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The Latest Breaking News from Mike CannonBrookes

Sun Cable: Why Australia's two richest men are battling to control an unbuilt solar farm

Mike Cannon-Brookes and Andrew "Twiggy" Forrest used to be lead investment partners on the $30 billion Sun Cable project. Now, they're bidding against each other to control it in a closed-door process close to resolution.

ABC News

MilkRun's demise is another nail in the 10-minute grocery-delivery business model

Sydney-based startup MilkRun made a big splash with its promise to deliver groceries within ten minutes, raising more than A$85 million from some of the biggest names in Australian venture capital, including Atlassian billionare Mike Cannon-Brookes.

The Conversation

Tech giant Atlassian to sack one in 20 workers

Australian-based software firm Atlassian has announced it will cut one in 20 jobs in an attempt to reorganise the company amid economic challenges.

AAP

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AGL Energy boss optimistic on fully decarbonised nation

AGL chief executive Damien Nicks is putting a turbulent year behind him and is optimistic the company can spark a fully decarbonised economy.

AAP

Moelis & Co appointed advisors to Sun Cable sale

The voluntary administrators to Sun Cable say the sale process has commenced for the $30 billion solar project, with binding proposals due by the end of April.

AAP

Sun Cable shines with $65m lifeline

The collapsed Sun Cable solar farm project is poised for a new dawn with a $65 million interim funding offer from one of its billionaire investors.

AAP

Sun Cable demise shows renewable energy mega projects 'really hard'

The collapse of billionaires' plans to export solar power from northern Australia to Singapore highlights the challenges facing mega renewable energy projects, experts say.

ABC News

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'Strong interest' in Sun Cable

The voluntary administrators for Sun Cable plan to have the company sold or recapitalised within months, with Andrew Forrest confirming he'll bid for it.

AAP

Sun Cable's solar project is in voluntary administration. Why has it happened, and what does it mean?

The company behind a visionary solar project backed by two of Australia's richest men entered voluntary administration last week. We explain what that means.

ABC News

The fancy-dress premier, the careless president and the warring billionaires

Reputations on the line in a week of 'pairs'

Newcastle Herald

The A$30 billion Sun Cable crash is a setback but doesn't spell the end of Australia's renewable energy export dreams

Sun Cable – considered to be the world’s biggest renewable energy export project – announced this week it had entered voluntary administration following “the absence of alignment” with shareholders.

The Conversation

Minister talks up a new dawn for Sun Cable

A collapsed renewable solar energy plan to export electricity from the NT to Singapore still has enormous potential, Energy Minister Chris Bowen says.

AAP

Northern Territory government downplays Sun Cable's voluntary administration as list of troubled major projects grows

As a breakdown between billionaire investors threatens one of the Northern Territory's brightest economic hopes, the NT government insists it and other major projects will still go ahead.

ABC News

Morning Mail: Pope Francis praises Pell’s ‘wisdom’, Albanese’s PNG mission, battle of the sun kings

In today’s newsletter: cathedral in Ballarat to hold mass for late cardinal, PM aims for new security deal in Port Moresby and billionaires fall out over solar farm

The Guardian - AU

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AAP

Billionaire-backed Sun Cable collapses

A company funded by billionaires Andrew Forrest and Mike Cannon-Brookes that planned to build the world's biggest solar project has gone into administration.

ABC News

Sun Cable collapses after dispute between billionaire investors Andrew Forrest and Mike Cannon-Brookes

Sun Cable, the company behind a massive solar farm and power export project planned for the Northern Territory, has appointed administrators amid disagreements between Andrew Forrest and Mike Cannon-Brookes.

The Guardian - AU

AGL to close South Australia’s main gas power station, citing new grid link and cheaper renewables

The closure of the Torrens B 600MW gas-fired plant will happen by mid-2026, instead of 2035 as previously planned

The Guardian - AU

After Mike Cannon-Brookes’ shake-up, AGL now faces the challenge of pivoting away from power stations

Boardrooms around Australia will be noting what shareholders can do if you don’t take climate change issues seriously

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The Conversation

Cannon-Brookes shakes up AGL: what now for Australia's biggest carbon emitter

“What is a grok?” asked a shareholder at AGL’s 2022 annual general meeting at the Melbourne Recital Centre on November 15, as those assembled struggled with the reality being forced on Australia’s biggest carbon emitter by Australia’s third-richest person.

ABC News

Lindeman Island the latest tropical Queensland gem to be bought by an Australian investor

Lindeman Island in the Whitsundays is the latest to be sold to an Australian investor amid a resurgent domestic tourism industry, although the future remains unclear for some dilapidated sites.

ABC News

AGL shareholders overrule board to elect directors nominated by Mike Cannon-Brookes

Billionaire Mike Cannon-Brookes scores a resounding victory at AGL's annual general meeting, with all four of his independent director candidates appointed to the energy giant's board.

The Guardian - AU

Mike Cannon-Brookes succeeds in shaking up AGL board

All four of the billionaire Atlassian co-founder’s proposed new directors secured seats on the board of Australia’s largest carbon emitter

AAP

Billionaire secures AGL board overhaul

Four candidates nominated by billionaire Mike Cannon-Brookes' private company, Grok Ventures, have been elected to AGL Energy's board of directors.

The Guardian - AU

Origin Energy to be split in half and invest in renewables under new $18.4bn takeover bid

The energy giant would be divided into electricity generation and gas firms in order to hit Australia’s climate targets

AAP

Billionaire fires next salvo in AGL stoush

Billionaire Mike Cannon-Brookes is rallying shareholders for a larger board at AGL Energy to speed up the leading electricity firm's exit from coal-fired power.

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