Cannon-Brookes plans to kill coal by 2030, invest $20b in renewables

Mark Ludlow and Elouise Fowler

Updated Feb 21, 2022 – 12.06pm, first published at 9.03am

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Atlassian co-founder Mike Cannon-Brookes has committed to shutting down AGL Energy’s remaining coal-fired power stations by 2030 if his $5 billion bid with Brookfield for Australia’s largest power company is successful.

While the AGL board has dismissed the unsolicited takeover proposal from the consortium, saying the $7.50 a share bid undervalued the company, Mr Cannon-Brookes said thee were not deterred by the knock back and will continue to engage with the board and drum up support with investors.

Mark Ludlow writes on politics, energy and infrastructure based in Brisbane.

Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office.