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The Latest Breaking News from Mike CannonBrookes

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

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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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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.

AAP

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.

ABC News

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

The Guardian - AU

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.

The Conversation

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.

ABC News

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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

Crikey

Tabcorp results remind us that voting is still dominated by the big end of town

When a vote is counted by shares and not shareholders, the powerful hold sway. Is it time to look at compulsory voting for retail shareholders in ASX300 companies?

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Crikey

Solar flair

Rooftop solar power generation hit a bright spot in Queensland, Victoria, South Australia and Western Australia this spring, and a third of Australia’s public companies paid not one cent in tax in 2020-21.

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.

AAP

AGL to campaign on 'crucial' board vote

AGL Energy has vowed to fight billionaire shareholder Mike Cannon-Brookes' plan to revamp the board of directors ahead of a 'crucial vote' next month.

Crikey

How Essendon and AGL entrench incumbent directors — and all that goes with them

Though from different realms, both companies deploy similar tactics to retain old directors and stonewall the new.

AAP

AGL dismisses billionaire's board overhaul

AGL Energy is preparing for another showdown with billionaire shareholder Mike Cannon-Brookes after largely rejecting his plan for a board renewal.

The Guardian - AU

Foundation backed by Mike Cannon-Brookes invests $10m in bid to cut secondhand electric car cost

Good Car Company plans to run a batch-buy program that would source cars from Japan and the UK

The Guardian - AU

Amid rush to exit coal, AGL’s challenges are only just beginning

Energy retailer says it will need to find $20bn to meet its raised goal of adding 12 gigawatts of new wind and solar plants and storage by 2036

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