Victoria now owns a one-third share in Marinus Link. This is a new interconnector between Victoria and Tasmania. It will give Victoria access to Tasmanian hydropower.
Enabling electricity to flow between Victoria and Tasmania, Marinus Link will:
- deliver low-cost, reliable, renewable energy for Victorians and the broader National Electricity Market
- enable excess energy to be stored in Tasmania’s hydro storage and used when grid demand surpasses supply
The benefits of Marinus Link
The project involves around 250km of high-voltage direct current (HVDC) cable under the sea in Bass Strait and around 90km of underground HVDC cable in Victoria. It was identified by the Australian Energy Market Operator (AEMO) in its Integrated System Plan as a high priority project that will deliver benefits to consumers and support the network.
Economic modelling by EY shows that Marinus Link Stage 1 is expected to support around 900 Victorian jobs per year and contribute around $856 million to Victoria’s economy.
Stage 1 of Marinus Link is expected to cost between $3-$3.3 billion and be operational by as early as 2030.
The development of Marinus Link will initially focus on the first 750-megawatt cable. Negotiations on the project’s full scope will continue, with a second cable to be considered. The current single cable commitment retains almost two thirds of the benefits of the original project scope.
Ownership breakdown
Marinus Link Pty Ltd (MLPL) is now a stand-alone entity, separate from Tasmania's transmission and distribution network service provider, TasNetworks.
The Victorian Government owns 33.3 per cent of Marinus Link. The Commonwealth Government owns 49 per cent. The Tasmanian Government owns 17.7 per cent.
A new MLPL Board has been formed comprising directors from each of the three governments. Victoria’s board members are Alistair Parker (Chief Executive Officer of VicGrid) and Kate O’Sullivan (Deputy Secretary, Infrastructure at the Department Treasury and Finance).
Page last updated: 31/05/24