Billionaire Mike Cannon-Brookes is making new progress on plans to export clean energy from Australia to Singapore through a 4,200-kilometer (2,610-mile) submarine cable after taking control of the stalled project.

Cannon-Brookes’s Grok Ventures completed the acquisition of SunCable from administration and is advancing talks with authorities in both Singapore and Indonesia, the investment firm said Thursday. Revised plans envisage building a manufacturing plant for high voltage subsea cables to serve both the project and energy transmission developments globally.

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