Global Warming. Renewable Energy.

Billionaire urges overhaul of collapsed Australia-Asia solar mega project

Iron ore magnate Andrew Forrest called on Thursday for an overhaul of a $20 billion-plus project to send solar power from Australia to Singapore, which collapsed after he and tech billionaire Mike Cannon-Brookes split over funding plans. Singapore-based Sun Cable, largely owned by Forrest’s private firm Squadron Energy and Cannon-Brookes’ private firm Grok, appointed voluntary administrators this week less than a year after raising A$210 million for the Australia-Asia PowerLink project. In Squadron’s first public comments since the collapse was announced on Wednesday, the firm said the project “requires vision and precise execution”.