Sun Cable, the company behind a massive solar farm and power export project planned for the Northern Territory, has appointed administrators.
The company, whose major investors include billionaires Mike Cannon-Brookes and Andrew "Twiggy" Forrest, said in a statement: "The appointment followed the absence of alignment with the objectives of all shareholders."
Billionaire investor Mr Cannon-Brookes said the project had achieved a lot since it was founded in 2018 and it retained his full support. "I fully back this ambition and the team, and look forward to supporting the company's next chapter.", with plans for a giant 20-gigawatt solar farm in the Northern Territory that would send much of the power to Singapore via a 4,200-kilometre-long subsea cable.
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