When Fraser Thompson and his business partners asked software mogul Mike Cannon-Brookes for money to build Australia’s biggest solar farm and the world’s longest underwater power line to link it to Singapore, Cannon-Brookes, understandably, said their idea sounded absurd.
Thompson, a Rhodes scholar who formerly worked at McKinsey & Co before establishing a government advisory business in Singapore, points to his research with Singaporean sovereign wealth fund Temasek. It identified a staggering $6.6 trillion of economic opportunities by 2030 from transitioning to a low-carbon green economy in the Asia-Pacific region alone.“But when I looked at it, only one-third was getting the focus,” he says.
The sun above Australia, on the other hand, is world-class, providing 58 million petajoules of solar radiation a year – enough to supply 10,000 times our total consumption.
Thompson, who has since left Sun Cable, described the collapse into administration in 2023 as a “gut-wrenching” experience – “not just for us, but for the team, the stakeholders, and the relationships built up in Australia, Indonesia and Singapore,” he says.Rather than being deterred by the high hurdles that can come with “big bet” projects, however, Thompson has decided to double down.
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