Sun Cable’s mega project includes the proposed Australia-Asia PowerLink, which would send power from a 20 gigawatt (GW) solar farm with the world’s biggest battery in northern Australia across a 4,200km long undersea cable to Singapore.
Grok intends to push ahead with PowerLink’s development toward a final investment decision, with stage 1 of the project due to deliver 0.9 GW of generation into Darwin and 1.8 GW into Singapore, according to the administrator’s statement.
Sun Cable was placed in administration in January after its owners failed to agree on future funding plans.
The Singapore-based firm was owned by the private firms of two of Australia’s richest people, Andrew Forrest’s Squadron Energy and Cannon-Brookes’ Grok Ventures.
In a separate statement, Forrest said Squadron did not submit a binding offer to buy Sun Cable and would instead focus on its existing renewable energy targets.
“We remain unconvinced of the commercial viability of the Australia-Asia Powerlink but if others believe it can be achieved, we wish them all the best,” he said.
Forrest had previously said Sun Cable should not push ahead with PowerLink.
Infrastructure investor Quinbrook joined a Grok-led consortium to buy Sun Cable, Grok said in a statement.
