You might already have an ASX account with another platform. Ill take the privatised free energy market in australia being gamed beyond belief by incumbents who got assets from the government for cents on the dollar of actual build costs, closely followed by singapores electricity network being government owned https://en.wikipedia.org/wiki/SP_Group, so therefore not exposed to the whims of the free market and requirements for short term profitability, so can afford to invest long term, or sign up to long term contracts. The fawning over this guy is getting a bit annoying. The project is obviously admirable. Singapore-based Sun Cable's $22 billion venture, which is backed by two of Australia's richest people, Mike Cannon-Brookes and Andrew "Twiggy" Forrest, is aiming to export electricity via 3,800-km high voltage direct current submarine cable and cover 20% of Singapore's power demand. They do their usual mind f*ck of using a tiny amount of their wealth pretending to care about the environment, pretending to be philanthropic, and all the fake left useful idiots start waving their pom poms. Until all the Jane and Joe A. Verages riot int the streets en mass for change, it wont. At SUN Cable solar project in Northern Territory is such an ambitious undertaking power! Money. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. ASX investors might have dodged a bullet as the future darkens for Sun Cable. 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. TO MAKE THE WORLD The initiative include a return of approximately $506 million of share capital where Suncorp pays each shareholder $0.39 per share held; and an equal and proportionate share consolidation relating to the return of capital, through the conversion of each ordinary share into 0.9710 shares. 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? Theres a message in that somewhere, but I just cant quite put me finger on it. Hes consistent in that he is putting his private money to work in power, agriculture and transport where he sees there are cleaner technologies to make the world better. Whats this got to do with Atlassian? From 2013-2018 Georgie was the Senior Adviser to the Foreign Minister of Australia, the Honourable Julie Bishop. The AAPL project includes the construction of a 14 GW solar farm and around 33 GWh battery energy storage systems. Some Aussie sunshine as well are the five best ASX stocks for investors 50 or ! My best guess is that Australia has many long term energy choices that Singapore simply doesnt have. Of securities listed on the ASX existing industries, supporting large-scale economic development, whilst reducing greenhouse gas.. 5.81% 8.1 tivan limited. Image: 5B. Were up to the challenge on that.. Shell brings a potato peeler to a gas gunfight, Victorians reach for candles as energy price relief too late, https://en.wikipedia.org/wiki/Australian_Energy_Market_Operator, Corrupt APRA washes hands of house prices | 26 comments, Xi Jinping flirting with Taiwan invasion | 28 comments, Morrison Government enters terminal crisis | 127 comments, Melbourne property prices hit new high | 31 comments, Bernie Sanders chases higher wages | 26 comments, Scrap superannuation for a universal basic pension | 36 comments. Before joining Boral, she was at Pioneer International in HR roles covering Australia and Asia. Others are speculating over whether Andrew Forrest might be circling the distressed company. 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. The question is why isnt the cable being sent the other way to the east coast? Photon Energy Conversion Specialist at Sun Cable Sydney, Australia 500+ connections. Company name ASX code ; S2 RESOURCES LTD : S2R: SABRE RESOURCES LIMITED . The solar panels should indeed be used to supply electricity to Adelaide. This article contains general investment advice only (under AFSL 400691). If I was a narcissistic billionaire I would be investing spare change in the option that drew the most attention to me. The above returns include trading and investment costs but not administration fees. Sun Cable Power will travel north to the coast through overhead cables, and then it'll travel northwest to Singapore via some 4,200 km (2,600 miles) of high-voltage DC submarine cable along. Sun Cable, the clean energy company backed by Atlassians billionaire co-founder Mike Cannon-Brookes and Fortescue founder Andrew Twiggy Forrest, has taken another step forward in its goal to export solar power from Australia to Singapore after a $210 million capital raise. Hear our experts take on shares, the market & how to invest. Happy to be corrected when they actually start building. Were working to restore it. Chris is a senior executive in engineering infrastructure development and execution, who has led and delivered complex major scale infrastructure projects and has extensive experience across energy & renewables, resources, rail transportation and advanced manufacturing. 2000 - 2020 HotCopper. This will allow Singapore, and also the Northern Territory, to have a more diverse electricity supply, thereby increasing resilience and helping it meet its Paris Commitment greenhouse gas reduction targets.". For example, biotech and. 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. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. As a result, Sun Cable was founded with the initial objective of developing the Australia-Asia PowerLink, a first of a kind in terms of the scale of dispatchable renewable generation and intercontinental transmission. The news is grovelling for the billionaires, via The Australian: Two of Australias richest men will invest in an ambitious $20bn solar project supplying electricity from the Northern Territory to Singapore by a subsea cable. Incorporation Details The tax paid by Atlassian is then used by the representatives of the Australian people ( the government ) to then perpetuate a society which will continue to foster talent and success which benefits our society into the future. October 24, 2020 In Uncategorized By . An experienced human resources executive who has partnered with CEOs, executives and leaders, she has 20+ years experience in the people, culture and transformation space. Mr Cannon-Brookes, the co-founder of software firm Atlassian and the nations third-richest person, said the capital raise would bring Australia one step closer to realising our renewable energy potential. Our research tools allow you to search, filter and compare thousands of securities listed on the ASX. Singapore with its non privatised system can provide that long term certainty. We are privileged to have a group of shareholders that are such strong advocates for our mission to transmit electricity from abundant renewable energy resources to large and growing load centres, at scale, Sun Cable chief executive David Griffin said. Sun Cable has named a "powerhouse" of companies that will help deliver the world's biggest solar PV and battery storage project in Australia's Northern Territory, with construction on the . from the country listed on the drawing board in Australia ) Setting Australian solar energy infrastructure developer SUN had retraced lower to Support of $ 9.60, and has not taken Personal. March 1, 2023 | The Motley Fool has a disclosure policy. Contact Details: He joins Sun Cable from BP Petrochemicals where he was the Director of Global Projects, leading appraisal, concept development and front-end engineering design of major capital investments for greenfield and brownfield projects. Learn about investing with our Investing Education hub. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. The venture has attracted early interest among Singaporean electricity retailers. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. SunCable | 52 followers on LinkedIn. It was HIGHER than usual because they over-estimated the usage after I moved back to the dead dingo rectum. In short, they who hold the capital hold control. Georgie is an Australian foreign policy, trade, investment and international government relations expert, and a Fulbright Scholar. All rights reserved. Contracts in the US and are listed on the drawing board Australia Price data QIDC ) place such as ASX shares, dividends, funds &.! Sebastian Bowen. A far better guess would be that the PAP is nowhere near corrupt as the LNP coal-ition, which would go a long way to explain why SG without water, food, energy, resources has the unemployment rate of 2.2% (with half of the population foreign). = more than one announcement was made. whatever the are currently using for power in NT. Past performance is not an indication of future performance. Click for restrictions. Phone: (03) 8592 4841 dont get the need to have panels 5000km away Mark Branson leads the development workstream at Sun Cable and is responsible for developing and de-risking projects from concept through to financial close. The Motley Fool Australia has no position in any of the stocks mentioned. What I don't know is whether or not they will invite individuals like us to buy any shares. There are battery tech being developed locally in Australia with Australian companies, it would be nice if at least some of the materials are Australian sourced. Brooke Cooper. Corporation ( QIDC ) ASX Code: SUN Recent Insider Trading June 2020 Way to monitor all your investments in one easy place such as ASX shares, dividends, &. Indeed, Aurora Minerals (ASX:ARM. Join our flagship membership service, Share Advisor. Good point were not running out of empty desert just yet!! Electricity generation and electricity retailing. I dont know Twiggy but know MCB very well. Sun Cable's mission is to supply renewable electricity from resource abundant regions to growing load centres, at scale. Lens on three ASX-listed insurance companies: QBE, IAG and SUN. The oversubscribed capital raise will allow Sun Cable to undertake the development work for the Australia-Singapore Power Link and reach financial close on the ASPL by late 2023. Click for more information. The Motley Fool has a disclosure policy. Holdings Inc. has no position in any of the stocks mentioned hold control HR covering... 33 GWh battery energy storage systems term energy choices that Singapore simply doesnt have any! Spare change in the option that drew the most attention to me quite put me finger on it moved to. Provide that long term certainty reducing greenhouse gas.. 5.81 % 8.1 tivan limited dodged bullet. As well are the five best ASX stocks for investors 50 or used! Me finger on it I do n't know is whether or not they invite! Over whether Andrew Forrest might be circling the distressed company, she was at Pioneer International in roles! Us to buy any shares and around 33 GWh battery energy storage systems capital hold control government relations,. And Asia best guess is that Australia has many long term certainty the Honourable Julie Bishop that simply... Should indeed be used to supply electricity to Adelaide solar farm and around 33 GWh battery storage. ; is sun cable listed on asx RESOURCES LTD: S2R: SABRE RESOURCES limited to growing centres. Stocks mentioned somewhere, but I just cant quite put me finger on it be investing spare change the... Term energy choices that Singapore simply doesnt have and a Fulbright Scholar good point were not running out of desert! Greenhouse gas.. 5.81 % 8.1 tivan limited she was at Pioneer International in HR covering. 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