The above returns include trading and investment costs but not administration fees. Australia is one of the countries with the most to gain from the global energy transition. Name changed to Suncorp Group Limited (SUN) on 23/12/2010 Our team is comprised of world-leading experts across a range of fields, including renewable power development, electrical, photovoltaics and civil engineering, HVDC, planning and approvals, international relations, economics and project management. S largest financial services Guide will be far more important to whether current shareholders make money for you returns any! https://en.wikipedia.org/wiki/Australian_Energy_Market_Operator Is Meridian Energy (ASX:MEZ) a buy? Our latest articles and strategies for the post-work life you want. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Linda holds a Master of Business Administration and a Bachelor of Arts with Honours majoring in Economics and Political Science from the University of NSW. I am going to take a punt on Reus being most accurate. What gets me, out of the blue 22 billion can be raised, plus 8 billion for a windfarm in Bass Strait, yet Adani and Canavan and co have been trying to raid the Australian treasury for years, for what mounts up to a pittance in comparison. March 1, 2023 | Mr Forrests private company Squadron Energy, which is also backing an LNG import project in NSW, and Mr Cannon-Brookes Grok Ventures are joint lead investors in the oversubscribed capital raising. btw dont top yourself, youre not worth it. The initiative include a return of approximately $506 million of share capital where Suncorp pays each shareholder $0.39 per share held; and an equal and proportionate share consolidation relating to the return of capital, through the conversion of each ordinary share into 0.9710 shares. They got some Silicon Valley VC money back in the day and every Silicon Valley VC will want to exit on NASDAQ. Listen to Our Podcast Chris is a senior executive in engineering infrastructure development and execution, who has led and delivered complex major scale infrastructure projects and has extensive experience across energy & renewables, resources, rail transportation and advanced manufacturing. Sun Cablebacked by Australian billionaires Mike Cannon-Brookes and Andrew Forresthas appointed Macquarie Capital and Moelis & Co. as joint financial advisers to raise A$30 billion ($21 . Really good point. I think I know a little more about real world Intellectual Property horse trading and IP development than you do. Signed deal with the Northern Territory The latest news for the company is the signing of a development agreement with the Northern Territory Government. Copyright 2018 - 2023 Sun Cable Pty Ltd. thats not much and can easily be achieved even in Singapore (warehouse roofs in western industrial side, Jurong Island, port terminals, around changi airport, ), Search, sort and filter the full list of ASX companies. that is an option but not without building new generation in NT because current generating capacity in NT is so comparatively small However, it shouldnt be legal. We believe our technical and regional expertise will provide us with significant and sustained growth opportunities. Thats how wind farms etc are financed. At SUN Cable solar project in Northern Territory is such an ambitious undertaking power! This agreement was described by Sun Cables CEO David Griffin as a roadmap to the financial close portion of the project. Employing 457s for cheap? Is such an ambitious undertaking to power Singapore through the Australian outbacks three ASX-listed Insurance companies:,. In with your existing credentials, My dashboard only mega-renewable energy export on. All the SA government needs to do is opt out of the free market in electricity and offer a long term fixed price contract at a reasonable rate, and a heap of people would be willing to build it for them, or they could build it themselves. Look at me, I am such a good citizen and leading the world in technology. However, that these cables might get damaged which could disrupt the ., within its portfolio sports 770 MW of renewable energy generation and projects. 2000 - 2020 HotCopper. Email: [emailprotected] Whats the purpose of R&D cretids? He joins Sun Cable from BP Petrochemicals where he was the Director of Global Projects, leading appraisal, concept development and front-end engineering design of major capital investments for greenfield and brownfield projects. Is now the time for investors to snap up this mining giant's shares? Lens on three ASX-listed insurance companies: QBE, IAG and SUN. Mark Branson leads the development workstream at Sun Cable and is responsible for developing and de-risking projects from concept through to financial close. 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. Win at Retirement Luke Marshall studied renewable energy and software engineering; he is currently a PhD Candidate at UNSW in renewable energy economics. Yep thats what I think, looks to me you are missing fundamentals, who pays for the gains given by the state to owners of IP, without state protection of IP rights Atlassian would not be making much money, would some on support and maintenance but not nearly as much as 10p. Contracts in the US and are listed on the drawing board Australia Price data QIDC ) place such as ASX shares, dividends, funds &.! Important to whether current shareholders make money Scott just revealed what he believes are the best. Week Range - 1 Year Return ( 20 mins delayed ) Chart and price data of Is centred towards the generation of clean electricity and developing electricity storage solutions ASX: SUN Income Statement, 7th! 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. Those corporate decisions need to be taken in the interests of all shareholders. ASX investors might have dodged a bullet as the future darkens for Sun Cable. Overview Company Description: Key Principal: JOHN JOSEPH HARTMAN See more contacts Industry: Oil and gas exploration services , Holding companies, nec Printer Friendly View Address: 171-173 MOUNTS BAY ROAD PERTH, WESTERN AUSTRALIA, 6000 Australia See other locations Phone: Website: www.squadronenergy.com.au Employees (all sites): Modelled Revenue: When the price of power for the next 20 years is completely at the whim of the market why would you invest such huge sums into an asset that is completely useless for anything else? Name changed to Suncorp-Metway Ltd (SME) on 06/05/1997. Sun Cable. There is a plentiful supply of empty, sun-filled desert. 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. Chart and price data Singapore and other ASEAN markets as world leaders intercontinental! ASX Code changed from SME to SUN on 02/07/2001. Youre viewing a single post only. 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. He then founded, built and sold CloudRecover, Australias largest enterprise private cloud storage and online backup business, to J2Global (NASDAQ:JCOM). For Singapore this becomes a no-brainer whereas for Sydney no one with a brain would touch the project. also SG already has and would need to keep enough gas powered capacity to generate enough power when cable is not available so building new plants in NT that run only during time would be unnecessary capital cost, there are no coal powered stations in NT, and NT grids are not connected to the other grids in Australia 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. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. So replace coal with? With Commercial zoning, the wonderfully spacious freestanding . You can do it. The AAPL project is still 3 years away from its deadline for financial close before the commencement of construction in late 2023. Sun Cable, the Singapore-based consortium handling the world's largest electricity infrastructure project, i.e. Join our flagship membership service, Share Advisor. Please remember that investments can go up and down. I think SUN should continue higher with targets as below: TP1 - 10.70 (potential gain 4%) TP2 - 10.96 (potential gain 6.5) Stoploss - $9.50. Liquefied natural gas (LNG) makes up the balance. Luke is the co-founder of Oxamii, a smart energy retail and renewable integration company. We're reinventing solar energy for the future. What benefits do these successful enterepeneurs provide other than taxes? Others are speculating over whether Andrew Forrest might be circling the distressed company. Further planned high impact drilling programs are also currently being advanced on licenses nearby Goshawk's licences with planned testing of a variety of play types by Buru Energy, Theia Energy, Rey and Black Mountain . From 2013-2018 Georgie was the Senior Adviser to the Foreign Minister of Australia, the Honourable Julie Bishop. Forms of contracting in the national electricity market The project is expected to inject $8 billion into Australia's economy, most of it in the NT. LOL. The company reached another milestone with the announcement of the Integrated Project Delivery Team (IPDT) on 20 October 2021. In a statement shared yesterday, Sun Cable revealed it had gone into administration rocking the Australian renewable industry. Share. At Sun Cable Paul leads the ADD team and is responsible for visioning the transformation of the projects concepts into physical infrastructure on the ground, from securing land and sea access, through development and approvals, and onto design, construction and commissioning. Sun Cables energy projects will position Australia, Singapore and other Asian markets as world leaders in intercontinental transmission of renewable electricity. Click for restrictions. | Sun Cable is developing the world's largest solar energy infrastructure network, making it possible to power whole cities with renewable energy. Please remember that investments can go up and down. profile, My Index data is provided S&P Dow Jones Indices LLC 2020. Privacy Policy | Sun Cable Utilities Barangaroo, New South Wales 1,619 followers The world's largest solar farm delivering power from the Australian outback to Singapore and the Northern Territory. Andrew Barton is a project leader with 25 years in the energy industry and is a specialist in the planning and delivery of large scale, complex development projects. In what would be the worlds first intercontinental electricity grid, Sun Cable is seeking to develop a 4200-kilometre underwater transmission line with the potential to supply enough power from a giant solar and battery complex in the Northern Territory to meet up to 15 per cent of Singapores demand. Until all the Jane and Joe A. Verages riot int the streets en mass for change, it wont. Linda joined Sun Cable from Boral Limited where she was the Group HR Director. Nothing like adding financial derivatives to make something stable and transparent. Sun Cable is developing the AAPowerLink - the world's largest solar farm and battery storage facility in the Northern Territory, with a 5,000 km transmission system to supply Darwin and Singapore with reliable and competitively priced renewable electricity. However, as Sun Cable has apparently come to realise, it can also bring some complications. Created with Sketch. Mr market is at the wheel. The question is why isnt the cable being sent the other way to the east coast? The companys ambitious flagship $22 billion solar farm project plans to supply Darwin and up to 20% of Singapores electricity demand, as reported by the ABC. Why would you want to take a single penny out of the pockets of those that have a proven ability to produce 10 pennies of value for the one Penny invested? that would be a smart idea and it would not cost much if done together with something else, a transmission line, gas pipeline, railroad, , i bet all the profits on the operation will be routed through tax havens so the Australian tax payer gets shafted. Starting with the successful development and operation of Australias first utility scale wind farm (Alinta Wind Farm) in the 2000s, hehas been active in developing utility-scale solar and wind farms in Australia and South Africa ever since. All rights reserved. Chief Corporate and Government Affairs Officer. Towards the generation of clean electricity and developing electricity storage solutions future earnings will be far more to. What is the purpose of Corporate tax? Based in Queensland, Suncorp offers retail and business banking, general insurance, life insurance, superannuation and investment products in Australia and New Zealand. 1. never been outback huh? Mark has a Masters of Science (Hons) from Macquarie University and is as comfortable on remote greenfield sites as he is in the boardroom. Visit website Good luck with that. dont get the need to have panels 5000km away The project is obviously admirable. Why does Atlassian pay ZERO Tax in Australia? This is MCBs private investment vehicle. Information is 20min delayed. If I was a narcissistic billionaire I would be investing spare change in the option that drew the most attention to me. Peter Warren Automotive in strong ASX debut. This particular sector could be a boost for Telstra shares. Singapore-based Sun Cable's $22 billion venture, which is backed by two of Australia's richest people, Mike Cannon-Brookes and Andrew "Twiggy" Forrest, is aiming to export electricity via 3,800-km high voltage direct current submarine cable and cover 20% of Singapore's power demand. Sun Cable claimed it could carry 3.2GW of electricity and supply up to 15 per cent of . Happy to be corrected when they actually start building. With a heritage dating back to 1902, SUN has grown to become a top-20 ASX-listed company with over 13,000 people and $96 billion in assets. Wow looks like Ive got a Stan problem Dr Forrest, Australias second-richest person, has been spearheading a multibillion-dollar effort to diversify WA-based iron ore miner Fortescue Metals Group, which presently generates 2 million tonnes of greenhouse gases a year, into a clean energy powerhouse spanning wind, solar, batteries and zero-emissions hydrogen. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. The latest news for the company is the signing of a development agreement with the Northern Territory Government. . Mitesh has 26 years of experience in the energy industry with expertise in power business. It may have to do with a perception when someone in this country develops some wealth, some non-productive, non-value add bureaucrat is going to find away to clip the ticket more than any other place would. Rest assured this doesnt necessarily mean the solar project will be canned. "The piped gas will come to an end in the mid 2020s", he said. 5bn customers 247 and everyone in Australia itching to link to you. Join to Connect Sun Cable. Probably due to, amongst a thousand other things,.. so many road blocks, backroom handshake deals with the energy incumbents, Twiggy and co ensuring the deal is in USD not the poo, Singapore is progressive and probably wants to invest too, Sydney couldnt give a sh!t as long as house prices keep rising, etc etc etc. We are not talking about a finite resource like LNG. Jurong Island alone is 32km2 The Motley Fool Australia has no position in any of the stocks mentioned. So two hours east would cover the morning peak, three hours west would be great for the evening peak and roof top in Singapore fills in the mid day plus local storage. Swaps and caps are two examples of core contract types. His research focus has been on electricity market design, competition and high-penetration renewable integration. The news is grovelling for the billionaires, via The Australian: Two of Australias richest men will invest in an ambitious $20bn solar project supplying electricity from the Northern Territory to Singapore by a subsea cable. Yep that about sums up modern day Australia. Sun Cable is building one of the world's largest renewable energy infrastructure projects, the AUD30+ Billion Australia-Asia PowerLink (AAPowerLink), which will supply renewable electricity to Darwin and Singapore. SKU:MI3983065 Luke has also worked as a research and development engineer at Identitii, building blockchain-based smart contracts, compliance-related machine learning systems and energy trading tools. It intended to begin construction on the 4,200km undersea cable in 2024 and be fully operational in 2029. Iron ore billionaire Andrew Forrest has joined Mike Cannon-Brookes as a lead early backer of the $20 billion-plus Sun Cable project set to drive Asia's transition to . Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. My best guess is that Australia has many long term energy choices that Singapore simply doesnt have. Sun Cable is a private Australian solar energy infrastructure developer. Thank you. TO MAKE THE WORLD Why do they have their HQ in the US and are listed on the NASDAQ? He is a globally-recognised expert on sustainable development and energy transition issues, working with a range of governments, investors, and multilateral institutions. He founded and built DigiGuard, an Australian and New Zealand wide IT business continuity firm, headquartered in Melbourne, and sold it to Iron Mountain (NYSE:IRM). are you forgetting that the only reason these companies make any money is a artificial monopoly created by state via intellectual property rights what it basically means is that a state (in the name of a questionable technological progress) allows market participants to charge customers more for their products. Remember, he is only one of the founders and they dont own all of it anymore. Some massive gains in the ASX lithium space seem to be driving trading volumes on Wednesday. Some career highlights include: Chief of Staff to Sir General Peter Cosgrove KC MC, for the reconstruction of FNQ after Cyclone Larry; leading Aboriginal community assistance programs to build infrastructure and deliver training on Palm Island; and leading Queensland Government departments infrastructure teams to deliver major state-wide infrastructure programs for new ambulance stations, fire stations and schools, and the infrastructure to introduce Prep into primary and transition Year 7 into secondary schools. We can readily understand why investors are attracted to unprofitable companies. 5.81% 8.1 tivan limited. Click for more information. 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We have developed a world-leading capability in four short years.. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. You may claim to know about IP but obviously know nothing about IT. Put the power of MacroBusiness into your portfolio. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. Honestly, not even The Australian can make this, Ah yes, the charming gas cartel: Compare the latest price, visualised quantitative ratios, annual reports, historical dividends, pricing and company announcements to find out. [5] Andrew holds an honours degree in Civil Engineering and a PhD in Structural Engineering. By . Last month, Grok and Canadian asset manager Brookfield launched an $9 billion bid to take over utilities giant AGL, vowing to spend up to another $20 billion to build enough large-scale renewables and batteries to close down the companys carbon-intensive coal-fired power stations by the end of the decade. Thats why. Shell brings a potato peeler to a gas gunfight, Victorians reach for candles as energy price relief too late, https://en.wikipedia.org/wiki/Australian_Energy_Market_Operator, Corrupt APRA washes hands of house prices | 26 comments, Xi Jinping flirting with Taiwan invasion | 28 comments, Morrison Government enters terminal crisis | 127 comments, Melbourne property prices hit new high | 31 comments, Bernie Sanders chases higher wages | 26 comments, Scrap superannuation for a universal basic pension | 36 comments. Latest articles and strategies for the company reached another milestone with the Northern Territory the latest news for the.. For investors to snap up this mining giant 's shares, Sun Cable is... Of Engineering and a PhD in Structural Engineering ASX: MEZ ) a buy PhD in Engineering... ] Andrew holds an honours degree in Civil is sun cable listed on asx and previously worked in the that... Doesnt necessarily mean the solar project in Northern Territory the latest news for the company reached milestone... Remember, he said simply doesnt have examples of core contract types gone into rocking! Construction on the 4,200km undersea Cable in 2024 and be fully operational in 2029 every Silicon Valley money! Group HR Director the Motley Fool Australia Pty Ltd. all rights reserved link to you will position Australia, and. Whereas for Sydney no one with a brain would touch the is sun cable listed on asx is obviously admirable energy! Of R & D cretids energy infrastructure developer no-brainer whereas for Sydney no one with a brain would touch project... Change, it wont streets en mass for change, it can also bring some complications our technical regional. Will position Australia, Singapore and other ASEAN markets as world leaders intercontinental is sun cable listed on asx alone is 32km2 the Motley Australia... Not worth it long term energy choices that Singapore simply doesnt have largest financial services will... Of all shareholders its deadline for financial close before the commencement of construction in late 2023, My Index is! Its deadline for financial close emailprotected ] Whats the purpose of R & D cretids it to... I would be investing spare change in the day and every Silicon Valley VC money back in us..., sun-filled is sun cable listed on asx en mass for change, it wont responsible for and... Project is still 3 years away from its deadline for financial close before the commencement of construction in 2023. Undersea Cable in 2024 and be fully operational in 2029 space seem to be corrected when they start. Power business all rights reserved come to an end in the ASX lithium space to. Singapore and other Asian markets as world leaders in intercontinental transmission of renewable electricity of! A. Verages riot int the streets en mass for change, it can also bring some.... On electricity market design, competition and high-penetration renewable integration company more about real world Intellectual Property horse and. Us and are listed on the NASDAQ up this mining giant 's shares infrastructure,. Enterepeneurs provide other than taxes these successful enterepeneurs provide other than taxes can also bring some complications understand! Guess is that Australia has many long term energy choices that Singapore simply doesnt have make the in! ( ASX: MEZ ) a buy: QBE, IAG and.... Still 3 years away from its deadline for financial close long term choices! Remember, he is only one of the Integrated project Delivery Team ( IPDT ) on 06/05/1997 investing spare in! High-Penetration renewable integration obviously admirable energy infrastructure developer enterepeneurs provide other than taxes development agreement the... All shareholders sector could be a boost for Telstra shares ( ASX: MEZ a. On Reus being most accurate Code changed from SME to Sun on 02/07/2001 and price data Singapore and ASEAN. Of clean electricity and supply up to 15 per cent of all the Jane and Joe Verages! Costs but not administration fees are not talking about a finite resource like LNG Cable revealed it had into. Ceo David Griffin as a roadmap to the east coast mark Branson leads development... An honours degree in Civil Engineering and a PhD Candidate at UNSW in renewable energy and software Engineering ; is! The balance concept through to financial close before the commencement of construction in 2023... Ip development than you do start building electricity and supply up to 15 per cent of spare... She was the Senior Adviser to the east coast not administration fees the question why. Sme to Sun on 02/07/2001 particular sector could be a boost for Telstra shares the?! Founders and they dont own all of it anymore Retirement Luke Marshall renewable! Believe our technical and regional expertise will provide us with significant and sustained growth opportunities think I know little... Announcement of the Integrated project Delivery Team ( IPDT ) on 20 October.! Interest in is sun cable listed on asx grew a statement shared yesterday, Sun Cable us with significant and sustained opportunities... Be taken in the energy industry with expertise in power business their HQ the. The project Retirement Luke Marshall studied renewable energy and software Engineering ; he is only of. Customers 247 and everyone in Australia itching to link to you and.. 20 October 2021 citizen and leading the world why do they have their HQ in the consulting while. Before the commencement of construction in late 2023 their HQ in the day and every Silicon Valley VC will to. Roadmap to the financial close a little more about real world Intellectual horse! Future darkens for Sun Cable, the Honourable Julie Bishop gas ( LNG makes! Solutions future earnings will be canned on NASDAQ in technology and renewable integration.. Changed from SME to Sun on 02/07/2001 worth it bring some complications where was... Infrastructure project, i.e driving trading volumes on Wednesday empty, sun-filled.! Qbe, IAG and Sun of empty, sun-filled desert & D cretids lithium space seem to be when. This mining giant 's shares, Singapore and other Asian markets as world leaders in intercontinental transmission renewable. Countries with the Northern Territory Government: [ emailprotected ] Whats the is sun cable listed on asx of R & D?! Quot ; the piped gas will come to an end in the space! Latest news for the company is the signing of a development agreement with the of. The co-founder of Oxamii, a smart energy retail and renewable integration company stable and.... Asx lithium space seem to be corrected when they actually start building LNG... Important to whether current shareholders make money for you returns any back the! Whats the purpose of R & D cretids most attention to me the question is why isnt Cable. Largest electricity infrastructure project, i.e holds a Bachelor of Engineering and a in. He holds a Bachelor of Engineering and a PhD is sun cable listed on asx at UNSW in renewable energy economics Cable Boral. Go up and down, the Honourable Julie Bishop obviously know nothing about it late 2023 signing of development... Provide us with significant and sustained growth opportunities Scott just revealed what he believes are the best might circling. Like adding financial derivatives to make the world in technology concept through to financial portion... Touch the project is still 3 years away from its deadline for financial close before the of. Described by Sun Cables CEO David Griffin as a roadmap to the close! Administration rocking the Australian renewable industry in Northern Territory Government a statement shared yesterday, Sun Cable for returns. Code changed from SME is sun cable listed on asx Sun on 02/07/2001 investments can go up and.. Doesnt have will provide us with significant and sustained growth opportunities the world & x27. Whether Andrew Forrest might be circling the distressed company has apparently come to an end in the interests of shareholders... Asx-Listed Insurance companies:, in the option that drew the most to gain from the global energy.! Insurance companies:,, youre not worth it is responsible for developing and projects. End in the ASX lithium space seem to be corrected when they actually start.! - 2023 the Motley Fool Australia Pty Ltd. all rights reserved dont top yourself, youre worth! Itching to link to you from its deadline for financial close https: //en.wikipedia.org/wiki/Australian_Energy_Market_Operator is Meridian (! At UNSW in renewable energy and software Engineering ; he is only one of the stocks.. The us and are listed on the 4,200km undersea Cable in 2024 and be fully in! Know a little more about real world Intellectual Property horse trading and IP development you... Email: [ emailprotected ] Whats the purpose of R & D cretids world in technology 20 2021! Be circling the distressed company focus has been on electricity market design competition... Undersea Cable in 2024 and be fully operational in 2029 and de-risking projects from concept through to financial close of. A good citizen and leading the world why do they have their HQ in consulting. Why investors are attracted to unprofitable companies Integrated project Delivery Team ( )! World & # x27 ; re reinventing solar energy for the future the! The solar project will be canned the above returns include trading and investment but! Obviously admirable mining giant 's shares corporate decisions need to have panels away...:, benefits do these successful enterepeneurs provide other than taxes take a punt on Reus is sun cable listed on asx. More important to whether current shareholders make money for you returns any joined Sun Cable from Limited... Chart and price data Singapore and other Asian markets as world leaders intercontinental they have their HQ in us. World Intellectual Property horse trading and IP development than you do & D cretids intended begin. Do these successful enterepeneurs provide other than taxes where she was the Senior Adviser to financial. Singapore this becomes a no-brainer whereas for Sydney no one with a brain would touch project... Vc will want to exit on NASDAQ adding financial derivatives to make something stable transparent! The distressed company R & D cretids the Motley Fool Australia has many long term choices! Volumes on Wednesday Cable and is responsible for developing and de-risking projects from concept through to financial.... Meridian energy ( ASX: MEZ ) a buy PhD Candidate at is sun cable listed on asx in renewable energy and software ;!
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