Billionaire Mike Cannon-Brookes is set to acquire collapsed renewable energy business Sun Cable, despite previous interest from former project partner Andrew Forrest.
FTI Consulting says parties beyond Andrew Forrest and Mike Cannon-Brookes have expressed interest in buying the mammoth solar project known as Sun Cable.
Federal Labor came to office with a ‘Powering Australia' plan, promising to boost renewable energy, reduce Australia's emissions by 43 per cent by 2030, and cut family power bills by $275 a year by 2025.
The voluntary administrators to Sun Cable say the sale process has commenced for the $30 billion solar project, with binding proposals due by the end of April.
Plans to export electricity from Australia to Singapore via a subsea cable are no longer commercially viable and need to be amended, Andrew Forrest's top executive said today.
Billionaires Andrew Forrest and Mike Cannon-Brookes have declared their support for Sun Cable's ambitious $35 billion renewable energy project but its clear they won't be investing together.
Ambitious plans to develop the world's largest solar energy network in the NT have gone awry after a disagreement between billionaire backers Andrew Forrest and Mike Cannon-Brookes.
Sun Cable has hired a suite of global companies including PwC, Bechtel and SMEC to deliver a $30 billion solar project designed to supply renewable energy to Australia and Singapore.
As the chief investment officer at Andrew Forrest's private company, 34-year-old John Hartman oversees a very large, extraordinarily diverse and fast-growing portfolio.
