Sun Cable, the company behind the world’s biggest solar project aiming to supply up to 15 percent of Singapore’s total renewable electricity needs annually, has entered voluntary administration.
The company had been backed by two Australian billionaires, Atlassian co-founder Mike Cannon-Brookes and former CEO of Fortescue Metals Group Andrew Forrest.
In a vague media statement on Jan. 11, the solar venture said it has “made the difficult decision to enter voluntary administration.”
The move will “unlock a path forward” for Sun Cable to “access additional capital for continued development of its marque project, the Australia-Asia Power Link (AAPowerLink).
The company describes AAPowerLink on its website as the world’s largest solar energy infrastructure project, which will harness solar energy from the Northern Territory, one of the sunniest locations on Earth.
The energy will then be supplied to Darwin and Singapore 24/7 through a 5,000 km transmission system.
“The appointment followed the absence of alignment with the objectives of all shareholders,” the company said.
“Whilst funding proposals were provided, consensus on the future direction and funding structure of the company could not be achieved.”
The solar venture has appointed global advisory firm FTI Consulting as its administrator, noting that FRI will work with Sun Cable and key stakeholders to “determine appropriate next steps for the business.”
“This will likely involve a process to seek expressions of interest for either a recapitalisation or sale of the business.”
Project Well Placed For Completion
David Griffin, founder and CEO of Sun Cable, said the company has made “extraordinary progress in developing the AAPowerLink”, which “remains well placed for completion.”
He maintained that the demand for delivering “reliable, dispatchable 24/7 renewable energy” in the Northern Territory and the region has “risen materially.”
Meanwhile, Cannon-Brookes, Chair of Sun Cable, said he was confident it will “play a huge role in delivering green energy for the world, right here from Australia.”
“I fully back this ambition and the team, and look forward to supporting the company’s next chapter.”
The collapse of Sun Cable comes despite the centre-left Labor government’s push for net-zero emissions by 2050, having committed $4.7 billion (US $3.2 billion) to fund renewable energy infrastructure in New South Wales in December.
“Recently, large-scale solar generation has begun rapid expansion. Large-scale solar generation has grown from negligible levels before 2016 to four percent of all Australian electricity generation in 2021, representing a five-year growth rate of 1,747 percent,” said the government’s climate change department on its website.
In Australia, rooftop solar PV systems remained the largest full-time equivalent employer among renewable energy types.
However, the share of renewable energy jobs has declined each year since 2012, according to the Australian Bureau of Statistics.
A 2021 report by the International Energy Agency found that “relatively high investment costs, lack of dedicated auctions and competition from solar PV and battery storage projects prevent the faster expansion of concentrated solar panel.”
Expensive Transition to Renewables
While renewable energy has been touted by the government as a cheap solution for climate change, a Canadian study found that if all costs are considered, wind and solar are actually more expensive to produce electricity and such a transition would be environmentally nonviable.
“When we look at the environmental impact of our energy systems, we have to look at the entire value chain,” the first author of the study Dr. Lars Schernikau said in SAGE talks in May. Schernikau is an energy economist and commodity trader.
“There is a production of raw materials that we have to consider. There’s the processing of raw materials that we have to consider. There’s the transportation of raw materials and products that we have to consider,” he said.
“Of course, there’s the actual operation, the combustion of materials, whatever we do with the production. And then there’s the recycling. So these are the main steps where we have to consider our environmental impact.”
Schernikau said there’re non-emission issues to consider as well, such as energy efficiency, material efficiency, space requirement, waste requirement, the effect on animal and plant life, and the effect on health and safety.
“Wind and Solar have zero CO2? Why? Because during combustion, they don’t produce CO2. But when you look at the entire value chain, they produce a lot of CO2,” said Schernikau.
Harry Lee contributed to this article. Cross-posted from our premium news partners at The Epoch Times.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.