Cannon-Brookes intensifies green energy push to lower power prices and cash-in on AI

The Atlassian billionaire says Australia should have the cheapest energy prices in the world and called for more renewable projects, saying ‘constraining power’ was ‘madness’.

Mike Cannon-Brookes says Australia should have the cheapest energy prices in the world.

Atlassian billionaire Mike Cannon-Brookes wants more renewable energy developments to take pressure off electricity prices and to ensure Australia gets its fair slice of the artificial intelligence boom, saying to “constrain power” was “madness”.

The Australian Energy Market Operator has expressed doubts that batteries or grid-forming inverters are enough to provide grid security and resilience.

The Nationals, meanwhile, are aggressively pushing ahead with an argument that nuclear power is the only way to achieve net zero, citing the Liberals’ retreat from atomic energy as a cause for tearing up the coalition agreement.

But Mr Cannon-Brookes, who is the biggest shareholder in AGL Energy through his private investment interests, was adamant that renewables could support Australia’s energy transition, saying data centres that power AI were using more solar, wind, batteries and other forms of green energy and storage.

AirTrunk founder and CEO Robin Khuda. Photo: Nic Walker

He’s not alone. Robin Khuda, who runs Australia’s most valuable group of data centres has advocated renewable energy as a cheaper option than nuclear power.

“Should Australia have the lowest cost of power? Yes. Will data centres help us get there? Yes,” Mr Cannon-Brookes said.

“AI will be one of the biggest drivers of data centre growth. So it’s a supply, demand issue. If you let the market forces take care of it, we will build more renewables as the cheapest form of power.”

Mr Cannon-Brookes has also called on the NSW government to step up its commitment to Sydney’s Tech Central precinct in next month’s state budget, saying the $1.4bn development was at risk of “drifting”.

Atlassian is building a new 40-storey headquarters at the new tech district beside Sydney’s Central Station, which is also home to Afterpay owner Block, Canva, Safety Culture and Rokt.

Mr Cannon-Brookes said the six square kilometres precinct could become a “global hub” for innovation but the NSW government needed to support surrounding infrastructure - like plazas and progress with rezoning land to make the development thrive.

Atlassian is building a new headquarters at Sydney’s Central Station.

Tech Central has been a decade in the making and Atlassian is expected to move into its new headquarters in 2027, becoming an anchor tenant. But Mr Cannon-Brookes said more needed to be done to encourage a community, create jobs and attract talent.

“You need the industry around other building owners, other areas,” Mr Cannon-Brookes said.

“We’re on the cusp of something pretty amazing, and … right now, we need certainty - on the vision, and on the planning. That’s what unlocks investment, talent, and jobs of the future.”

Mr Cannon-Brookes, who was speaking at an Australian British Chamber of Commerce event in Sydney on Wednesday, said if the government and industry “get Tech Central right”, it would cement Sydney’s place as a global tech hub.

“But we can’t afford to drift. The window to get this right is open now.

“We’ve got world-class universities, top-tier talent, and global companies already calling this district home... The foundations are strong, and the government has taken important early steps. What’s needed now is momentum - a clear, coordinated plan to turn the vision into reality.

“This isn’t about one company or one building - it’s about creating an ecosystem that can power Australia’s future. We’re proud to play a part, but now’s the time to lock in the vision and the plan to make it real. The government’s shown intent, and we’re hopeful the upcoming budget brings the clarity and commitment needed to move forward.”

The NSW government announced a new plan to support the six square kilometre district bordered by Haymarket, Camperdown and South Eveleigh earlier this year to include housing, transport links and “vibrant dining and entertainment options”.

But Mr Cannon-Brookes said: “Blueprints are great. Wonderful. But what are you going to do? What we need is action”.

NSW Minister for Planning and Public Spaces Paul Scully said the government had “inherited” a planning system that was “as confused as it was confusing”.

“We’re working to fix that,” Mr Scully said.

“The planning system needs to better understand what the innovation sector needs to have support, and we need the flexibility to bring in those new and emerging sectors.

“The other thing the planning system needs to do is make sure that we not only have the commercial space, but we also have other housing that allows people to be attracted and retained in and around Sydney.”