The Clean Energy Finance Corporation (CEFC) has helped Project Marinus – which comprises a pair of nationally significant projects – reach the financing finish line.
After committing $3.8 billion to Marinus Link in September 2025, the CEFC has contributed $1.2 billion to the North West Transmission Developments (NWTD) project, with financing coming through the Rewiring the Nation Fund.
This has enabled stage one of NWTD to reach financial close, with the project also benefiting from a $346 million grant from the Federal Government.
“Achieving financial close is a major milestone for the project and reflects years of detailed planning, collaboration and rigorous due diligence,” TasNetworks chair Roger Gill said.
“It provides the certainty required to progress confidently towards construction and we look forward to being in a position to issue notice to proceed to our head contractor Genus in the coming months.”
Gill said CEFC financing helps protect customers from “increased cost pressures”, with much of the financing achieved through other means.
While stage one of NWTD has received environmental approval from the Federal Government, the project is still navigating a Tasmanian Civil and Administrative Tribunal appeal, with such a process key to satisfying permit conditions through the Tasmanian Planning Commission.
Genus expects to commence construction on stage one of NWTD by the third quarter of 2026.
“This project is nationally significant infrastructure that will play an important role in strengthening network reliability and enabling the transition to a cleaner energy future,” Genus managing director David Riches said.
“This milestone reflects the strength of collaboration across all project partners and provides important momentum as the project progresses toward construction.”
Stage one of NWTD includes 129km of new and upgraded transmission lines, along with new substations and a switching station. The project extends from Cressy to Burnie and will connect with the Marinus Link interconnector traversing Bass Strait.
NWTD is one of many transmission projects Genus is currently undertaking, with the power and telecommunications service provider also contracted to the Hunter-Central Coast renewable energy zone in NSW, HumeLink East and the Western Renewables Link in Victoria. The company is also working on a host of renewable energy projects, such as the Merredin BESS and Reeves Plains BESS.
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