Prysmian and Marinus Link Pty Ltd have finalised an around €600 million (just over $1bn AUD) contract for a new power interconnector between Victoria and Tasmania – to be installed with the former company’s ‘Leonardo Da Vinci’ cabling vessel. Photo: Prysmian.
Tasmanian Energy and Renewables Minister Nick Duigan has welcomed the beginning of the Marinus Link’s Stage 1, following the signing of a $1 billion major contract with Prysmian PowerLink.
The Italian company will design, manufacture, supply and install the first stage of the project’s high-voltage 750-megawatt direct current (HVDC) cables between Tasmania and Victoria. Marinus Link Pty Ltd, who signed the agreement, is owned by the Australian, Victorian and Tasmanian Governments and is responsible for progressing the Marinus Link interconnector project.
Minister Duigan said this deal would result in lower electricity prices, unlock more than $1.3 billion in economic activity and create 1400 jobs in Tasmania.
“The Tasmanian Government was comforted by the fact contracts for the cable and converter station have been locked in and the commitment from Marinus Link that the construction schedule, and the expected completion date of 2030, are unchanged,” said Minister Duigan. “The Marinus Link Pty Ltd Board has also now advised that the Final Investment Decision (FID) is now proposed for May 2025.”
He said the government would follow through on its commitment to present a whole-of-state business case for publication before FID.
“We have always said we will only support this project going ahead if the benefits for Tasmania stack up and the best way to ensure a sound decision is made in Tasmania’s interest is to ensure Marinus Link Pty Ltd presents robust and comprehensive information to enable confidence in a final decision.”
Marinus Link is a cornerstone project of the Australian Government’s Rewiring the Nation Plan and is classified as urgent in the Australian Energy Market Operator’s national energy plan.
The project’s cables span 345 km, including 255 km of undersea cables across Bass Strait and 90 km of underground cables in Gippsland, Victoria.
Marinus Link CEO Caroline Wykamp said the Italian company was the largest cable manufacturer in the world.
“Prysmian has proven and global expertise in delivering projects like Marinus Link,” said Ms Wykamp. “We have booked their most advanced cabling vessel – the Leonardo Da Vinci.
“Marinus Link will enable Tasmania to import excess supply of solar and wind produced interstate, while reserving its hydro and storing the extra energy. Clean hydropower can then feed the national grid when it is needed most, acting as a large battery for the nation.”
According to Prysmian, the commencement of the works is subject to the issuance of a notice to proceed, which is expected by August next year. The first stage will have a capacity of 750 MW, enabling the Marinus Link to facilitate the flow of electricity and telecommunications between the two states.
It is expected to provide an efficient transfer of power from the areas where renewable energy is generated to those who need it. There’s also hope it will help Australia meet its emissions reduction targets by saving up to 70 million tonnes of CO2 equivalent by 2050.
The HVDC cable system consists of 320 kV single-core cables with XLPE insulation and single-wire armouring, covering both submarine and land sections. Prysmian confirms it will also provide a fully integrated PRY-CAM permanent monitoring system.
Submarine cables will be produced at Prysmian’s centre of excellence in Arco Felice (Italy), while land cables will be produced in Delft (The Netherlands) or Gron (France).
