CANBERRA, March 19 (Xinhua) -- An ambitious plan for a battery-powered plane race from London to northern Australia has received the backing of the Northern Territory (NT) government.

The proposal was put forward by businessman Dick Smith who said it should be timed to mark the centenary of the Great Air Race of 1919 from Britain to Australia.

Smith has put up 1 million Australian dollars (771,000 U.S. dollars) in prize money, a step-up from the 10,000 Australian pounds on offer for the 1919 race.

Smith's initial proposal relied on the federal government support but then-minister for industry, innovation and science Greg Hunt said his department was "unable to support the proposed race."

However, 18 months on from Hunt's rejection, Smith's idea has been handed a lifeline by NT Chief Minister Michael Gunner and a group of major event entrepreneurs who have joined forces to make the race happen.

Gunner is expected to make an official announcement of the race, which will form part of a larger celebration of the 1919 race this week.

The 1919 race, widely considered the greatest feat of Australian aviation, was subject to a series of stipulations including that all competitors were required to be Australians flying aircraft made in the British Empire.

Contestants were given 30 days to complete the voyage with pilot Ross Smith winning with his brother Keith and mechanics James Bennett and Wally Shiers in a modified bomber.

Their plane was donated to South Australia and is on display at the Adelaide Airport.

Nigel Daw, head librarian of the South Australian Aviation Museum, described it as "one of Australia's greatest aviation gems."