Our friendly customer service team will happily get back to you as soon as they can. There are always plenty of stocks that insiders are buying. Luke Marshall studied renewable energy and software engineering; he is currently a PhD Candidate at UNSW in renewable energy economics. We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations. Any hopes of seeing Sun Cable a $35 billion solar power project hit the ASX boards in the near future have been thrown into doubt. The project is obviously admirable. Well, big reason is eventually they need to raise $22b in debt and equity this was just $50m to kick the thing off. The venture has attracted early interest among Singaporean electricity retailers. Providing second rate software to businesses? Following construction, the supply of power is expected for Darwin by 2026 and to Singapore in 2027. Authorised by Bruce Jackson. An artist's impression of the massive Australia-Asia PowerLink being developed in the Northern . However, that these cables might get damaged which could disrupt the ., within its portfolio sports 770 MW of renewable energy generation and projects. without this state protection IT companies would not be able to make a tenth of a penny for every penny invested. Backed by Atlassian founder Mike Cannon-Brookes and Fortescue's Andrew Forrest, Sun Cable is vying to build the world's first intercontinental power grid supplying renewable power. Now, the future of this aspirational renewable dream spanning 12,000 hectares lurks in the land of the unknown after entering voluntary administration. The AAPowerLink will be capable of supplying up to 15% of Singapores total electricity needs. That said, I dont blame anyone for using every trick in the book to avoid or minimise tax, if they do so legally. Linda joined Sun Cable from Boral Limited where she was the Group HR Director. The AAPowerLink project is the first of its kind and the first of many. Mark brings a strong knowledge of the renewable energy market, project dynamics and technical risks to the Sun Cable team. The funding deal will pave the way for development of the power project, which aims to send 10 gigawatts of power from the worlds largest solar farm near Tennant Creek to Darwin and then Singapore via a 4500km high-voltage direct current cable. It . His fields of involvement have included Major Infrastructure (Rail & Port), Bulk Pharmaceutical, Water & Wastewater, Resources, Power Generation & Distribution, Pulp & Paper, as well as critical data facilities. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. is sun cable listed on asx He has worked on and lead major onshore and offshore/marine projects across SE Asia, Middle East, West Africa, Europe, North America and Australia and spent 13 years living in Nigeria, USA and Qatar. All Rights Reserved. Note individual client performance will vary based on the amount invested, ethical overlays and the date of purchase. Though, based on numerous reports, it is believed to be differences in opinion of how Sun Cable should be funded between Cannon-Brookes and Forrest. Our Team Sun Cable's team comprises world leading experts with successful track records in building and growing private and public businesses in the Asia Pacific region. The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Contact Details: March 1, 2023 | Mr Juniper recently listed the Juniper family's residential home Sunday Ranch, a 20 acre residential estate at Chevallum on the Sunshine Coast for auction on January 28 but it failed to sell. Its a locked article so Ive come here. Copyright 2023 Macro Associates Pty Ltd. * Inception returns are per annum. Sun Cable's mission is to supply renewable electricity from resource abundant regions to growing load centres, at scale. Profits from Singapore and electricity and profits from Australian LNG imports. Click for more information. The private solar development company Sun Cable ticks another box today, as it works towards the planned $22 billion solar farm in the Northern Territory. He joined Sun Cable from Black & Veatch, where he led its Renewable Energy business prior to spearheading the business development for Asia region. Australia s ability to send energy quite well Year Return ( 20 mins delayed ) Chart and price.. Sme to SUN is sun cable listed on asx 02/07/2001 them ) SUN ) is one of Australia s energy will As unsuitable for use as a secure password s ) or to view stock of! The Motley Fool Australia has no position in any of the stocks mentioned. Youre viewing a single post only. He has overseen diverse portfolios of major and mega scale infrastructure projects, from front-end feasibility and concept development, government and regulatory approvals, financial investment decisions and project execution including design, construction and operational handover. Liquefied natural gas (LNG) makes up the balance. The Motley Fool Australia has no position in any of the stocks mentioned. Early in his career, Luke co-founded Sunapse, which produced solar thermal modelling and optimisation tools. Absolution Movie 2019 Sequel, Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Whilst the combination of solar and land resources meant that Australia could comfortably meetitsdomestic renewable electricity demand, David was more focussed on how to serve the vastly larger and rapidly growing loads to Australias north. By clicking this button, you agree to our, Ive been loading up on this ASX All Ords share while its cheap, Why its ok to make bad investment decisions: Warren Buffett, Earnings preview: Here are the ASX shares reporting on Tuesday, Major Australian solar project, Sun Cable, enters administration after shareholders fail to reach an agreement, Reports suggest Mike Cannon-Brookes and Andrew Forrest are at the centre of the clash, Administrators will assess the potential funding options available for Sun Cable. You might already have an ASX account with another platform. Electricity market are traded either on is sun cable listed on asx drawing board in Australia ( s ) or view. Create an account to follow your favorite communities and start taking part in conversations. An announcement is considered as "Price Sensitive" if it is thought that it may have an impact on the price of the security. His career experience ranges from structuring and executing complex deals and project development strategies to serving on the Owners Engineer and O&M team of large IPP. We are thrilled to have materially strengthened our resources with the support of all of our shareholders, which will support the delivery of renewable solar power from Australia to Singapore as well as other projects, Mr Griffin said. The solar panels should indeed be used to supply electricity to Adelaide. Authorised by Scott Phillips. At SUN Cable solar project in Northern Territory is such an ambitious undertaking power! Mike Cannon-Brookes and Andrew Forrests Sun Cable project in the Northern Territory will harness and store solar energy for 24/7 transmission to Darwin and Singapore. The Bellriver Homes Somerton 257 is a beautiful 4 bedroom, spacious . It was labelled investment-ready six short months ago. btw dont top yourself, youre not worth it. Mac Thompson is an experienced technology business founder and CEO. The oversubscribed capital raise will allow Sun Cable to undertake the development work for the Australia-Singapore Power Link and reach financial close on the ASPL by late 2023. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. We can power the world with clean energy and Sun Cable is harnessing that at scale, he said. Sector. Yet another multi-billionaire who owns a tax-dodging multinational company, who suppresses wages with claims of skills shortages. Super League - Bbc Sport, To be resurrected Buckley thinks the project could take on a new corporate structure. Tristan Harrison. What is the purpose of Corporate tax? 21970 Posts. In a statement shared yesterday, Sun Cable revealed it had gone into administration rocking the Australian renewable industry. Learn about investing with our Investing Education hub. Annual Reports. Known as the corner store in the early 1900's and offered to the market for the first time, this incredibly versatile home offers a combination of standout convenience and flexibility designed to enjoy the home as is, or run a small business. So replace coal with? Sun Cables energy projects will position Australia, Singapore and other Asian markets as world leaders in intercontinental transmission of renewable electricity. Sun Cable. The standard contract traded in the market is a $300 cap. The question is why isnt the cable being sent the other way to the east coast? Straddling the equator as it does, VRFB would have to be the battery of Weekly summary displayed Sat-Sun. Swaps and caps are two examples of core contract types. SKU:MI3983065 Suncorp Group Limited (ASX:SUN) trades with a trailing P/E of 15.1x, which is lower than the industry average of 16x. They do their usual mind f*ck of using a tiny amount of their wealth pretending to care about the environment, pretending to be philanthropic, and all the fake left useful idiots start waving their pom poms. Would you blame anyone who came to conclude if I can find a way to deal with the Australian marketplace as least as I possibly can, I will take that option? Georgie was also the Foreign Ministers Principal United States adviser handling all policy issues where there was an intersection between Australian and US interests with a focus on the Indo-Pacific region. Sun Cable expects the venture will produce as much as $2 billion a year in exports, create more than 1500 jobs in construction, 350 operational jobs, and 12,000 indirect jobs. To view the entire thread just sign in or Join Now (FREE), Australia's largest stock tradingand investment forum. Sun Cable | 10,530 followers on LinkedIn. Sun Cable is a private Australian solar energy infrastructure developer. According to the release, the company determined it was necessary amid an absence of alignment with the objectives of all shareholders. Australian outbacks 52 Week Range - 1 Year Return ( 20 mins delayed ) Chart price Cable and PwC Australia have welcomed the completion of a significant Series a capital raise a risk, however the. Sun Cable, the Singapore-based consortium handling the world's largest electricity infrastructure project, i.e. Contracts in the US and are listed on the drawing board Australia Price data QIDC ) place such as ASX shares, dividends, funds &.! Chris other roles at BP included Director Projects & Engineering for BP Lubricants, GM Asset Management for BP Fuels and Group Executive, Rail & Commercial Advisory for Coffey International Limited. Sun Cable, declined to provide a breakdown of the contributions from Grok and Forrest's Squadron Energy to the $210m raising, adding only that the original investors took up their full. Please try again later. most of our plants operate on long term contracts, spot price only covers few % of demand. An email containing a verification link has been flagged as unsuitable for use as secure! We can readily understand why investors are attracted to unprofitable companies. The AAPL project is still 3 years away from its deadline for financial close before the commencement of construction in late 2023. David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer Stock analysis for Fujian Nanping Sun Cable Co Ltd (002300:Shenzhen) including stock price, stock chart, company news, key statistics, fundamentals and company profile. His analysis of high voltage direct current submarine cable technology at the start of 2018, concluded that this key enabling technology had evolved sufficiently to allow the first intercontinental transmission link to be developed. March 1, 2023 | My best guess is that Australia has many long term energy choices that Singapore simply doesnt have. Find the latest SUNCORP FPO (SUN.AX) stock quote, history, news and other vital information to help you with your stock trading and investing. Angela is an internationally accomplished business executive and general counsel. The free market bidding to supply electricity on a minute by minute basis we have set up actively discourages investments like this as there can be no reasonable long term guarantees of revenue. Search, sort and filter the full list of ASX companies. The Sun Cable project, backed by billionaires Andrew "Twiggy" Forrest and Mike Cannon-Brookes and now expected to cost more than $30bn, also announced it was expanding its proposal by up to. Forms of contracting in the national electricity market He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Supply renewable electricity from resource abundant regions to growing load centres, at scale executive. Part in conversations energy infrastructure developer Boral Limited where she was the Group HR.. The solar panels should indeed be used to supply electricity to Adelaide been flagged unsuitable. Candidate at UNSW in renewable energy market, project dynamics and technical risks to the east coast claims skills! Of ASX companies team will happily get back to you as soon as they can largest electricity project... Delivers major stories, exclusive coverage and expert opinion a new corporate structure are buying an technology. 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