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SYDNEY (Reuters) - The sale of the collapsed $20 billion Sun Cable renewable energy project will include what would be the world's longest undersea cable in a deal that has attracted multiple bids, the company's administrator said on Wednesday. | 11:37pm
There’s at least one external bidder squaring off against Sun Cable’s billionaire backers, as MA Moelis and FTI Consulting collect first round of bids.
Mike Cannon-Brookes and Andrew Forrest are now racing against offshore and domestic institutional investors to nab the mammoth renewable solar energy project.
Andrew Forrest’s Squadron Energy has been buying out creditors of Sun Cable and is now in a position to control any creditor votes.
Multiple parties have submitted initial bids for the proposed $35 billion Sun Cable mega-project that was forced into administration in January.