Cannon-Brookes’ SunCable energises Tasmanian economy with new manufacturing facility

Tasmania has secured a pivotal role in the future of renewable energy infrastructure, with SunCable — backed by Atlassian co-founder Mike Cannon-Brookes — choosing Bell Bay as the home of its manufacturing facility. The move is set to provide a significant boost to the local economy through substantial investments and job creation.

Founded in 2018, SunCable aims to build a 4,300km deep sea link between Singapore — the location of the largest solar battery project in the world — and its own solar site in the Northern Territory.

According to the company, this move will help bolster Australia’s renewable energy supply chain.

Following a comprehensive two-year search spanning Southeast Asia and Australia, Tasmania emerged as the site of choice for SunCable’s production hub, slated for potential construction commencement in 2025, with cable production kicking off by 2029.

Tasmania reportedly beat out 30 global contenders for the top spot, with the facility pegged to bring in $2 billion in capital investment and pump $350 million annually into the local economy. It’s expected this will result in approximately 800 construction jobs and 400 operational roles.

The Tasmanian government has embraced what is set to become a foundational project for the Tamar region’s economy.

“This is an extraordinary opportunity for the northern region and confirms that Tasmania has what the world wants,” Tasmanian Premier, Jeremy Rockliff, said.

“This project would provide exciting careers for Tasmanian generations to come… it is a huge vote of confidence in the Tasmanian economy, and our Government welcomes the role the private sector plays in Tasmania.”

The proposed facility will also feature storage, testing, and custom port facilities, including a manufacturing tower reaching 180-200 meters. This will dwarf the state’s current record-holder, the Wrest Point Tower, by over 100 meters.

“It is a tall tower, that’s something that will have to be worked through and ultimately shared with the community in a very transparent way,” Deputy Premier, Michael Ferguson, said.

SubCable representatives will begin community consultation next week ahead of regulatory approvals.

The sun sets on the SunCable drama

Valued at $30 billion, SunCable has been hailed as “the world’s largest solar energy infrastructure network”.

But the company has been notably shaped by a corporate face-off between two of Australia’s most affluent figures -– Cannon-Brookes and mining magnate Andrew “Twiggy” Forrest, who initially stood together on the project.

However, a rift stemming from divergent visions for the energy’s end-use between Cannon-Brookes and Forrest led to a bidding contest after the company was plunged into voluntary administration.

The resolution saw Cannon-Brookes’ consortium, underpinned by Grok Ventures and Quinbrook Infrastructure Partners, emerge as the new proprietors.

Forrest’s Squadron Energy ultimately opted not to submit a concluding bid, redirecting its focus to other renewable initiatives. Despite this shift, Forrest expressed support for the green energy sector and conveyed his best wishes for the project’s continuation under new leadership.