Sunday Territorian

Winning bid good for NT: Fyles

- Fia Walsh

The Northern Territory government has welcomed Mike Cannon-Brookes’ winning bid for control of the $30bn Sun Cable export venture as a positive outcome for the NT, after the billionair­e’s tussle with Andrew ‘Twiggy’ Forrest over the deal came to an end this week.

Dr Forrest withdrew his interest in the deal on Thursday, leaving the Atlassian cofounder the favourite to acquire Australia’s bigg e s t r enewable energy project.

Chief Minister Natasha Fyles said she looked forward to working with Mr Cannon-Brookes’ Grok Ventures and its partnering investment firms to “ensure the best possible outcome for the Northern Territory”.

“With greater clarity over the Project’s direction, the Territory Labor government is committed to successful­ly completing the project for the benefit of our community and local suppliers, and securing ample supply of renewable power for the Territory,” Ms Fyles said.

The Australia-Asia PowerLink is Sun Cable’s flagship project that plans to develop the world’s largest solar farm and battery storage in the NT, running a 4200km undersea cable from Darwin to Singapore to provide power to the region.

Sun Cable was placed into voluntary administra­tion in January after Mr CannonBroo­kes and Dr Forrest clashed over funding, management and direction of the company.

Voluntary Administra­tors FTI Consulting confirmed in a statement on Friday the Grok Ventures-led consortium had entered into an Asset Sale Agreement to acquire substantia­lly all of Sun Cable assets, including shares in all of Sun Cable’s subsidiari­es.

 ?? ?? Mike CannonBroo­kes
Mike CannonBroo­kes

Newspapers in English

Newspapers from Australia