“We’ve always believed in the possibilities Sun Cable presents in exporting our boundless sunshine, and what it could mean for Australia,” said Cannon-Brookes, who backs the export plan.
Billionaire Mike Cannon-Brookes (picture) will revive a stalled plan to export solar power from Australia to Singapore after sealing an agreement to acquire the assets of the failed Sun Cable project.
The deal gives Cannon-Brookes and Quinbrook Infrastructure Partners control of a vast renewable energy development in northern Australia, which went into voluntary administration in January following a dispute between the Atlassian Corp. co-founder and fellow billionaire investor Andrew Forrest. The two disagreed over a plan to transport electricity to Asia through a 4,200-kilometer (2,600-mile) submarine cable.
