Why is a tech billionaire trying to buy Australia’s dirtiest energy company AGL?
by Adam Morton and Peter Hannam from on (#5WC3W)
Mike Cannon-Brookes believes backing renewable energy over old coal power plants will keep electricity prices down, create jobs and slash emissions - is he right?
It is, by any measure, an extraordinary intervention in Australia's rapidly evolving electricity market. A consortium worth hundreds of billions of dollars on Saturday lodged a formal offer to buy AGL Energy - the country's biggest greenhouse gas emitter - for just short of 5% above the closing share price on Friday.
Continue reading...