PwC to advise on 10GW solar project 

01 July 2019 - 12:00 am UTC

PwC will provide financial, commercial, tax, legal, grants and modelling support for Sun Cable’s 10GW, AUD 20bn (USD 14bn) Tennant Creek solar and battery project in the Barkly region of the Northern Territory, according to a PwC official.

 

Singapore-based developer, Sun Cable revealed its plans for the huge project on 21 June when local media reported it and Grok Ventures met with NT Chief Minister, Michael Gunner. A 20 June Bloomberg report quoted a Grok Ventures employee saying it was working with partners on a large solar project in NT.

 

These reports followed a study released on 19 June by Beyond Zero Emissions outlining a proposal for the project.

 

Sun Cable aims to submit plans for development approval next year; reach financial close on the project in 2023 and commission it in 2027.

 

The plan is for the Tennant Creek project to transmit power to Darwin and up to 3GW onto Singapore via an undersea cable.

 

Theoretically, the project could provide 20% of Singapore’s power needs, according to Sun Cable’s website.

 

Sun Cable will work with Sydney-based pre-fabricated solar array manufacturer, 5B.

 

David Griffin, a former general manager of Infigen Energy, is managing director of Sun Cable. He is also director and chairman of Terrain Solar, another developer which has a close relationship with PwC. Griffin has not responded to a request for comment.

 

The consulting firm has acted as Terrain Solar’s advisor and development partner for its 275MW portfolio and has advised on Terrain Solar’s sale of the 64MW Warwick solar project in southeast Queensland to the University of Queensland and the sale of the 30MW Molong solar project in New South Wales to Sydney-based boutique and advisory firm TEC-C Investments.

 

In February, TEC-C started looking to sell Molong, as first reported by Inframation sister publication, SparkSpread on 7 February.​​​​​​

 

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