Cannon-Brookes declares ‘big ideas’ for AGL’s future | NickToscano1
Billionaire Mike Cannon-Brookes has declared he has big ideas for the future of AGL, as analysts suggest he may seek to steer the energy giant towards aggregating solar power generated on millions of Australian homes following his successful campaign to block its demerger.
On Tuesday, investment bank UBS said it believed Grok saw “considerable value” in AGL’s underlying business as a platform to develop new distributed-energy products that could orchestrate power generated from rooftop solar panels and stored in household batteries and aggregate it onto a new “scalable trading platform”.
Cannon-Brookes, who is pushing to have two nominees to AGL’s board, said the clean-energy revolution and electrification of the economy presented significant and exciting opportunities for AGL. He is expected to meet this week with chairman Peter Botten and board member Vanessa Sullivan.“As the largest shareholder we have a lot of ideas on the business,” he said. “We will continue to be constructively engaged with the co-chairs of the strategic review.
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