The sale of the Sun Cable project has drawn strong interest after it was forced into administration due to a falling out between Andrew “Twiggy” Forrest and Mike Cannon-Brookes.
Less than six months ago,Atlassian was in a recruiting drive that included a promotional camper van. Now it has joined the conga line of tech firms cutting staff.
The Australian technology company is billing the move as a “rebalancing” but the redundancies are a sharp change from its emphasis on rapid hiring.
The company’s earnings disappointed Wall Street,pushing its stock down 13 per cent in after-hours trade and hitting the wealth of its billionaire founders Mike Cannon-Brookes and Scott Farquhar.
If Andrew Forrest’s Squadron Energy acquired the failed Sun Cable project at a cheap price,would it potentially link in to the billionaire’s other projects in Queensland?
Billionaire Andrew Forrest has declared he still backs plans for a giant solar farm despite clashing with Mike Cannon-Brookes over building a link to Singapore.
Andrew Forrest and Mike Cannon-Brookes are committed to investing billions into the transition to clean energy but have fallen out.
Whether or not Sun Cable survives,there are those who believe that linking grids at previously unimaginable lengths is an idea whose time has come.
Billionaire Mike Cannon-Brookes’ investment fund Grok says it is willing to work with a consortium of “constructive” new investors to rebuild the collapsed $35 billion Sun Cable project.
The company’s slump into administration shapes as a potential setback for Singapore’s plans to import low-carbon electricity but it has other options.
The renewable energy project is in administration after billionaires Mike Cannon-Brookes and Andrew Forrest couldn’t agree on a path forward.