Billionaire Mike Cannon-Brookes' SunCable was granted conditional approval on Tuesday by Singapore's Energy Market Authority to import electricity via the Australia-Asia PowerLink.
The link already has approval from Environment Minister Tanya Plibersek for an underwater cable to the end of Australian waters, and an 800km transmission line to Darwin from a proposed 12,000-hectare solar farm near Tennant Creek.
SunCable interim CEO Mitesh Patel said Australia could play a key role in meeting surging demand for clean energy by building "landmark projects" to connect high-yield renewable energy generation in the Northern Territory to major cities in Asia.
Despite former partner Andrew Forrest's contention that exporting electrons would not be viable, the approval follows a comprehensive process by the authority that determined the project was technically and commercially viable.
Electricity demand in the Asia-Pacific is set to increase by 70 per cent by 2040 and more than double by 2050.
"High-voltage, long-distance subsea cables are critical to the global energy transition, and solve the transmission of green electrons within and between countries," Mr Patel said.
SunCable aims to deliver 1.75 gigawatts of green electricity to customers in Singapore, as well as the planned 4GW to be retained onshore to power future green industries in Darwin.
Mr Patel said the authority's vote of confidence meant SunCable could move into the next phase of development and commercial activities, including signing up industrial customers in Singapore and strengthening a partnership with Indonesia.
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