Sun Cable renewables project bought by affiliate of Mike Cannon-Brookes
HONG KONG, May 26 (Reuters) - The collapsed $20-billion Sun Cable renewable energy project has been rescued by part owner and Australian technology entrepreneur Mike Cannon-Brookes, the company said on Friday.
Voluntary administrators of Sun Cable will now work with Helietta Holdings 1 Pty Ltd, an entity affiliated with Cannon-Brookes' Grok Ventures to complete the transaction, Sun Cable said in a statement.
Completion of the deal is expected to occur on or before the end of July. (Reporting by Harish Sridharan; Editing by Shailesh Kuber)