Sun Cable receives financing for World's largest Powerlink project
Sun Cable has completed an AUD210 million (USD151.07 million) Series B capital raise with their existing shareholders to fund the development work of the Australia-Asia PowerLink (AAPowerLink) project.
The 5,000 km transmission system is the world’s largest intercontinental renewable Powerlink project that connects Australia to Singapore. It will harness and store solar energy from the Northern Territory in Australia and transmit it to Darwin and Singapore via a high voltage direct current (HVDC) cable transmission system.
Led by Grok Ventures and Squadron Energy (a wholly owned subsidiary of Tattarang), the capital raise intends to support Sun Cable’s development for the Powerlink project, and its mission, to supply renewable electricity from resource-abundant regions to growing load centers, at scale.
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