The Northern Territory Government welcomes FTI Consulting’s announcement that a consortium led by Grok Ventures has been successful in the bid process.
The Grok Ventures-led consortium has entered into an Asset Sale Agreement to acquire substantially all of Sun Cable Pty Ltd (Administrators Appointed) assets, including shares in all of Sun Cable’s subsidiaries.
Our engagement with the Administrators during the voluntary administration process has been productive and we look forward to working with them and the Grok Ventures-led consortium to complete the transaction.
The Territory Government’s primary focus is on the Australia-Asia PowerLink project having a pathway to completion.
The Project has capacity to deliver a significant amount of renewable energy for the Territory and establish it as a low-emissions, green industrial and manufacturing hub.
Quotes attributable to Chief Minister, Natasha Fyles:
“We look forward to working with Grok Ventures and its partner Quinbrook Infrastructure Partners to ensure the best possible outcome for the Northern Territory.
With greater clarity over the Project’s direction, the Territory Labor Government is committed to successfully completing the project for the benefit of our community and local suppliers, and securing ample supply of renewable power for the Territory.
The Australia-Asia Power Link continues to maintain its Major Project Status, and we recognise the significance of this project for the Northern Territory and our region.”
Northern Territory Government
