The Sun Cable clean energy venture entered into voluntary administration on Wednesday following a clash between two of Australia’s richest men. The $30 billion project aimed to create the worlds largest solar farm in the Northern Territory to power Darwin and export clean energy through the Australia-Asia Powerlink (AA Powerlink). However, an argument between two…
One of Australias largest renewable projects backed by prominent billionaires Andrew Twiggy Forrest and Mike Cannon-Brookes has collapsed. Renewable giant Sun Cable had proposed to build a $35bn solar farm in the heart of the Northern Territory, with a cable to provide green energy to Darwin and Singapore. On Wednesday, the company confirmed it had…
Live A company planning the worlds largest battery and submarine cable as part of a plan to export Australian solar power to Singapore has collapsed into administration. Sun Cable, backed by billionaires Andrew Forrest and Mike Cannon-Brookes, said on Wednesday it made the difficult decision to enter voluntary administration in the hopes of unlocking extra…
The Sun Cable project a multi-billion dollar initiative to export solar power from Australia to Singapore has entered voluntary administration. Chairman of the project, Mike Cannon-Brookes, says the board ultimately failed to reach a consensus on the future direction and funding structure of the company. Mr Cannon-Brookes, along with mining billionaire Andrew Forrest, were the…
One of Australias largest renewable projects backed by prominent billionaires Andrew Twiggy Forrest and Mike Cannon-Brookes has collapsed. Renewable giant Sun Cable had proposed to build a $35bn solar farm in the heart of the Northern Territory, with a cable to provide green energy to Darwin and Singapore. On Wednesday, the company confirmed it had…
Sun Cable, the developer of the worlds largest solar and battery project and backed by two of Australias most powerful energy players Andrew Forrest and Mike Cannon-Brooks has entered voluntary administration. It is not yet clear what this will mean for the companys hallmark project, the Australia-Asia PowerLink, though the companys executives appear optimistic. January…
Jan 11 (Reuters) – Singapore-based clean energy start-up Sun Cable said on Wednesday it will enter voluntary administration, and appointed administrators to oversee the steps forward. The firm, chaired by Australian software mogul Mike Cannon-Brookes, said consensus on the future direction and funding structure of the company could not be achieved. (Reporting by Harshita Swaminathan;…
Sustainability Don’t miss out on the headlines from Sustainability. Followed categories will be added to My News. One of Australias largest renewable projects backed by prominent billionaires Andrew Twiggy Forrest and Mike Cannon-Brookes has collapsed. Renewable giant Sun Cable had proposed to build a $35bn solar farm in the heart of the Northern Territory, with…
Why you keep seeing these sad-looking bikes around your city as company’s second attempt to crack the tricky Aussie market fails dismally Mobike Australia has gone into liquidation after a second attempt in Australia The company was founded in China in 2015 by a former technology journalist About 1600 of the firm’s bikes are abandoned…
LegalPay, which is the countrys largest litigation funding platform, has launched Interim Financing Bonds that will allow retail investors to participate in a segment that is largely seen as an arena only for the high-net-worth individuals (HNIs). These bonds are fixed-income instruments to finance the expenses of companies undergoing Corporate Insolvency Resolution Process (CIRP). Retail…