SunCable sale to Cannon-Brookes' Grok and Quinbrook finalised

The news: The sale of SunCable to Mike Cannon-Brookes' Grok Ventures and Quinbrook Infrastructure Partners has been finalised, with the tech billionaire looking to build the world's largest solar array in the Northern Territory and an undersea cable connecting it to Singapore.

The numbers: SunCable's AAPowerLink aims to deliver 900 megawatts of green energy to Darwin and 1.75 gigawatts to Singapore by 2035, pending approval from Singapore's energy market authority. A further 3 gigawatts is planned for Darwin customers in future stages.

The context: Grok Ventures and Quinbrook Infrastructure picked up SunCable in May after the company — previously backed by Cannon-Brookes and Andrew Forrest until the pair fell out over the Singapore link — fell into administration. Quinbrook, which has publicly shown little interest in the subsea cable, will oversee the onshore component of the project.

What they said: “SunCable's AAPowerLink project has all the component parts to make the next great Australian infrastructure initiative possible," Cannon-Brookes said in a statement. "It’s set to deliver huge volumes of green energy to Darwin – powering a burgeoning green industry opportunity in the NT."