Two large private investment firms have backed ambitious plans for huge solar farm at Tennant Creek.
Grok Ventures and Squadron Energy have taken positions as co-lead investors on this project.
Grok Ventures is the family investment firm of tech billionaire Mike and Annie Cannon-Brookes, with Squadron Energy under the leadership of mining magnate Andrew 'Twiggy' Forrest.
The proposed Australia-Singapore Power Link is a $20 billion, 10 gigawatt solar farm and a 20-30 gigawatt hour storage facility near Tennant Creek.
If built it would 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.
This project has the potential to create 300 ongoing jobs and 1000 jobs during the construction phase.
NT chief minister Michael Gunner said: "The Northern Territory is fast becoming an energy super power - this is critical for growing the number of local permanent jobs for the Territory.
"The Sun Cable Project is an absolute game-changer for Territory jobs and the economy - this is how we break out of the boom bust cycle.
"Mike Cannon Brookes knows the Territory is a great place to invest and is already backing this project and the Territory's future. Andrew Forrest is one of Australia's most important business leaders and he is backing Sun Cable's vision for the Northern Territory."
The Government has already awarded Major Project Status to Sun Cable's Australia-Singapore Power Link project.
The Katherine solar farm, now under construction just five kilometres from the town, will produce 33 megawatts from about 70 hectares of photo-voltaic panels with a 5.7MW battery energy storage system.
While you're with us, you can now receive updates straight to your inbox each Friday at 6am from the Katherine Times. To make sure you're up to date with all the news, sign up here.