SunCable CEO hails new Australia-Singapore electricity trade framework
The promise of electricity trading between the two nations is an important milestone for SunCable's ambitious undersea cable project.
An electricity trading pact between the Australian and Singaporean governments has provided a confidence boost for Mike Cannon-Brookes’ $40 billion SunCable project, according to its CEO.
The Cross Border Electricity Trading (CBET) framework, signed by Prime Ministers Anthony Albanese and Lawrence Wong as part of the broader Comprehensive Strategic Partnership, establishes the systems and regulations needed for the two countries to trade electricity once SunCable begins operating in the 2030s.
Ryan Willemsen-Bell described the framework as “an instrumental government-to-government agreement that secures an international market opportunity for Australia’s world-class renewable resources,” in an interview with Capital Brief following the announcement.
“It will support SunCable’s future exports of renewable electricity to Singapore.”
Once established, the CBET will provide a regulatory framework allowing SunCable to trade electricity with Singaporean users via forward contracts or power purchase agreements, according to a 10-point plan published under the Green Economy Agreement between the two countries.
