Target $18.72, page-3598

$30b, eh...the NT Sun Cable Project has gone into Voluntary Administration. Can anyone lend a lazy $30b?

It plans to use solar panels in central NT, & build 800km transmission towers to Darwin, to provide Darwin with electricity; & Singapore with electricity, via a sea bed cable from Darwin to Singapore. It is one of the biggest solar power projects in the world. Construction was hoped to start in 2024.

For Australia's etc. sake, I hope the Project will overcome its technical problems, find more willing investors to provide the $30b (in todays $) to build it, & be, eventually, highly profitable/good ROI- without expensivegovt.subsidies ie paid for by the taxpayer, & profitable, actually viable companies (of which, our coal, gas, & coal companies are some of the biggest).

Fossil fuels will be able to provide cheap, reliable, baseload energy for many years- probably decades. They provide the now much proclaimed "Energy Security"; & are the bulwark of democracy, against blackmailing energy exporting dictatorships eg Russia.

abcTV 7.30 Report 12.1.23 Segment titled "At Risk Of Collapse"
Prof. R. Egan UNSW Energy Institute 12.1.23 said:-

. the Project is looking to "restructure"
. "find new investors"
. there are problems with its underwater cable technology
. Some investors want out-they "have other options to invest").
. she is confident other investors can be found.

https://www.abc.net.au/news/2023-01-12/nt%E2%80%99s-30-billion-dollar-solar-power-project-at-risk/101847636

“Whilst funding proposals were provided, consensus on the future direction and funding structure of the company could not be achieved,” Sun Cable said.

As reported by theSydney Morning Herald, major shareholders Cannon-Brookes and Forrest were unable to agree on a path forward for the business and had ‘clashing ideas’ on ways to fund the company after the project missed a key milestone in September...

This may include a process to seek expressions of interest for either a recapitalisation or sale of the company".

https://www.businessnewsaustralia.com/articles/ambitious--30b-solar-project-backed-by-forrest-and-cannon-brookes-in-administration.html