The future direction of the collapsed $35 billion Sun Cable clean energy export project could be known by the end of April after the administrators set a cracking timetable for the sale process.
Fortescue executive chairman Andrew Forrest, right, and Atlassian co-founder Mike Cannon-Brookes are facing off over the future of Sun Cable. “The Grok interim funding proposal – which was submitted alongside others – has been accepted by FTI Consulting and will be finalised in the coming days,” the spokesman said.
“If there is an opportunity to remain invested alongside a consortium with constructive partners it is something we would certainly consider,” a Grok spokesman said last week. The Grok camp disputes the suggestion that Mr Cannon-Brookes was the instigator of the move to place Sun Cable in administration, pointing out that all shareholders bar Squadron supported a funding proposal made by Grok in December, and that it was Dr Forrest that elected to put the company into voluntary administration.
Sun Cable to Darwin H2 formula: - PV x 20,000MW - Batt Storage x 42,000MWh - dc/dc =dc/ac inverters - Tx x 800km + Subs - H2 Electro x 2,400MW (~76% CF) - Desalt x 3,500ML/an = +$40bn for 0.3mtH2/an or ~2% of the 15mtH2/an x 2030 target, at ~$9/kgH2 (or$76/GJ) (pre shipping)
Good luck to whoever buys it. They are going to need deep pockets.