Billionaire investors Mike Cannon-Brookes and Andrew Forrest have butted heads over the future of the Sun Cable Project.
The $30 billion giant NT solar farm that would pump power via sea cable all the way to Singapore was shaping up to create a profile for Australia as a “green export superpower”.
But just before it had the chance to attract more investors, it would appear the project has stalled following a falling out between its key investors, billionaires Andrew Forrest and Mike Cannon-Brookes.
So, what happened?
“This $60 million was going to be the last tranche that would get them there and it’s at this crucial point that it’s all sort of come to a bit of an issue and of course, the result of that had to be voluntary administration.”
Angela Macdonald-Smith, The Australian
According to Angela Macdonald-Smith, The Australian’s Senior Resources Writer it was in the final stages of gathering funds to attract investors that trouble struck.
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