1 00:00:00,120 --> 00:00:04,080 Speaker 1: Some Cable has reached a major milestone this week, signing 2 00:00:04,080 --> 00:00:07,560 Speaker 1: an Indigenous Land Juice agreement with the Powell Creek Native 3 00:00:07,640 --> 00:00:11,280 Speaker 1: title holders. The agreement marks a key step in progressing 4 00:00:11,320 --> 00:00:14,560 Speaker 1: what's expected to be one of the largest renewable energy 5 00:00:14,600 --> 00:00:18,639 Speaker 1: projects in the region. Sun Cable say the deal follows 6 00:00:18,760 --> 00:00:22,439 Speaker 1: years of collaboration and is going to ensure that traditional 7 00:00:22,440 --> 00:00:25,400 Speaker 1: owners are at the center of the project with commitments 8 00:00:25,400 --> 00:00:30,240 Speaker 1: to jobs, training and business opportunities, as well as cultural 9 00:00:30,360 --> 00:00:34,200 Speaker 1: heritage protection. Now joining me in the studio is sun 10 00:00:34,240 --> 00:00:38,720 Speaker 1: Cable's Jet Street, the director of corporate Affairs. Good morning 11 00:00:38,760 --> 00:00:41,199 Speaker 1: to you, Jets. Good morning, lovely to have you in 12 00:00:41,240 --> 00:00:44,680 Speaker 1: the studio. Now, what does the agreement mean in terms 13 00:00:44,720 --> 00:00:46,640 Speaker 1: of getting the project underway? 14 00:00:47,280 --> 00:00:49,800 Speaker 2: So, the Indigenous Land nes agreement is one of the 15 00:00:49,800 --> 00:00:52,600 Speaker 2: principal agreements that a project needs before it can actually 16 00:00:52,640 --> 00:00:56,720 Speaker 2: move into the detailed project delivery and planning stages. And 17 00:00:56,760 --> 00:00:59,320 Speaker 2: the other principal agreements that you need are with the 18 00:00:59,320 --> 00:01:03,120 Speaker 2: Pastoral Land Order and also your environmental approvals, which we 19 00:01:03,160 --> 00:01:05,520 Speaker 2: secured last year and we spoke about that. I think, yeah, 20 00:01:05,600 --> 00:01:08,280 Speaker 2: that's right, Yeah, yeah, So this and I mean there's 21 00:01:08,280 --> 00:01:09,960 Speaker 2: a couple of others that sit behind that as well. 22 00:01:09,959 --> 00:01:12,800 Speaker 2: But fundamentally, what we've got now is the security across 23 00:01:12,800 --> 00:01:15,680 Speaker 2: the project to be able to move forward with signing 24 00:01:15,720 --> 00:01:18,520 Speaker 2: a customer and then actually planning how we would deliver 25 00:01:18,600 --> 00:01:20,040 Speaker 2: that project for the customer. Yeah. 26 00:01:20,120 --> 00:01:22,720 Speaker 1: Right, So I guess you know, for those on the 27 00:01:22,760 --> 00:01:25,959 Speaker 1: ground at pal Craig, those traditional owners, you know, what 28 00:01:26,000 --> 00:01:28,240 Speaker 1: does it mean for them and how they feeling after 29 00:01:28,280 --> 00:01:29,280 Speaker 1: it was signed earlier in. 30 00:01:29,240 --> 00:01:33,880 Speaker 2: The week, They're feeling ecstatic. I was at the signing 31 00:01:33,920 --> 00:01:37,080 Speaker 2: ceremony in Elliott and yeah, the energy in the room 32 00:01:37,200 --> 00:01:40,720 Speaker 2: was like quite unlike anything I've ever felt before, really, honest. 33 00:01:41,959 --> 00:01:46,560 Speaker 2: We so some Cable commence consultation with the traditional owners 34 00:01:46,560 --> 00:01:50,320 Speaker 2: for this project in March twenty twenty one, so you know, 35 00:01:50,400 --> 00:01:53,200 Speaker 2: four and a half years ago, but the formal negotiations 36 00:01:53,240 --> 00:01:56,840 Speaker 2: only started in September twenty twenty three. So it's been 37 00:01:57,080 --> 00:01:59,040 Speaker 2: a long journey and it has taken a long time 38 00:01:59,080 --> 00:02:01,960 Speaker 2: to build that trust to really understand what their aspirations 39 00:02:01,960 --> 00:02:08,280 Speaker 2: are for that development. The native title holders for Powell 40 00:02:08,320 --> 00:02:11,440 Speaker 2: Creek only secured their native title in twenty twenty as well, 41 00:02:11,760 --> 00:02:15,760 Speaker 2: so you know, quite immediately after receiving their native title, 42 00:02:15,800 --> 00:02:18,639 Speaker 2: they had this opportunity to start moving forward, and for them, 43 00:02:18,680 --> 00:02:25,040 Speaker 2: it's I think, yeah, quite, it's quite a profound moment 44 00:02:25,080 --> 00:02:28,120 Speaker 2: to see that they've really been able to mature an 45 00:02:28,160 --> 00:02:33,880 Speaker 2: opportunity that will start to provide benefits immediately into their families. 46 00:02:33,440 --> 00:02:37,480 Speaker 1: And hopefully sort of you know that generational change as well. Yeah. 47 00:02:37,560 --> 00:02:40,040 Speaker 2: Yeah, So that's actually one of the most unique points 48 00:02:40,160 --> 00:02:43,840 Speaker 2: about this negotiat about this agreement. It actually spans seventy years. 49 00:02:43,919 --> 00:02:47,639 Speaker 2: I understand that's like the longest agreement that's ever been 50 00:02:48,400 --> 00:02:51,000 Speaker 2: kind of entered into in Australia. And that's because we 51 00:02:51,040 --> 00:02:53,400 Speaker 2: see that this project has a seventy year life. 52 00:02:53,120 --> 00:02:54,880 Speaker 1: And so what do you think or when do you 53 00:02:54,880 --> 00:02:57,520 Speaker 1: think we're going to sort of start seeing real jobs 54 00:02:57,560 --> 00:02:59,760 Speaker 1: and training opportunities as well on the ground. 55 00:03:00,440 --> 00:03:03,520 Speaker 2: So what this So the way that our project has 56 00:03:03,560 --> 00:03:06,080 Speaker 2: been developed is that we now have the opportunity to 57 00:03:06,080 --> 00:03:08,799 Speaker 2: start to supply industrial customers in the Barclay from the 58 00:03:08,880 --> 00:03:12,959 Speaker 2: late twenty twenties, and then we would look to develop 59 00:03:13,000 --> 00:03:15,160 Speaker 2: the transmission line and bring power to Darwin in the 60 00:03:15,200 --> 00:03:18,920 Speaker 2: early twenty thirties, and from the mid twenty thirties we 61 00:03:18,919 --> 00:03:22,560 Speaker 2: would look to be able to supply Southeast Asia via 62 00:03:22,639 --> 00:03:25,600 Speaker 2: cross border electricity trade. So there is a really staged 63 00:03:25,639 --> 00:03:30,000 Speaker 2: approach to developing the project. So you know, to answer 64 00:03:30,040 --> 00:03:32,880 Speaker 2: your question directly, we do need to still secure a customer, 65 00:03:33,240 --> 00:03:35,840 Speaker 2: but there is the potential here that the actual project 66 00:03:35,920 --> 00:03:38,800 Speaker 2: could there could be a project that starts construction and 67 00:03:39,360 --> 00:03:40,240 Speaker 2: within a couple of years. 68 00:03:40,320 --> 00:03:43,280 Speaker 1: Yeah, right, so you know to get that. You know, 69 00:03:44,000 --> 00:03:46,480 Speaker 1: is this land use agreement? Is it sort of the 70 00:03:46,520 --> 00:03:49,360 Speaker 1: final green light that you need to be able to 71 00:03:49,400 --> 00:03:50,040 Speaker 1: do all of that? 72 00:03:50,760 --> 00:03:53,120 Speaker 2: So what it is is like the final stage for 73 00:03:53,200 --> 00:03:55,440 Speaker 2: us of those principal approvals, like can you have to 74 00:03:55,480 --> 00:03:57,520 Speaker 2: do like there's another period of work here where we 75 00:03:57,560 --> 00:04:01,320 Speaker 2: do detailed engineering, we you know, secure a customer and 76 00:04:01,360 --> 00:04:05,160 Speaker 2: then you know, you negotiate those terms. You also have 77 00:04:05,280 --> 00:04:07,600 Speaker 2: a lot of other secondary approvals to get through with 78 00:04:07,640 --> 00:04:10,920 Speaker 2: your environmental processes and then there's site works and things 79 00:04:10,960 --> 00:04:13,040 Speaker 2: like this that take place, and then you take financial 80 00:04:13,080 --> 00:04:17,000 Speaker 2: investment decision and that's when construction starts. So that's you know, 81 00:04:17,080 --> 00:04:19,880 Speaker 2: can be a process that takes I would say, you know, 82 00:04:19,920 --> 00:04:23,560 Speaker 2: two to three years, but it depends on the timelines 83 00:04:23,560 --> 00:04:25,359 Speaker 2: that you need and also the scale of that project. 84 00:04:25,400 --> 00:04:27,679 Speaker 2: So you know, that process can actually be quite short 85 00:04:27,720 --> 00:04:31,159 Speaker 2: if depending on what you're actually trying to unlock. But 86 00:04:31,520 --> 00:04:34,560 Speaker 2: there are still I mean some cables already spent about 87 00:04:34,560 --> 00:04:37,200 Speaker 2: fifteen million dollars in the Northern Territory over the last 88 00:04:37,200 --> 00:04:40,880 Speaker 2: five years on our local workforce and also on the 89 00:04:40,920 --> 00:04:45,760 Speaker 2: supply chain to support you know, site activities, surveys, all 90 00:04:45,800 --> 00:04:49,080 Speaker 2: of the kind of consultation work that we've done, and yeah, 91 00:04:49,080 --> 00:04:50,160 Speaker 2: the approvals and so on. 92 00:04:50,440 --> 00:04:52,840 Speaker 1: Jet. I know, sometimes when there's a major project you 93 00:04:52,880 --> 00:04:55,719 Speaker 1: know that that is getting underway or that is underway, 94 00:04:55,760 --> 00:04:57,920 Speaker 1: sometimes locals sort of feel like, oh, I can't really 95 00:04:57,920 --> 00:04:59,960 Speaker 1: see anything happening, so I don't go if it is. 96 00:05:00,760 --> 00:05:03,680 Speaker 1: You know, what is this project going to mean more 97 00:05:03,720 --> 00:05:05,520 Speaker 1: broadly for the Northern Territory. 98 00:05:06,200 --> 00:05:09,200 Speaker 2: Yeah, you're right. I think we're a victim of that 99 00:05:09,279 --> 00:05:11,360 Speaker 2: exact thing that you're spoken about where people think it's 100 00:05:11,400 --> 00:05:14,159 Speaker 2: not really moving. But actually we've only really been a 101 00:05:14,160 --> 00:05:17,000 Speaker 2: project for about five years. But because we're so big 102 00:05:17,080 --> 00:05:19,520 Speaker 2: and have such a big profile, people expect that we 103 00:05:19,520 --> 00:05:22,520 Speaker 2: should already be constructing by now. But what we've achieved 104 00:05:22,520 --> 00:05:25,160 Speaker 2: in those five years is really normal for a big, 105 00:05:25,240 --> 00:05:30,800 Speaker 2: complex energy project. So the way that we can move 106 00:05:30,839 --> 00:05:33,440 Speaker 2: forward with this is that basically, we take these next 107 00:05:33,480 --> 00:05:35,880 Speaker 2: stages of development and take FID and what you'll see 108 00:05:35,960 --> 00:05:38,159 Speaker 2: is that, you know, there'll be industry briefings and these 109 00:05:38,160 --> 00:05:41,400 Speaker 2: types of engagements that happen so that local business has 110 00:05:41,440 --> 00:05:45,160 Speaker 2: the opportunity to understand how they participate in the project 111 00:05:45,640 --> 00:05:48,599 Speaker 2: and to support that, we have a really robust territory 112 00:05:48,600 --> 00:05:51,719 Speaker 2: Benefit plan that sets out exactly how we will structure 113 00:05:51,720 --> 00:05:54,400 Speaker 2: our contracting to make sure that those benefits flow to 114 00:05:54,440 --> 00:05:54,920 Speaker 2: the region. 115 00:05:55,200 --> 00:05:57,640 Speaker 1: And then in terms of you know, the Northern territories 116 00:05:57,960 --> 00:06:00,360 Speaker 1: energy needs. Oh yeah, how you know, how how big 117 00:06:00,360 --> 00:06:01,800 Speaker 1: an impact do you think that's going to have. 118 00:06:02,120 --> 00:06:04,200 Speaker 2: Thanks for drawing back that point, because this is actually 119 00:06:04,200 --> 00:06:07,240 Speaker 2: my favorite point. The whole thing about sun Cable is 120 00:06:07,240 --> 00:06:10,400 Speaker 2: that we're developing the world class solar resource in the 121 00:06:10,400 --> 00:06:14,040 Speaker 2: Berkley region. It's honestly the best in the world. And 122 00:06:14,080 --> 00:06:16,479 Speaker 2: what we can do is develop that at scale, which 123 00:06:16,520 --> 00:06:19,120 Speaker 2: means that the price that we can supply that power 124 00:06:19,680 --> 00:06:22,960 Speaker 2: is globally like best in class. And what we will 125 00:06:23,000 --> 00:06:25,599 Speaker 2: do then is attract really big developments to the Northern 126 00:06:25,680 --> 00:06:28,960 Speaker 2: Territory to use that power. So some of those markets 127 00:06:29,040 --> 00:06:32,919 Speaker 2: include data centers, which have an insatiable demand for energy 128 00:06:32,920 --> 00:06:35,960 Speaker 2: at the moment, and looking more broadly, it can also 129 00:06:36,000 --> 00:06:41,160 Speaker 2: support decarbonization of industry, advanced manufacturing for critical minerals, your 130 00:06:41,240 --> 00:06:44,760 Speaker 2: hydrogen based derivatives such as ammonia or sustainable aviation fuel 131 00:06:44,839 --> 00:06:49,320 Speaker 2: or emethane, and these are huge industrial markets that are 132 00:06:49,320 --> 00:06:51,839 Speaker 2: going to continue to grow over the next ten to 133 00:06:51,880 --> 00:06:54,919 Speaker 2: fifteen years, and it puts the Northern Territory at the 134 00:06:54,960 --> 00:06:59,679 Speaker 2: center globally for the opportunity, puts US at the center 135 00:07:00,000 --> 00:07:03,880 Speaker 2: being able to develop those industrial opportunities and be a 136 00:07:03,920 --> 00:07:07,680 Speaker 2: world leader in kind of green Yeah. 137 00:07:07,720 --> 00:07:10,320 Speaker 1: Well, Jet Straight, it's fantastic to speak to you this morning. 138 00:07:10,320 --> 00:07:12,480 Speaker 1: And I think that it's important for people to understand 139 00:07:12,480 --> 00:07:14,920 Speaker 1: as well the progress that's being made, because sometimes when 140 00:07:14,920 --> 00:07:16,840 Speaker 1: you can't see what's happening, you sort of don't know 141 00:07:16,960 --> 00:07:19,680 Speaker 1: what's going on. So it's really good to speak to 142 00:07:19,720 --> 00:07:21,560 Speaker 1: you this morning. I appreciate your time.