Dr Forrest, Australia’s 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.

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Sun Cable’s Australia-Asia PowerLink project includes a 12,000-hectare solar precinct with 17-20 gigawatts of solar generation and 36-42 gigawatts of energy storage near Elliot in the Northern Territory.

If successful, the cable will transmit 800 megawatts of renewable energy to Darwin and 3 gigawatts to Singapore, reducing Singapore’s emissions by 6 million tonnes of carbon dioxide-equivalent a year, according to the company.

Sun Cable expects the venture will produce as much as $2 billion a year in exports, create more than 1500 jobs in construction, 350 operational jobs, and 12,000 indirect jobs.

“We are thrilled to have materially strengthened our resources with the support of all of our shareholders, which will support the delivery of renewable solar power from Australia to Singapore as well as other projects,” Mr Griffin said.

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