A renewable energy project touted as one of the world's largest solar developments is now prioritising securing Indigenous land use agreements after receiving federal approval to proceed on Wednesday.

Tech billionaire Mike Cannon-Brookes will power ahead investing in Australia's biggest solar farm after the project received the green light from federal Environment Minister Tanya Plibersek on Wednesday.

The $30 billion SunCable Australia-Asia Power Link earmarked for a former pastoral station near Tennant Creek in the Northern Territory is predicted to power three million homes, generate 14,000 jobs and supercharge research and manufacturing of renewable technology.

A majority of the 12,000-hectare solar farm's 4GW of renewable energy would be exported via a 800km overland and under-sea transmission line to Darwin, and then on to Singapore.

Mr Cannon-Brookes, the chief executive of Sydney-based global tech giant Atlassian who is investing in the project, said the $30 billion venture was a milestone project for Australia's renewables export industry.

"Super credit to the SunCable team, this is a major milestone for them," he said.

"It is a huge project … a decade-long initiative to try and make a huge change in Australia's export industry, and we see these milestones as being really important."

SunCable Australia's managing director, Cameron Garnsworthy said the company was targeting a final investment decision by 2027 and was working with Singaporean and Indonesian authorities on approvals for its subsea connections there.

Ms Plibersek said the giant solar farm and transmission lines would boost the NT economy and elevate Australia's renewable-energy status, as world economies target net zero emissions by 2050.

"It will be the largest solar precinct in the world, and heralds Australia as the world leader in green energy," she said.

The Climate Council lauded the federal approval and said it would pave the way for Australia's transition away from coal-fired power.

"The SunCable project shines a light on the cleaner energy grid we're building … and is a bold step in seizing the power of the sun to make Australia a clean energy powerhouse," Climate Council chief executive Amanda McKenzie said.

"Major new projects like SunCable will keep driving up the dominance of solar and wind – delivering affordable energy and slashing climate pollution."

The SunCable project had early support from Fortescue head Andrew Forest, who engaged in a bidding war with Mr Cannon-Brookes to acquire the firm after it was placed in voluntary administration in January 2023.

The pair disagreed if the project's planned transmission of electricity to Singapore was viable, with Mr Cannon-Brookes confident it was.