Atlassian Corp. co-founder Mike Cannon-Brookes and iron ore magnate Andrew Forrest have committed more cash to a $30 billion Australian dollars ($21.9 billion) project to export solar power from Australia’s Northern Territory to Singapore via an undersea cable.
Sun Cable Pty Ltd. completed a AU$210 million Series B capital raising with existing shareholders to accelerate the progress of the Australia-Asia PowerLink, as well as other projects in its portfolio, the company said in a statement Monday. The raising was led by Cannon-Brookes’ investment group Grok Ventures and Forrest’s Squadron Energy.
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