A place for Australians to discuss securities within Australia and abroad. Pretty clear thinking there from a moron! Well, big reason is eventually they need to raise $22b in debt and equity this was just $50m to kick the thing off. The latest news for the company is the signing of a development agreement with the Northern Territory Government. Wow looks like Ive got a Stan problem Suncorp Group Limited (SUN) is one of Australias largest financial services brands. Contracts in the national electricity market are traded either on the ASX or bilaterally. Employing 457s for cheap? Hear our experts take on shares, the market & how to invest. Backed by Atlassian founder Mike Cannon-Brookes and Fortescue's Andrew Forrest, Sun Cable is vying to build the world's first intercontinental power grid supplying renewable power. He has overseen diverse portfolios of major and mega scale infrastructure projects, from front-end feasibility and concept development, government and regulatory approvals, financial investment decisions and project execution including design, construction and operational handover. Click on row to view announcement(s) or to view stock summary of company. The Australia-ASEAN Power Link (AAPL) project is slated to be one of the worlds largest solar farms in the world. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. Probably because Singapore agreed to pay for it. March 1, 2023 | The AAPowerLink project is the first of its kind and the first of many. Sun Cable Pty Ltd $30+B Contact Details Industry Capability Network (NT) +61 8 8922 9422 Send email enquiry Respect for Communities in Which We Operate Sun Cable will consult and work with the communities in which we operate to identify and create benefits for the region. My final monhtly (Apr 19) water+electricity bill from the SP Utilities was SG$23. Others are speculating over whether Andrew Forrest might be circling the distressed company. To be resurrected Buckley thinks the project could take on a new corporate structure. Atlassian founders definitely arent saints, but who in the real world is? Hear our experts take on shares, the market & how to invest. They got some Silicon Valley VC money back in the day and every Silicon Valley VC will want to exit on NASDAQ. Listen to Our Podcast Create an account to follow your favorite communities and start taking part in conversations. Our flagship project is the Australia-Asia Power Link (AAPowerLink), which will harness and store solar energy from one of the most reliably sunny . In a statement shared yesterday, Sun Cable revealed it had gone into administration rocking the Australian renewable industry. https://www.afr.com/companies/energy/singapore-power-retailer-backs-cannon-brookes-20-billion-sun-cable-20190925-p52usz. = more than one announcement was made. Website http://suncable.energy Industries Utilities Company size 51-200. Look at me, I am such a good citizen and leading the world in technology. never been outback huh? The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Past performance is not necessarily indicative of future returns. Please choose another, Invalid password: must not contain more than 3 consecutive identical characters, Invalid password: must not contain more than 3 consecutive sequential characters, The password cannot contain the user name, given name, or family name. . The companys ambitious flagship $22 billion solar farm project plans to supply Darwin and up to 20% of Singapores electricity demand, as reported by the ABC. Mitesh has 26 years of experience in the energy industry with expertise in power business. Scott just revealed what he believes are the five best ASX is sun cable listed on asx for investors to right! Were sorry, this feature is currently unavailable. The AAPowerLink project has the potential to create thousands of jobs, creating opportunities for local businesses and suppliers, as well as innovation and investment in Australia, Singapore and Indonesia. Some career highlights include: Chief of Staff to Sir General Peter Cosgrove KC MC, for the reconstruction of FNQ after Cyclone Larry; leading Aboriginal community assistance programs to build infrastructure and deliver training on Palm Island; and leading Queensland Government departments infrastructure teams to deliver major state-wide infrastructure programs for new ambulance stations, fire stations and schools, and the infrastructure to introduce Prep into primary and transition Year 7 into secondary schools. Brooke Cooper. . Whats the purpose of R&D cretids? Guess which ASX 200 share outperformed all others today despite only silence from the company. Were working to restore it. Straddling the equator as it does, VRFB would have to be the battery of Weekly summary displayed Sat-Sun. Profile; Follow; Megafauna . Each company boasts strong growth prospects over the next 3 to 5 years, and most importantly each pays a generous (and fully franked) dividend! My best guess is that Australia has many long term energy choices that Singapore simply doesnt have. Although, when are we running the pipeline from the gulf of carpentaria to fill up lake eyre?? Name changed to Suncorp-Metway Ltd (SME) on 06/05/1997. March 1, 2023 | March 1, 2023 | Known as the corner store in the early 1900's and offered to the market for the first time, this incredibly versatile home offers a combination of standout convenience and flexibility designed to enjoy the home as is, or run a small business. S largest financial services Guide will be far more important to whether current shareholders make money for you returns any! As of 2019, the share of Australias renewables is increasing mainly due to the consistent uptake of solar power in the residential and commercial sector. According to the release, the company determined it was necessary amid an absence of alignment with the objectives of all shareholders. (two winners in 40 years) Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The companys shares are up 31% in the last year. In what would be the worlds first intercontinental electricity grid, Sun Cable is seeking to develop a 4200-kilometre underwater transmission line with the potential to supply enough power from a giant solar and battery complex in the Northern Territory to meet up to 15 per cent of Singapores demand. If you have someone thats good at this you should logically channel money towards themanyway thems my thoughts, one fundamental questions rarely gets asked: how do these people produce 10 pennies of profit for the one penny invested? ASX:SUN Recent Insider Trading June 4th 2020. Dr Forrest, Australias second-richest person, has been spearheading a multibillion-dollar effort to diversify WA-based iron ore miner Fortescue Metals Group, which presently generates 2 million tonnes of greenhouse gases a year, into a clean energy powerhouse spanning wind, solar, batteries and zero-emissions hydrogen. 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. HotCopper is Australia's largest free and independent stock market trading forum for ASX share prices & stock market discussions. But, also, once its built, the rest of Australia will link to it and everyone will have guaranteed demand day and night of Well, once you hit mainland Asia, your final demand can come from China, India, ME, Europe, Africa. I cant see the link being empty when the sun isnt shining so coal power will probably be sold across it during the night, so probably want to at least double your space requirements in singapore. Sun Cable is building one of the world's largest renewable energy infrastructure projects, the AUD30+ Billion Australia-Asia PowerLink (AAPowerLink), which will supply renewable electricity to Darwin and Singapore. The Australia-Asia Power Link (AAPowerLink) is a proposed electricity infrastructure project that is planned to include the world's largest solar plant, the world's largest battery, and the world's longest submarine power cable.A solar farm in Northern Territory, Australia, will produce up to 20 gigawatts of electricity, most of which will be exported to Singapore, and at a later point . At Risk Of Synonym, Starting with the successful development and operation of Australias first utility scale wind farm (Alinta Wind Farm) in the 2000s, hehas been active in developing utility-scale solar and wind farms in Australia and South Africa ever since. Sun Cable is a private Australian solar energy infrastructure developer. Some massive gains in the ASX lithium space seem to be driving trading volumes on Wednesday. The Motley Fool has a disclosure policy. Electrical and telephone cabling and the Queensland Industry development Corporation ( QIDC.. A significant Series a capital management initiative not guarantee the performance of, or returns on investment - 2021 the Motley Fool Australia Pty Ltd. all rights reserved 9.60, and have bounced off well. Mark loves getting out on-country, building partnerships and taking ideas from concept to reality. This article contains general investment advice only (under AFSL 400691). 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. However, that these cables might get damaged which could disrupt the ., within its portfolio sports 770 MW of renewable energy generation and projects. It was labelled investment-ready six short months ago. Rest assured this doesnt necessarily mean the solar project will be canned. Atlassian would never have been created without the structural support of our society. Sun Cable is expected to cost over A$30 billion. Billionaire-backed Sun Cables power link edges one step closer. Full operations were ambitiously being targeted for 2029. If it were to be a service to Australian cities, these logistics could be sorted out, I'm sure. In order to deliver power to Singapore, Sun Cable will need to lay 3,750 kilometres of undersea cable from the Darwin Harbour to Singapore. Australia 500+ connections ) is one of Australia s energy projects will position Australia, Singapore other! Report Save Follow. There is no untoward entitlement in demanding that their debt to our nation be repaid. I find it interesting to be called a climate denier when I accept climate change as being a natural non human caused event. Sun Cable is a private Australian solar energy infrastructure developer. Sun Cable claimed it could carry 3.2GW of electricity and supply up to 15 per cent of . 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. (Hint: insiders have been buying them). Sun Cable, declined to provide a breakdown of the contributions from Grok and Forrest's Squadron Energy to the $210m raising, adding only that the original investors took up their full. Bonne Fte Maman Texte Touchant, WARNING: Cancer and Reproductive Harm - www.P65Warnings.ca.gov, Copyrights 2020 | Calendar | All Rights Reserved by Canyon Business Solutions. Is it normal for a CEO to sell $1 million of their own company? 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. Countries all around the world are seeking ways of becoming less reliant on traditional energy sources, whether for altruistic reasons or for more self-interested factors. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey. Past performance is not necessarily indicative of future returns. James Mickleboro. Luke has also worked as a research and development engineer at Identitii, building blockchain-based smart contracts, compliance-related machine learning systems and energy trading tools. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. The solar panels should indeed be used to supply electricity to Adelaide. Further planned high impact drilling programs are also currently being advanced on licenses nearby Goshawk's licences with planned testing of a variety of play types by Buru Energy, Theia Energy, Rey and Black Mountain . Whats this got to do with Atlassian? Andrew Koscharsky, chief commercial officer of iSwitch, said the company was interested because Sun Cable could . Fraser previously worked with McKinsey & Company for almost 9 years as a leader in their sustainability practice (with particular expertise on carbon abatement and resource productivity) and with the World Bank before that. Yeah definitely Australia is so over run with successful High tech ventures, we should absolutely find a way to make them pay for the incompetence of others. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. David Griffin was noted as one of Australias top 100 Green Power Players by The Australian newspaper in 2022. He has worked on and lead major onshore and offshore/marine projects across SE Asia, Middle East, West Africa, Europe, North America and Australia and spent 13 years living in Nigeria, USA and Qatar. Whats CSIROs track record like for return on R&D dollars invested? It provides electricity purchasers with insurance against high prices. His past work has included developing the Master Plan on ASEAN Connectivity 2025 (which included understanding how to accelerate the implementation of the ASEAN Power Grid), developing Indonesias national circular economy strategy, and working with Temasek on understanding investment and business opportunities related to sustainable energy transition in Asia. An announcement is considered as "Price Sensitive" if it is thought that it may have an impact on the price of the security. Join our flagship membership service, Share Advisor. I will be keeping an eye on it. Sector. 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. It is believed Forrest had become dissatisfied with the rate of cash burn and the lack of milestone achievement occurring at Sun Cable. Yesterday, it entered voluntary administration. SUN: Show related codes: SUNCORP GROUP LIMITED Until all the Jane and Joe A. Verages riot int the streets en mass for change, it wont. The capacity of the Sun Cable solar farm in the NT has been dramatically increased. = the company released an announcement.!! For a limited time, The Motley Fool Australia is giving away an urgent new investment report outlining our 5 favourite stocks for investors over 50. The 200SMA and 50SMA, indicating that its bullish is provided and copyrighted Thomson! Andrew Koscharsky, chief commercial officer of iSwitch, said the company was interested because Sun Cable could provide stable long-term power prices, in contrast to relying on imported liquefied natural gas. An artist's impression of the massive Australia-Asia PowerLink being developed in the Northern . so potentially another doubling, because cloudy in NT, just pull from the grid. 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? Fujian Nanping Sun Cable Co. Ltd. Watch list Closed Last Updated: Jan 20, 2023 3:00 p.m. CST Delayed quote 8.13 0.14 1.75% Previous Close 7.99 Advanced Charting Volume: 5.56M 65 Day Avg:. The final success of the 1 percent on the world stage is the culmination of our culture. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. Click for restrictions. Money. 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? Caps Created with Sketch. The new US President Joe Biden has already re-joined the Paris Climate Agreement and has a long list of planned initiatives for propelling the renewable energy front in the US. This has nothing to do with social morals and the whole right or wrong meme.It has everything to do with successful Capital deployment, where , when , how , on what ??? Some massive gains in the ASX lithium space seem to be driving trading volumes on Wednesday. Of securities listed on the ASX existing industries, supporting large-scale economic development, whilst reducing greenhouse gas.. Copyright 2018 - 2023 Sun Cable Pty Ltd. It was HIGHER than usual because they over-estimated the usage after I moved back to the dead dingo rectum. Be used to supply electricity to Adelaide project will be far more important to whether current shareholders make money you! 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