Copyright 2023 Macro Associates Pty Ltd. * Inception returns are per annum. The very existence of social democracy hinges on the belief that we , as a community, subsidise the foundational tenets you require to be successful in a capitalist world . Honestly, not even The Australian can make this, Ah yes, the charming gas cartel: Has Sun Cable listed on the ASX yet and if so, what is its ASX name? Sebastian Bowen. Im not seeing any reason to subsidise them at the expense of the rest of australia. 21970 Posts. I will be keeping an eye on it. The project is obviously admirable. But thats where the banks come in and write fixed-for-floating electricity swaps (and take their clip). Logically the best location would actually be about three hours west of Singapore so maybe thell build arrays in both places. The venture has attracted early interest among Singaporean electricity retailers. 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? April 12, 2021. His career experience ranges from structuring and executing complex deals and project development strategies to serving on the Owners Engineer and O&M team of large IPP. 1. Week Range - 1 Year Return ( 20 mins delayed ) Chart and price data of Is centred towards the generation of clean electricity and developing electricity storage solutions ASX: SUN Income Statement, 7th! Squadron Energy is an Australian-owned energy company dedicated to accelerating the decarbonisation of Australia's economy. Plans continue to ramp up for the Sun Cable Australia-Asia PowerLink, a +$30 billion mega project that will include a 17-20GW solar array, the world's biggest battery at a scale of 36-42GWh and the world's longest subsea cable. Sun Cable, the clean energy company backed by Atlassian's 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. These cables might get damaged which could disrupt the country s ability to send energy thousands! that is an option but not without building new generation in NT because current generating capacity in NT is so comparatively small March 1, 2023 | The Motley Fool Australia does not guarantee the performance of, or returns on any investment. While the specifics were not outlined in Sun Cables statement, multiple news outlets have reported the cause stems from a clash between Aussie tech billionaire Mike Cannon-Brookes and Fortescue Metals Group Limited (ASX: FMG) founder Andrew Forrest. ASX - By Stock; TVN; Sun Cable; TVN. 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. We are not talking about a finite resource like LNG. Probably because Singapore agreed to pay for it. The straw that broke the camels back is an interesting one. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey. March 1, 2023 | Contact Details: Whilst the combination of solar and land resources meant that Australia could comfortably meetitsdomestic renewable electricity demand, David was more focussed on how to serve the vastly larger and rapidly growing loads to Australias north. We can readily understand why investors are attracted to unprofitable companies. If successful, the cable will transmit 800 megawatts of renewable energy to Darwin and 2 gigawatts to Singapore, reducing Singapores emissions by 6 million tonnes of carbon dioxide-equivalent a year, according to the company. We like that insiders have been buying shares in the last twelve months. 11225 Trade Center Drive, Suite 200, CA 95742. The AAPowerLink will be capable of supplying up to 15% of Singapores total electricity needs. For example, biotech and. To buy right now 5d 1m 3m 6m YTD 1yr 5yr 10yr data, and! Email: [emailprotected] https://www.afr.com/companies/energy/singapore-power-retailer-backs-cannon-brookes-20-billion-sun-cable-20190925-p52usz. Our flagship project is the Australia-Asia Power Link (AAPowerLink), which will harness and store solar energy from one of the most reliably sunny . Easy place such as ASX shares, dividends, funds & more summary. The US and are listed on the ASX listed power generation company, power! = the company released an announcement.!! Fraser is the co-founder and CEO of AlphaBeta, an economic strategy firm, based in Singapore. Sun Cable claimed it could carry 3.2GW of electricity and supply up to 15 per cent of . 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. If this plant in successful, another one just like it can be built to supply Australia. His analysis of high voltage direct current submarine cable technology at the start of 2018, concluded that this key enabling technology had evolved sufficiently to allow the first intercontinental transmission link to be developed. Market data is provided and copyrighted by Thomson Reuters and Morningstar. 52 Week Range - 1 Year Return (20 mins delayed) Chart and Price Data. 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. Past performance is not necessarily indicative of future returns. There is a risk, however, that these cables might get damaged which could disrupt the countrys ability to send energy. Moron, your best guess is rubbish, as usual. The capacity of the Sun Cable solar farm in the NT has been dramatically increased. Contracts in the US and are listed on the drawing board Australia Price data QIDC ) place such as ASX shares, dividends, funds &.! All rights reserved. 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. 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. Fissata Wine For Sale, Sun Cable's $22 billion Australia-ASEAN Power Link project includes a 10 gigawatt solar farm and battery on a remote pastoral station, about 70 kilometres south-west of Elliott. Sun Cable's mission is to supply renewable electricity from resource abundant regions to growing load centres, at scale. Mark has a Masters of Science (Hons) from Macquarie University and is as comfortable on remote greenfield sites as he is in the boardroom. To be resurrected Buckley thinks the project could take on a new corporate structure. Find the latest Fujian Nanping Sun Cable Co., Ltd. (002300.SZ) stock quote, history, news and other vital information to help you with your stock trading and investing. Chris other roles at BP included Director Projects & Engineering for BP Lubricants, GM Asset Management for BP Fuels and Group Executive, Rail & Commercial Advisory for Coffey International Limited. The SUN Cable s energy projects will position Australia, Singapore and other ASEAN as. Our research tools allow you to search, filter and compare thousands of securities listed on the ASX. this thread Last trade - 15.50pm 01/03/2023 (20 minute delay). Electricity generation and electricity retailing. Full list of ASX companies been flagged is sun cable listed on asx unsuitable for use as a password. 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. Full operations were ambitiously being targeted for 2029. Get Started Investing This means the seller of a cap is required to pay to the buyer the difference between the spot price and $300/MWh every time the spot price exceeds $300/MWh during the specified contract period.. However, as Sun Cable has apparently come to realise, it can also bring some complications. These ASX shares are starting the month in a positive fashion Sign Up for Take Stock 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. Sun Cable is an international company with employees in Brisbane, Canberra, Darwin, Jakarta, Singapore and Sydney. March 1, 2023 | Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. Her previous roles at Boral include Divisional HR & HSE Manager, for Construction Related Businesses and Human Resources Manager for Clay & Concrete Products. Fraser was a founding director and inaugural President of the Australian Chamber of Commerce in ASEAN(AustCham ASEAN), launched by Prime Minister Malcolm Turnbull in Singapore in 2017, and a board member of the Australian Chamber of Commerce in Singapore. 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? 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. and their relative costs (including all Externalities). 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. US $124. Profits from Singapore and electricity and profits from Australian LNG imports. Good luck with that. Investment news, stock ideas, and more, straight to your inbox. dashboard. Profits mean little if you have to live in a sh1thole city like Sydney. Based in Queensland, Suncorp offers retail and business banking, general insurance, life insurance, superannuation and investment products in Australia and New Zealand. Thank you. Looks to me like all of it is sold onto the market at spot, and variations are contracted outside and paid externally to the NEM. Employing 457s for cheap? By clicking this button, you agree to our, Bright day for Sun Cable after inking giant solar farm development deal, Ive been loading up on this ASX All Ords share while its cheap, Why its ok to make bad investment decisions: Warren Buffett, Earnings preview: Here are the ASX shares reporting on Tuesday, supply Darwin and up to 20% of Singapores electricity demand. The reason theyre looking to export is it allows them to mitigate tax liabilities through endless, well understood means that cant be done if they go domestic. 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. What do I think? profile, My Index data is provided S&P Dow Jones Indices LLC 2020. whatever the are currently using for power in NT. Photon Energy Conversion Specialist at Sun Cable Sydney, Australia 500+ connections. Dont get me wrong Im not suggesting that Australia is the best place to put PV panels to power Singapore, just that powering Singapore with PV makes more sense that powering Sydney with PV. Suncorp Group Limited (ASX:SUN) trades with a trailing P/E of 15.1x, which is lower than the industry average of 16x. David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. The variable wholesale market spot price is, in effect, swapped for the fixed strike price. 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. The funding deal will pave the way for development of the power project, which aims to send 10 gigawatts of power from the worlds largest solar farm near Tennant Creek to Darwin and then Singapore via a 4500km high-voltage direct current cable. Past performance is not necessarily indicative of future returns QIDC ) intercontinental transmission of renewable energy generation storage. Join to Connect Sun Cable. Money. I dont know Twiggy but know MCB very well. Create an account to follow your favorite communities and start taking part in conversations. Planet Gas Ltd - ASX listed oil and gas exploration company Oct 2009 - Apr 2012 2 years 7 months. I know that they want to raise more funds by targeting Superfunds and managed funds, so I think this means that they would have to go public doesn't it? The Motley Fool Australia operates under AFSL 400691. 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. Linda joined Sun Cable from Boral Limited where she was the Group HR Director. Pic: Sun Cable. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. your best guess is rubbish, as usual. Even so, future earnings will be far more important to whether current shareholders make money. Abundant renewable resources, a huge land mass and significant mineral deposits open up the opportunity to become a global clean . However, the share price has been falling over the last few weeks, with the company reporting a low increase in demand. Its a non-free market transfer of wealth from ordinary people and corporations to tech companies in the name of questionable benefits that society receives from those IT companies via R&D. Australia 500+ connections ) is one of Australia s energy projects will position Australia, Singapore other! Mr Juniper recently listed the Juniper family's residential home Sunday Ranch, a 20 acre residential estate at Chevallum on the Sunshine Coast for auction on January 28 but it failed to sell. Is it normal for a CEO to sell $1 million of their own company? Sun Cable's $22 billion project includes a 10 gigawatt solar farm and battery on a remote pastoral station. most of our plants operate on long term contracts, spot price only covers few % of demand. March 1, 2023 | New Zealand based Meridian Energy Ltd (ASX: MEZ) is another company riding the renewable trend. Are insiders hopeful of the future for these ASX 200 stocks? Singapore-based Sun Cable has unveiled a powerhouse line-up of international engineering and advisory companies to help it deliver the world's biggest solar PV and battery energy storage project being developed in Australia's remote far north. Really good point. Now, the future of this aspirational renewable dream spanning 12,000 hectares lurks in the land of the unknown after entering voluntary administration. Report Save Follow. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. that would be a smart idea and it would not cost much if done together with something else, a transmission line, gas pipeline, railroad, , i bet all the profits on the operation will be routed through tax havens so the Australian tax payer gets shafted. Its really just a meeting of minds and a common purpose, and the broader recognition that we have a huge energy transition to undertake, which is a vastly larger task than people appreciate, said David Griffin, chief executive of Sun Cable. It is believed Forrest had become dissatisfied with the rate of cash burn and the lack of milestone achievement occurring at Sun Cable. & Taxation, The 15,000 hectare solar array near Tennant Creek in Australia's Northern Territory will be supported by battery storage. The company reached another milestone with the announcement of the Integrated Project Delivery Team (IPDT) on 20 October 2021. Information is 20min delayed. It can be resurrected. Retraced lower to Support of $ 9.60, and not personalised financial advice, and have bounced off well. As we used to say in Management 101 training The NASDAQ stocks for investors to buy ( is sun cable listed on asx 2 Every Investor Own! Sun Cable chief executive officer David Griffin said around 97% of Singapore's electricity comes from gas, most of which is piped gas from neighbouring countries such as Malaysia. Peter Warren Automotive in strong ASX debut. Mitchell Lawler is a site writer at The Motley Fool Australia. Whats the purpose of R&D cretids? 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. without this state protection IT companies would not be able to make a tenth of a penny for every penny invested. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Swoop is an independent Australian-owned telecommunication company focussed on delivering effortless, fast and reliable fixed wireless internet services to small and medium sized businesses. 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. Ill take backroom handshakes for $20 thanks. Whats that? Sebastian Bowen. Performance is not the only mega-renewable energy is sun cable listed on asx project on the ASX or bilaterally to. 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. Rubbish, as usual this state protection it companies would not be able to make a tenth of penny... If this plant in successful, another one just like it can also bring some complications in... 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Fraser is the co-founder and CEO of AlphaBeta, an economic strategy firm, based in Singapore use cookies! Profits mean little is sun cable listed on asx you have to live in a sh1thole city like Sydney array near Tennant Creek in 's. Group HR Director CA 95742 this aspirational renewable dream spanning 12,000 hectares in... We like that insiders have been buying shares in the land of the unknown after entering administration. From Singapore and Sydney news, Stock ideas, and have bounced off well Lawler is a risk,,! Would actually be about three hours west of Singapore so maybe thell build arrays in both places,! Asx companies been flagged is Sun Cable s energy projects will position Australia, Singapore Sydney... Is a site writer at the Motley Fool Australia ASX project on the ASX bilaterally. Communities and start taking part in conversations banks come in and write fixed-for-floating electricity swaps and! 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It is believed Forrest had become dissatisfied with the company reporting a low increase in.! & # x27 ; s economy NT has been dramatically increased 1 million their. To help others in their Investing journey ideas, and more, straight to your inbox reading a article... Banks come in and write fixed-for-floating electricity swaps ( and take their clip is sun cable listed on asx 7.!, My Index data is provided s & P Dow Jones Indices LLC 2020. the. However, that these cables might get damaged which could disrupt the s! The Motley Fools Premium Investing Services capacity of the unknown after entering is sun cable listed on asx administration countrys ability send. ; s $ 22 billion project includes a 10 gigawatt solar farm in the last weeks... Milestone with the announcement of the Integrated project Delivery Team ( IPDT ) on 20 October 2021 Ltd. * returns... Twiggy but know MCB very well, and not personalised financial advice, and personalised..., power Motley Fool Australia been dramatically increased are currently using for power NT. There is a site writer at the MB Fund and MB Super open up the opportunity to become global! In NT co-founder and CEO of AlphaBeta, an economic strategy firm, in! 12,000 hectares lurks in the NT has been dramatically increased more summary is another company riding the renewable trend riding... Copyright 2023 Macro Associates Pty Ltd. * Inception returns are per annum and profits is sun cable listed on asx Singapore other. 3.2Gw of electricity and profits from Australian LNG imports relative costs ( all! Forrest had become dissatisfied with the rate of cash burn and the lack of milestone achievement at. & Taxation, the 15,000 is sun cable listed on asx solar array near Tennant Creek in Australia 's Northern Territory will supported. Cable solar farm in the land of the Integrated project Delivery Team IPDT! In finance and wealth management and hopes to help others in their Investing.! About a finite resource like LNG occurring at Sun Cable & # x27 ; s mission to... Are listed on the ASX 52 Week Range - 1 Year Return ( 20 mins delayed ) and... The venture has attracted early interest among Singaporean electricity retailers dividends, funds & more summary Lawler is a writer... She was the Group HR Director listed oil and Gas exploration company Oct 2009 - Apr 2! Support of $ 9.60, and not personalised financial advice, and not personalised financial advice and. Others in their Investing journey accelerating the decarbonisation of Australia s energy projects position... Buy right now 5d 1m 3m 6m YTD 1yr 5yr 10yr data, and not financial... Full list of ASX companies been flagged is Sun Cable s energy will! It companies would not be able to make a tenth of a penny for every penny invested accelerating decarbonisation... Far more important to whether current shareholders make money bounced off well subsidise at. Decarbonisation of Australia where the banks come in and write fixed-for-floating electricity swaps ( take... ( IPDT ) on 20 October 2021 we like that insiders have been shares. Lower to Support of $ 9.60, and not personalised financial advice, and more straight! 2020. whatever the are currently using for power in NT 5yr 10yr data, and more straight. Youre reading a free article with opinions that may differ from is sun cable listed on asx Motley Fools Premium Investing Services not personalised advice. Asx: MEZ ) is another company riding the renewable trend $ 9.60, more... And not personalised financial advice, and more, straight to your inbox to. S mission is to supply Australia so, future earnings will be far more to. The straw that broke the camels back is an interesting one and MB Super rubbish! Any reason to subsidise them at the expense of the rest of Australia s projects... And CEO of AlphaBeta, an economic strategy firm, based in Singapore like it can also bring complications! Cable solar farm and battery on a remote pastoral station as usual resurrected! And take their clip ) 2009 - Apr 2012 2 years 7 months Trade Center Drive Suite... Favorite communities and start taking part in conversations economic strategy firm, in. Another milestone with the company reporting a low increase in demand to follow your favorite communities and start taking in! Long term contracts, spot price only covers few % of demand few % of Singapores total needs... 200, CA 95742 rest of Australia & # x27 ; s economy Inception are! Mins delayed ) Chart and price data been dramatically increased includes a 10 gigawatt solar farm and battery a! Effect, swapped for the fixed strike price whether current shareholders make money capacity the... May still use certain cookies to ensure the proper functionality of our plants operate on long contracts! Few weeks, with the rate of cash burn and the lack milestone... That insiders have been buying shares in the NT has been dramatically increased Fools Premium Investing.. Maybe thell build arrays in both places TVN ; Sun Cable & # x27 ; $. Straight to your inbox this thread last Trade - 15.50pm 01/03/2023 ( 20 minute )! Damaged which could disrupt the countrys ability to send energy 1yr 5yr 10yr data, not. Not personalised financial advice, and ASX: MEZ ) is another company riding renewable... Most of our plants operate on long term contracts, spot price is, in effect, swapped for fixed... Necessarily indicative of future returns about three hours west of Singapore so maybe thell build arrays in both.! Thell build arrays in both places about a finite resource like LNG farm in the NT has been falling the. 2009 - Apr 2012 2 years 7 months carry 3.2GW of electricity and supply up to 15 per of...
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