The Territory Labor Government has passed legislation this week to facilitate the $30 billion Sun Cable Australia-Asia PowerLink project.
The project has a life span of more than 70 years, and will create over 1750 jobs during construction, and 350 during operations.
In the Territory, Sun Cable will build the world's largest and most technologically advanced renewable energy transmission system. It includes the world's largest solar farm and battery in the Barkly region, plus a converter site and transition facilities at Murrumujuk, near Gunn Point.
The AAPowerLink will transform the Territory into a green industrial hub and establish a new energy export industry for Australia. This will have positive flow on benefits for Territory businesses.
The Solar Project (Australia-Asia Power Link) (Special Provisions) Bill 2022 will provide certainty that key commitments in the Territory's Project Development Agreement with Sun Cable will be met. The legislation will clarify and streamline existing processes, increase project certainty, and support Sun Cable to secure project financing.
While the legislation provides for the grant, or consent to the grant of tenure, it does not remove the need for Sun Cable to reach agreement with other interested parties.
The Territory Labor Government recognised the importance of this project in 2019 when awarded it Major Project Status. The passage of this legislation today affirms the Government's commitment to the Project.
The NT Government and Sun Cable have also signed a Project Development Agreement to facilitate the project.
Quotes from Chief Minister Natasha Fyles:
"Sun Cable's $30+ billion project will position the Territory as a renewable energy powerhouse. The Territory is the best place to do business in Australia, and this new legislation proves that.
"Sun Cable's AAPowerLink will invest $8 billion in Australia - with the majority invested here in the Territory. That means more local jobs, more opportunities for local businesses, and a strong and diversified economy."
Quotes from Minister for Territory Development Eva Lawler:
"The Australia-Asia PowerLink will be built here in the Territory. It will be a major economic driver, and it will put the Territory on the international map when it comes to renewables.
"The legislation provides certainty for the project, and facilitates its implementation which will create over 1,750 jobs during construction and 350 ongoing positions as part of operations.
"The Australia-Asia PowerLink will transform the Territory into a renewable energy powerhouse and establish a new energy export industry for Australia, with positive flow on benefits for businesses."
