The Voluntary Administrators of Sun Cable have commenced a sale process for the company, with MA Moelis Australia and Moelis & Company appointed as sale advisor.
Sun Cable is the developer of large-scale renewable energy infrastructure projects, including the high-profile Australia-Asia PowerLink (AAPowerLink) project.
The AAPowerLink intends to dispatch solar generated electricity from the Northern Territory to Singapore, representing the first transfer of electricity between continents.
The Administrators have secured funding to allow the continued development of Sun Cable’s development projects, whilst the sale process is undertaken. The Administrators are seeking binding proposals for the sale of Sun Cable by end of April 2023, with targeted completion no later than the end of May 2023.
Moelis will now commence a process to invite offers for sale or recapitalisation of the Company.
