The sales process for Sun Cable Pty Ltd, the company behind the Australia-Asia PowerLink (AAPowerLink) project between Australia and Singapore, has indicated interest from multiple parties looking to acquire the company during the sale process.

Sun Cable went into administration after its owners failed to agree on future funding plans. The company, which is owned by private firms Squadron Energy and Grok Ventures, has gone into voluntary management due to a lack of alignment with the goals of all shareholders. Administrators aim to bring the final list of bidders to the submission of mandatory bids by the end of April and expect to complete the process by the end of May 2023. The list of applicants includes a number of potential buyers, including parties that are not existing shareholders of Sun Cable. 

The over AUD$30 billion (US$19.9 billion) AAPowerLink project is designed to bring power to Singapore from a huge solar farm in Australia. The project should provide a significant increase in electricity supply and provide about 15% of Singapore's energy consumption while reducing CO2 emissions by 8.6 million tons per year.