The first stage of a major solar project funded by a billionaire was approved by Australia’s government on Wednesday.
The project, known as AAPowerLink, aims to export solar power to Singapore.
Mike Cannon-Brookes, a billionaire, purchased SunCable, the company that developed the project.
The power cable will run from Australia’s Northern Territory to Singapore. It will have a capacity of more than 20 gigawatt.
The region doesn’t have enough land for the production of renewable energy.
The project, which is expected to be one of the biggest solar farms in the world, will also have an overhead cable that connects to Darwin.
According to Tanya Plibersek, the minister for environment, the project will help Australia become the world leader in renewable energy.
The first phase of the project involves 4 gigawatt of solar panels.
According to SunCable, it will focus on completing the project’s final investment decision by 2027.
It also aims to start exporting electricity by 2030.
The company has to secure the necessary approvals from Indonesia, Singapore, and Australia.