Two of Australia’s richest men – Atlassian Corp co-founder Mike Cannon-Brookes and iron ore magnate Andrew Forrest – have committed more cash to a A$30 billion (US$21.9 billion) project to export solar power from Australia’s Northern Territory to Singapore via an undersea cable.
Sun Cable Pty Ltd completed an A$210 million (US$152 million) Series B capital raising with existing shareholders to accelerate the progress of the Australia-Asia PowerLink, as well as other projects in its portfolio, the company said in a statement on Monday. The raising was led by Cannon-Brookes’ investment group Grok Ventures and Forrest’s Squadron Energy.
Read the full report: South China Morning Post.
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