Alternative to the Panama Canal

Another pipe dream, or??:

Zero emissions? Just how is the electricity to run this going to be generated?

“, most notably a Chinese bid eight years ago to develop a 284 km waterway across Nicaragua, which never materialised.”
Why would China do this? They already own the canal. Maybe the new lane for container shipping took its place.
The Nicaraguan Canal has failed and they are looking for investors for an underground tunnel. Good luck to them. I would like to see it work, but have doubts.