Two of Australias richest people are expected to be rivals in the bidding process for Sun Cable, the developer of what could be the worlds biggest intercontinental solar and energy storage project. Administrators indicate that the sale process could be completed within three months. January 24, 2023 David Carroll From pv magazine Australia The future…
A South Australian manufacturer that launched over a decade ago could be one of the states biggest corporate insolvencies as it was revealed it collapsed owing a whopping $70 million to 530 creditors. Another casualty was the collapse of its sister company Nexteel, which produced pre-painted steel, and went under owing $18 million to 130…
Thousands of customers may no longer receive their orders from an online furniture and homewares retailer after its administration recommended winding up the company. Administrators have recommended winding up Brosa after it was sold to Kogan.com for $1.5 million in December 2022 when it fell into voluntary administration. The company entered administration with $4.3 million…
The Perth accountant who pocketed millions in fees over the drawn-out liquidation of Alan Bonds billion-dollar Bell Group has found his company on the other end of a wind-up order at the hands of the tax boss. The Commissioner of State Revenue has launched Federal Court action to have company Anthemis wound up, an entity…
Atlassian cofounder and billionaire investor Mike Cannon-Brookes has lent Sun Cable, the startup behind a $30 billion project to send solar power to Singapore, $65 million to keep operating as the companys voluntary administrators look to sell the business. Cannon-Brookes is making the no interest loan through his family venture capital firm, Grok Ventures after…
The Perth accountant who pocketed millions in fees over the drawn-out liquidation of Alan Bonds billion-dollar Bell Group has found his company on the other end of a wind-up order at the hands of the tax boss. The Commissioner of State Revenue has launched Federal Court action to have company Anthemis wound up, an entity…
Grok Ventures, the private arm of billionaire Mike Cannon-Brookes, will provide a $65 million loan to keep the company going while administrators seek a buyer. The funding would include a six-month interest-free period, Grok said in a statement. Administrators from FTI Consulting have accepted the Grok Ventures offer over other proposals and will finalise the…
Analysis A plan backed by Atlassian co-CEO Mike Cannon-Brookes aimed at providing 15 percent of Singapore’s electricity needs using solar energy generated in Australia has collapsed. The Australia-Asia PowerLink (AAPL) project envisioned installing 120km2 of solar panels capable of generating 3.2 gigawatts in Australia’s Northern Territory, storing the output in a giant battery near the…
by AAP | January 20, 2023 15:42 | News Sun Cables administrators say they hope to have the company behind a $30 billion project to export Australian solar power to Singapore sold or recapitalised within three months. A committee of creditors was held on Friday, after the company entered voluntary administration on January 11 following…
Credit: Michael Duva / Getty Images Last week, we talked about the Sun Cable as one of five energy projects to watch for in 2023 on The Science Briefing. A day later, the company announced it was going into voluntary administration. So, what exactly is the Sun Cable and why is it in trouble? What…