One of Australia’s largest energy providers, AGL Energy, has rejected a second bid from tech billionaire Mike Cannon-Brookes to buy out the firm and speed up decarbonisation efforts. Cannon-Brookes, co-founder of NASDAQ-listed Atlassian, has been a vocal advocate for renewable energy development in Australia and on March 6, wrote on Twitter that he, along with…
Second Attempted Takeover of Australian Energy Giant by Green Investors Fails
March 7, 2022
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AGL EnergyAustraliaBusiness & EconomyCampbell NewmanCompaniesInternationalMike Cannon-BrookesRenewable EnergySteve BaxterWorld
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Ukraine Invasion Should Push Australia to Embrace Nuclear Energy: Former State Leader
March 2, 2022
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AGL EnergyAustraliaBusiness & EconomyCampbell NewmaneconomyEuropeInternationalMike Cannon-BrookesRussia-Ukraine WarUkraineWorld
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The Russian invasion of Ukraine is a lesson to Australian leaders on the need for energy independence and should spark the development of its nuclear energy industry, according to Australian Senate candidate Campbell Newman. The former Queensland premier and now-candidate for the Liberal Democrats was also critical of tech billionaire and green activist Mike Cannon-Brookes’…
Energy Giant Rejects Takeover Bid From Tech Billionaire Hoping to Shutdown Coal Plants Faster
A tech investor’s multi-billion dollar takeover bid of one of Australia’s largest coal-fire energy companies has been flatly rejected by the board. Australian energy firm AGL confirmed that it had received a preliminary and non-binding offer to acquire all the shares in AGL at $7.5 (US$5.38) per share from investment firm Brookfield and tech billionaire Mike Cannon-Brookes—…
Largest-of-Its-Kind Grid Battery To Be Built in South Australia
South Australia is set to become the host of the world’s biggest battery equipped with the ability to support an all-renewables electrical grid. Australia’s energy retailer kingpin, AGL, has announced Finnish manufacturer Wärtsilä will be heading the construction of its new $180 million (US$130 million), 250 megawatt (MW) grid battery—the first of a planned 850…
Australia’s Largest Energy Company Splits in Two to Cope With Falling Energy Prices
Australia’s largest energy producer and retailer, AGL Energy, will be dividing itself into two new companies that will focus separately on energy production and retail. Announcing the changes on March 30, AGL said it would divide into New AGL, which would take care of AGL’s multi-product retail side, including the delivery of electricity, gas, internet, and mobile…
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