Atlassian cofounder and billionaire investor Mike Cannon-Brookes has taken charge of the $30 billion SunCable solar power project he once labelled as “insane”, with the deal to buy it from the company’s administrators going through last week. Helietta Holdings a joint venture company affiliated with his family venture capital firm, Grok Ventures, in partnership with… Read more »
The battle for control of failed renewable energy startup Sun Cable between billionaires Mike Cannon-Brookes and Andrew Forrest has been won by the Atlassian cofounder. Sun Cable’s voluntary administrators FTI Consulting, announced on Friday afternoon that they’d entered into an asset sale agreement (“ASA”) with Helietta Holdings 1 Pty Ltd, an entity affiliated with Grok… Read more »
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 company’s voluntary administrators look to sell the business. Cannon-Brookes is making the no interest loan through his family venture capital firm, Grok Ventures after… Read more »
Sun Cable – considered to be the world’s biggest renewable energy export project – announced this week it had entered voluntary administration following “the absence of alignment” with shareholders. Sun Cable is expected to cost over A$30 billion. It proposes to build an enormous, 12,000 hectare solar farm in the Northern Territory, add an enormous… Read more »
A $30 billion project to send solar-generated power made in Australia to Singapore has been placed in voluntary administration (VA) amid a reported falling out between its key backers, the tech and mining billionaires Mike Cannon-Brookes and Dr Andrew Forrest. Cannon-Brookes and Forrest are cornerstone investors in Singapore-based Sun Cable – the Atlassian co-founder through his private… Read more »
The value a massive solar farm in the Northern Territory designed to supply power to Singapore, has increased by $8 billion to $30 billion in the wake of approval by the Indonesian Government to run the cable through its waters. The Sun Cable Australia-Asia PowerLink (AAPowerLink) project has some high profile backers, including Atlassian co-founder… Read more »
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