Sun Cable has signed a non-binding letter of intent to supply renewable energy to a minerals processing facility that ASX-listed resources company Tivan plans to develop near Darwin. Sun Cable is the developer of one of the largest solar, battery, and transmission projects globally in Australia’s Northern Territory.
Tivan aims to use the Middle Arm Sustainable Development Precinct in Darwin to process magnetite concentrate produced at its two vanadium, titanium, and iron ore projects, one in Western Australia and the other at Mount Peake in Central Australia.
The non-binding deal with Sun Cable envisages a potential offtake of 200-300 MW of renewable electricity from the Australia-Asia PowerLink project (pictured) to power the Tivan Processing Facility. It marks an important milestone for both companies and the Northern Territory because providing renewable electricity can serve as a foundation for industrial activity, facilitating a fresh era of eco-friendly advancement.
The deal comes even as a sales process for Sun Cable has been initiated by administrators after its billionaire backers, Andrew Forrest and Mike Cannon-Brookes, disagreed over the company’s business strategy.
Sun Cable’s Australia-Asia PowerLink project is its main undertaking, and proposes installing 20GW of solar, up to 42GWh battery storage, and constructing an 800km transmission line to Darwin, along with a 4,200km sub-sea cable to export power to Singapore.
Several parties have expressed interest in buying the company, including Forrest and Cannon-Brookes.
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