The Federal Government is investing $140 million in two clean energy projects, Marinus Link and the Tarraleah Hydro Power Scheme.
Marinus Link is an undersea and underground electricity interconnector between Tasmania and Victoria. The project will unlock access to up to 1,500MW of capacity from Tasmania’s existing and future hydro and wind power generators.
It is expected to bring low emission, affordable, and reliable energy to the National Energy Market (NEM).
To help steer the Marinus Link project through the planning, design and approvals, the Federal Government is investing $75 million to bring the project to a final investment decision.
The project, which involves 250km of undersea cable and 90km of underground cable in Victoria, is expected to deliver around 2,800 jobs at peak construction, and stimulate investment in hydro and wind generation.
Funding of $65 million for the Tarraleah Hydro Power Scheme will support up to 220MW peak capacity and 5GWh of stored energy.
The projects will help realise Tasmania’s Battery of the Nation initiative. The initiative is about developing a pathway for future renewable energy projects in Tasmania. The Marinus Link will carry the clean energy from the island to the mainland.
The Australian and Tasmanian governments will establish a Joint Ministerial Governance Committee and a Joint Senior Officials Governance Committee to provide strategic oversight and ensure project milestones are met.
