Economics
Australia Billionaire Eyes Renewables Boom in Northern Territory
- Grok Ventures may announce deals soon, manager Kwong-Law says
- Tech entrepreneur Cannon-Brookes is ‘completely committed’
Photographer: Norm Betts/Bloomberg
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Australian billionaire Mike Cannon-Brookes’ private investment arm is pursuing opportunities to develop renewable energy in the country’s Northern Territory as it looks to tap the region’s abundant sunshine and proximity to key Asian markets.
The territory has the makings to become a world leader in clean energy generation and export, Grok Ventures investment manager Jeremy Kwong-Law said on Thursday. He highlighted that hydrogen and solar power transmission via subsea cable are the two clearest pathways to tap the huge Asian market.