AGL is a nearly 200-year-old energy giant, which alone accounts for 8 percent of Australia’s emissions. Among other things, the company has large and polluting coal-fired power plants.
Cannon-Brookes has tried to take over the company to redirect it towards solar and wind power, but both veterans in AGL’s management and the previous right-wing government rejected those plans.
Instead, AGL would be divided into two, of which one part would continue to invest in coal power, it was said.
But after Australia’s parliamentary elections this week, where the right and the coal friends lost, new winds are blowing. The old AGL directors throw in the towel.
“Wow. An incredibly big day for Australia”, tweets Cannon-Brookeswhich is already involved in several of the country’s largest green energy projects.
However, he has only managed to buy just over 10 percent of AGL on the open market, so he needs help and support from others if the plans for that company are to go awry.