Was I right?

It was barely 6 months ago that I expressed surprise that the very ambitious plan to send electricity from Australia to Singapore via undersea cable was apparently going to go ahead.

Today, the news:

Sun Cable, the company behind a massive solar farm and power export project planned for the Northern Territory, has gone into voluntary administration.

Mind you, the reasons for this seem a bit unclear, and perhaps are not due to technology issues?:

The company, whose major investors include billionaires Mike Cannon-Brookes and Andrew "Twiggy" Forrest, provided a vague statement about why it collapsed:

"The appointment followed the absence of alignment with the objectives of all shareholders," it said. 

"Whilst funding proposals were provided, consensus on the future direction and funding structure of the company could not be achieved."

But there is this:

The ABC understands that Sun Cable's major investors, Mr Forrest and Mr Cannon-Brookes, had disagreements about the funding and direction of the company.

These included the significant amounts of cash that Sun Cable was spending, and its failure to achieve certain milestones — as required by its venture capital funding agreement.

I hope something successful arises from the financial ashes.