The NT government and Singapore's Sun Cable signed a Project Development Agreement (PDA) for the 22 billion Australian dollar (16.7 billion U.S. dollar) Australia-ASEAN Power Link (AAPL).
The 10 gigawatt (GW), 12,000 hectare solar farm in the Barkly region of the NT Outback will export an estimated 1 billion AUD worth of renewable electricity every year to Singapore via a 3,800 km high voltage direct current (HVDC) cable.
By 2027, it will provide up to 20 percent of Singapore's electricity supply and a significant amount of the NT's.
Michael Gunner, the chief minister of the NT, said the signing of the PDA was a big step forward for the NT's energy and job security.
"This project will put the NT on the international map when it comes to renewables," he said. "It will also see hundreds of Territorians find work in the Barkly and Darwin regions during the construction and operational phases."
"This project will transform the Territory into a renewable energy powerhouse, and cement our position as Australia's comeback capital," he added.
The project is expected to create more than 1,500 jobs in the NT during construction and 350 long-term operational positions.
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