EconomyLens.com
No Result
View All Result
Tuesday, June 17, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Australia approves world’s ‘largest’ solar hub

David Peterson by David Peterson
August 20, 2024
in Economy
Reading Time: 5 mins read
A A
0
37
SHARES
461
VIEWS
Share on FacebookShare on Twitter

Australia is moving forward with plans for a massive solar project, with energy production expected to begin in 2030. ©AFP

Sydney (AFP) – Australia on Wednesday approved plans for a massive solar and battery farm that would export energy to Singapore, a project dubbed the “largest solar precinct in the world.” Authorities announced environmental approvals for the US$24 billion SunCable project in Australia’s remote north that is slated to power three million homes. The project, which will include an array of panels, batteries and, eventually, a cable linking Australia with Singapore, is backed by tech billionaire and green activist Mike Cannon-Brookes.

Related

EU chief says pressure off for lower Russia oil price cap

Spain says ‘overvoltage’ caused huge April blackout

Trump says EU not offering ‘fair deal’ on trade

UK automakers cheer US trade deal, as steel tariffs left in limbo

Global oil demand to dip in 2030, first drop since Covid: IEA

“It will be the largest solar precinct in the world –- and heralds Australia as the world leader in green energy,” said Environment Minister Tanya Plibersek. It is hoped that energy production will begin in 2030. The 12,000-hectare (29,650 acre) project will provide four gigawatts of energy per hour for domestic use. Two more gigawatts sent to Singapore via undersea cable will supply about 15 percent of the city-state’s needs. Batteries would be able to store about 40 gigawatts.

SunCable Australia’s managing director Cameron Garnsworthy said the approval was “a landmark moment in the project’s journey.” Despite Wednesday’s green light, numerous approval processes remain — including working with Singapore’s energy market authority, Indonesia’s government and Australian Indigenous communities. “SunCable will now focus its efforts on the next stage of planning to advance the project towards a final investment decision targeted by 2027,” said Cannon-Brookes.

– ‘Clean energy powerhouse’ –

Australia is currently one of the world’s leading exporters of coal and gas, but has also been ravaged by the effects of climate change — from intense heat to floods and bushfires. Although Australians are among the world’s most enthusiastic adopters of household solar panels, a string of governments have been slow to fully embrace renewables. In 2022, renewables made up 32 percent of Australia’s total electricity generation — compared to coal, which contributed 47 percent, according to the latest government data.

Climate Council chief executive officer Amanda McKenzie said the new solar hub was a bold step in making Australia a “clean energy powerhouse” and that such projects were essential in “delivering affordable energy and slashing climate pollution.”

“With the closure of coal-fired power stations on the horizon, Australia needs to accelerate the roll-out of solar and storage at every level—rooftops, large-scale projects, and everything in between,” she said. The project would also be a significant step for Cannon-Brookes, who has expanded his portfolio from software company Atlassian — which he co-founded — to the renewable energy space, including being the latest shareholder in AGL Energy.

© 2024 AFP

Tags: clean energyclimate changerenewable energy
Share15Tweet9Share3Pin3Send
Previous Post

Asia tracks Wall St lower as traders pause Fed-fuelled rally

Next Post

Australia greenlights world’s ‘largest’ solar hub

David Peterson

David Peterson

Related Posts

Economy

US retail sales slip more than expected after rush to beat tariffs

June 17, 2025
Economy

Why stablecoins are gaining popularity

June 17, 2025
Economy

Bank of Japan holds rates, will slow bond purchase taper

June 17, 2025
Economy

Ecuador pipeline burst stops flow of crude

June 16, 2025
Economy

Yen slides ahead of Bank of Japan policy decision

June 16, 2025
Economy

War, trade and Air India crash cast cloud over Paris Air Show

June 16, 2025
Next Post

Australia greenlights world's 'largest' solar hub

Stocks mixed as traders pause Fed-fuelled rally

Rise in UK borrowing narrows budget options for new govt

US, European stocks bounce as traders await Fed speech

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Spain says ‘overvoltage’ caused huge April blackout

June 17, 2025

Swiss insurers estimate glacier damage at $393 mn

June 17, 2025

Brazil sells rights to oil blocks near Amazon river mouth

June 17, 2025

Trump says EU not offering ‘fair deal’ on trade

June 17, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.