Australian energy start-up Sun Cable has hired investment banks Macquarie and Moelis to raise more than A$30bn (US$20.6bn) over the next 18 months to fund a giant solar farm and the world’s longest undersea power cable.
It will be the first time an Australian renewables development worth tens of billions of dollars goes to capital markets for full project funding.
The project is expected to test investor faith in the idea that Australia, a leading fossil fuel exporter, can also be a significant clean energy exporter.
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