A landmark ownership deal has been signed between the Commonwealth, Victorian and Tasmanian governments to deliver the Marinus Link cable that will connect Tasmania to Victoria.
Marinus Link will deliver low-cost, reliable renewable energy to households in Tasmania, Victoria and the wider National Electricity Market. It will also create hundreds of jobs in both states.
Under the agreement, which took effect on 22 March, a new tripartite ownership will oversee delivery of the crucial project. In the new ownership model, the Commonwealth has an equity share of 49%, Victoria 33.3% and Tasmania 17.7%.
Stage 1 of Marinus Link is expected to cost in the range of $3 billion to $3.3 billion and be operational by 2030.
Marinus Link is an underground and undersea electricity cable. It will run 255 km undersea from North West Tasmania to Waratah Bay in Victoria, then a further 90 km underground to the Latrobe Valley.
