Sun Cable secures additional capital for the AAPowerLinK

Sun Cable Private Limited has secured additional capital worth USD 152.3 million to finance its Australia-Asia PowerLink (AAPowerLink) subsea cable system between Singapore and Australia.

The new capital has been raised from a Series B round led by Grok Ventures and Squadron Energy.The cable system will allow import of electricity into Singapore from a 17-20 GWp solar park in Australia. The complex will have also 36 GWh to 42 GWh of energy storage capacity. The complex is scheduled to commence operations in 2028.Energy exports under the project is expected to cover up to 15 per cent of Singapore’s electricity demand.