Chief Minister Michael Gunner has welcomed the proposed investment of Australian billionaire Mike Cannon-Brookes into the $25billion SunCable Project.

Mr Cannon-Brookes has indicated he will make a funding announcement by the end of the year.

The proposed Australia-Singapore Power Link (ASPL) is a 10 gigawatt solar farm and a 20-30 gigawatt hour storage facility near Tennant Creek.

ASPL will supply loads in the Darwin and Singapore markets via a high voltage direct current transmission.

This is the largest solar farm under development in the world, and it will be built right here in the Territory.

The Tennant Creek region has one of the highest solar irradiance resources on the planet, making it a perfect location for the proposed solar farm.

The project will seek to supply long term, competitive, stably priced renewable electricity to the Darwin and Singapore markets.

In July, the Territory Labor Government awarded Major Project Status to SunCable.

Quotes from Chief Minister Michael Gunner:

"Investing in renewables means more local jobs, and more permanent jobs for Territorians.  

"Mike Cannon-Brookes knows the Territory is a great place to invest and is backing our vision for this project.

"There is no better place in the world to lead the renewable revolution than the Territory.

"We have the guaranteed cloud free days, the land and a Government with the vision, plan and will to make it happen.

"This project stamps our reputation as a place to do business."