The $30 billion-plus solar power export venture Sun Cable has been deemed “investment-ready” in a step set to build confidence in its economic viability.
The $35 billion solar power export venture Sun Cable is primed to ramp up efforts to attract government and private backers to meet its target of a final investment decision by early 2024, after it was deemed “investment-ready” by Infrastructure Australia.
It estimated that the project would cut the cost of electricity in Darwin by about 12 per cent, and improve quality of life by reducing greenhouse gas emissions. Those benefits were valued at $184 million and $3.15 billion, respectively. It is estimated the project will deliver $8 billion in investment in Australia and $2 billion in annual export revenues, starting in 2028, roughly the same as the dairy industry today.