Sun Cable, the company behind the world’s biggest solar project aiming to supply up to 15 percent of Singapore’s total renewable electricity needs annually, has entered voluntary administration. The company had been backed by two Australian billionaires, Atlassian co-founder Mike Cannon-Brookes and former CEO of Fortescue Metals Group Andrew Forrest. In a vague media statement…
Billionaires-Backed Solar Company Sun Cable Collapses Amid Funding Dispute
January 11, 2023
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AustraliaBusiness & MarketsCompanieseconomygreen energyMike Cannon-BrookesRenewable Energysolar panelsSolar powerWorld
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Billionaire Climate Activist Wrests Control of Energy Giant to Speed up Net-Zero Transition
November 15, 2022
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AustraliaBusiness & Marketsclimate changeCompaniesenergyInternationalMike Cannon-Brookesnet zeroWorld
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Tech billionaire and climate change advocate Mike Cannon-Brookes has won shareholder approval to overhaul the board of Australian energy giant AGL Energy, in a move likely to see the accelerated shutdown of coal-fired power generators in favour of renewable energy. On Nov. 15, AGL’s annual general meeting approved the onboarding of four new directors, Mark…
Global ‘Green’ Investor Lobs $18 Billion Bid for Major Energy Firm to Speed up Net-Zero
November 9, 2022
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AGL EnergyAustraliaBrookfield Asset ManagementBusiness & MarketsCompaniesenergyInternationalMike Cannon-BrookesOrigin EnergyWorld
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One of the world’s largest “alternative” asset managers, Brookfield has lobbed an $18.4 billion (US$11.82 billion) takeover of one of Australia’s largest energy suppliers in a move likely to hasten the country’s net zero push. Headquartered in Toronto, Brookfield Asset Management has put a combined bid along with its affiliates to buy out Sydney-based Origin…
Major ‘Green’ Investor Lobs $18 Billion Bid for Australian Energy Firm to Speed up Net-Zero
November 9, 2022
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AGL EnergyAustraliaBrookfield Asset ManagementBusiness & MarketsCompaniesenergyInternationalMike Cannon-BrookesOrigin EnergyWorld
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One of the world’s largest “alternative” asset managers, Brookfield has lobbed an $18.4 billion (US$11.82 billion) takeover of one of Australia’s largest energy suppliers in a move likely to hasten the country’s net zero push. Headquartered in Toronto, Brookfield Asset Management has put a combined bid along with its affiliates to buy out Sydney-based Origin…
Global ‘Green’ Investor Lobs $18 Billion Bid for Australian Energy Firm to Speed up Net-Zero
November 9, 2022
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AGL EnergyAustraliaBrookfield Asset ManagementBusiness & MarketsCompaniesenergyInternationalMike Cannon-BrookesOrigin EnergyWorld
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One of the world’s largest “alternative” asset managers, Brookfield has lobbed an $18.4 billion (US$11.82 billion) takeover of one of Australia’s largest energy suppliers in a move likely to hasten the country’s net zero push. Headquartered in Toronto, Brookfield Asset Management has put a combined bid along with its affiliates to buy out Sydney-based Origin…
AGL Energy Withdraws Demerger Plan, Announces Board Renewal
AGL Energy scrapped its demerger plan on May 30 after facing strong opposition from its largest shareholder–tech billionaire Mike Cannon-Brookes. In its latest statement, the company said that it was unlikely for the demerger proposal to get the necessary support from three-quarters of the shareholders for the proposition at the June 15 shareholder meeting. “While…
Australian Green Billionaire Confronts Energy Giant Over Demerger Plan
Australian tech billionaire and climate activist Mike Cannon-Brookes has clashed with AGL Energy’s board over its demerger plans after becoming the company’s largest shareholder. This clash comes just short of two months after Cannon-Brookes failed to take over Australia’s largest electricity generator in March to speed up the company’s decarbonisation process. The co-founder of the…
Australian Billionaires Raise $210 Million For World’s Biggest Solar Project
Andrew Forrest and Mike Cannon-Brookes—Australia’s most vocal billionaires on climate change—have invested a further $210 million towards the world’s biggest intercontinental renewable power system. Sun Cable’s $30 billion Australia-Asia Power Link (AAPowerLink) project had already received nearly $50 million from Forrest and Cannon Brookes in 2019 through their respective investment firms, Squadron Energy and Grok…
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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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…
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’…
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