The company behind a visionary solar project backed by two of Australia's richest men entered voluntary administration last week. We explain what it means.
However, its vision no longer includes funnelling renewable energy through a cable all the way to Singapore.
Whether the project goes ahead or not now lies in the hands of who successfully bids for financial control of the company.Energy finance analyst Bruce Robertson says the disruption to Sun Cable is "definitely a setback" for Australia's growing renewables industry."And it's definitely a blow to decarbonisation globally, because obviously Singapore is extremely land-constrained and needs this type of project to decarbonise.
Sun Cable has previously said it expected the first phase of construction to generate 1,750 jobs, as well as another 350 ongoing jobs across the project's 70-year life span.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Zoomers’ want Sky News Australia ‘cancelled’ over Australia Day TikTokSky News host Paul Murray says “zoomers” appeared to hate Sky News Australia’s TikTok, slamming Greens Senator Lidia Thorpe’s Australia Day tweet, where she questioned who would be celebrating “invasion, murder and theft”. He said these people want Sky News Australia “cancelled”. “A website run by a bunch of middle-aged people pretending to be young, Pedestrian TV, decided to show the hate towards the one about Australia Day, in part because it was made by us here at Sky News,” he said.
Read more »
Harry and Meghan respond to Jeremy Clarkson’s apology for The Sun columnPrince Harry and Meghan Markle have responded to British TV presenter Jeremy Clarkson's apology over a controversial column in The Sun newspaper. Mr Clarkson emailed the couple on Christmas Day to say sorry for the comments, in which he wrote about excrement being thrown at a naked Meghan – describing his language as 'disgraceful'. In a statement issued by a spokesperson for the Duke and Duchess of Sussex, the couple have criticised the apology, saying, '...what remains to be addressed is his long standing pattern of writing articles that spread hate rhetoric, dangerous conspiracy theories and misogyny'.
Read more »
Australia news live: floodwaters cut major Queensland highway; wage growth ‘fastest since 2013’Follow live
Read more »
Queensland MP calls for legislation to protect Australia DayQueensland MP Henry Pike has drafted new legislation that could protect Australia Day on January 26 in the same way as the Australian flag and Anzac Day. The proposal would enshrine January 26 as Australia Day which could only be changed by a national plebiscite.
Read more »
Australia gets 11 new billionaires as wealth gap widensWhile ordinary households struggle with cost of living pressures, just 42 Australians now have a combined wealth of close to $236 billion – and that included 11 newly minted billionaires.
Read more »