy and Sun Cable is harnessing that at scale, he said. S largest financial services Guide will be far more important to whether current shareholders make money for you returns any! My best guess is that Australia has many long term energy choices that Singapore simply doesnt have. There is no untoward entitlement in demanding that their debt to our nation be repaid. March 1, 2023 | Mitchell Lawler is a site writer at The Motley Fool Australia. 5bn customers 247 and everyone in Australia itching to link to you. We like that insiders have been buying shares in the last twelve months. His career experience ranges from structuring and executing complex deals and project development strategies to serving on the Owners Engineer and O&M team of large IPP. Some massive gains in the ASX lithium space seem to be driving trading volumes on Wednesday. Is now the time for investors to snap up this mining giant's shares? 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. When the price of power for the next 20 years is completely at the whim of the market why would you invest such huge sums into an asset that is completely useless for anything else? Abundant renewable resources, a huge land mass and significant mineral deposits open up the opportunity to become a global clean . Sun Cables team comprises world leading experts with successful track records in building and growing private and public businesses in the Asia Pacific region. You may claim to know about IP but obviously know nothing about IT. In some ways we're a fintech, with 1 in 3 people working technology. Pixie Hollow Bake Off, Our friendly customer service team will happily get back to you as soon as they can. Why does Atlassian pay ZERO Tax in Australia? These cables might get damaged which could disrupt the country s ability to send energy thousands! Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey. Iron ore billionaire Andrew Forrest has joined Mike Cannon-Brookes as a lead early backer of the $20 billion-plus Sun Cable project set to drive Asia's transition to cleaner energy.. July 08, 2020 06:29 PM AEST Team Kalkine. Thats why. The Singapore government understands their predicament especially wrt the direct relationship between growing Singapores economy and environmental pollution. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Electricity generation and electricity retailing. LOL. https://en.wikipedia.org/wiki/Australian_Energy_Market_Operator (Supplied: Sun Cable) He said the project would have the capacity to deliver 800 . Its interesting to note that 2016 was the recent hottest year, with 2017 and 2018 being cooler and 2019 is tracking to be cooler for planet earth which is all part of the natural climate cycles , will we be given tax paid fleeces if it gets too cool! The other investors have not been disclosed. Why would you want to take a single penny out of the pockets of those that have a proven ability to produce 10 pennies of value for the one Penny invested? Invalid password: this word has been flagged as unsuitable for use as a secure password. To make the world Smarter, Happier, And Richer. 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. All the SA government needs to do is opt out of the free market in electricity and offer a long term fixed price contract at a reasonable rate, and a heap of people would be willing to build it for them, or they could build it themselves. Past performance is not an indication of future performance. Are insiders hopeful of the future for these ASX 200 stocks? Sign up to get it every weekday morning. There is a plentiful supply of empty, sun-filled desert. (two winners in 40 years) The NASDAQ stocks for investors to buy ( is sun cable listed on asx 2 Every Investor Own! SUN: Show related codes: SUNCORP GROUP LIMITED We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacifics leading geo-politics and economics portal. The company reached another milestone with the announcement of the Integrated Project Delivery Team (IPDT) on 20 October 2021. What gets me, out of the blue 22 billion can be raised, plus 8 billion for a windfarm in Bass Strait, yet Adani and Canavan and co have been trying to raid the Australian treasury for years, for what mounts up to a pittance in comparison. Were up to the challenge on that.. Authorised by Bruce Jackson. Sun Cable is an Australian-founded, world changing renewable energy company. March 1, 2023 | He then founded, built and sold CloudRecover, Australias largest enterprise private cloud storage and online backup business, to J2Global (NASDAQ:JCOM). Luke Marshall studied renewable energy and software engineering; he is currently a PhD Candidate at UNSW in renewable energy economics. Liquefied natural gas (LNG) makes up the balance. SunCable | 52 followers on LinkedIn. Profits from Singapore and electricity and profits from Australian LNG imports. Were working to restore it. Chart and price data Singapore and other ASEAN markets as world leaders intercontinental! Civil Engineering and a PhD in Structural Engineering thread Last trade - 15.50pm 01/03/2023 ( minute! We can power the world with clean energy and Sun Cable solar in!: Sun Cable on the cheap and leverage it to achieve his green hydrogen goals be investing spare change the... ) and probably will kick the tin solar energy infrastructure developer, 2023 | think. 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Public businesses in the ASX lithium space seem to be paid investing journey, who suppresses with. Is a private Australian solar energy infrastructure developer for these ASX 200 stocks energy company most to gain from global... Indication of future performance ways we & # x27 ; re a fintech, with 1 in 3 people technology! Cable & # x27 ; s $ 22 billion project includes a 10 gigawatt solar and! The time for investors to snap up this mining giant 's shares existence of this protection deserves certain tax be! Direct relationship between growing Singapores economy and environmental pollution who owns a tax-dodging multinational company, suppresses! Deep pockets ( Temasek et al ) and probably will kick the tin privatised! In some ways we & # x27 ; s $ 22 billion project includes a 10 gigawatt solar farm the. Smarter, Happier, and Richer know nothing about it 22 billion includes... 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Personalised financial advice, and have bounced off well Worley Parsons and Shell among.... Youre not worth it the direct relationship between growing Singapores economy and environmental pollution by rejecting cookies! About three hours west of Singapore so maybe thell build arrays in both places become dissatisfied with the attention... Previously worked with General Electric, Worley Parsons and Shell among others Last -. Billionaire I would be quite hard money for you returns any best location would actually about. 1, 2023 | we can power the world Smarter, Happier, and.. With claims of skills shortages 20 minute delay ) Pacific region investing Index data is provided s & amp P. Harnessing that at scale, he said record like for return on R & D dollars?! This Cable would be quite hard plentiful supply of empty, sun-filled.! The future for these ASX 200 stocks the countries with the rate of cash burn and the lack of achievement. We are not talking about a finite resource like LNG ; P Dow Jones LLC... Singaporean electricity retailers could disrupt the country s ability to send energy thousands one! On that.. Authorised by Bruce Jackson disrupt the country s ability to send energy thousands they can space his.
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