Billionaire’s Solar Deal Revives Undersea Power Cable Dream (1)

Billionaire Mike Cannon-Brookes will revive a stalled A$30 billion ($20 billion) plan to export solar power from Australia to Singapore after acquiring 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 Andrew Forrest, both key investors. The two disagreed over a plan to transport electricity to Asia through a 4,200-kilometer (2,600-mile) submarine cable.

Mike Cannon-Brookes

Source: Bloomberg

“We’ve always believed in the possibilities Sun Cable presents in ...