Sale process begins for AAPowerLink’s Sun Cable

Australia-Asian Powerlink solar farm (sun cable administration sun cable sale AAPowerlink)
Image: Sun Cable

Administrator FTI Consulting says it has started the sale process for collapsed Australia-Asia PowerLink (AAPowerLink) project developer Sun Cable and were seeking binding proposals by the end of April this year.

Related article: AAPowerLink’s Sun Cable in voluntary administration

The company collapsed earlier this month after its main backers failed to agree on future funding plans.

Sun Cable is owned by the private firms of two of Australia’s richest men, Andrew Forrest’s Squadron Energy and Mike Cannon-Brookes’ Grok Ventures.

Once completed, AAPowerLink will export clean energy from a 20GW solar farm with the world’s biggest battery from Australia via the world’s longest undersea cable to Singapore. The project is estimated to cost more than $20 billion.

Related article: Cannon-Brookes to chair $30b Sun Cable project

FTI Consulting says it has secured funding to “allow the continued development of Sun Cable’s development projects” and has set an end-of-May target for the sale’s finalisation.

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