The Victorian and Tasmanian State Governments, and the Federal Government, have officially transitioned to joint ownership of the Marinus Link project.
The three-part equity ownership is divided as 49 per cent ownership by the Federal Government, 33.3 per cent by the Victorian State Government, and 17.7 per cent by Tasmanian State Government.
Marinus Link Chief Executive Officer, Caroline Wykamp, said, “The new ownership arrangement is a fulfilment of government commitments to progress this nationally significant project.
“It is further confirmation that our shareholder governments are serious about building Marinus Link for the benefit of all Australians.”
As part of the ownership changes, Marinus Link has separated from Tasmania’s transmission and distribution network service provider, TasNetworks, to become a stand-alone entity. Marinus Link was previously a subsidiary of TasNetworks, owned by the State of Tasmania.
“It was always planned and appropriate that Marinus Link would separate from TasNetworks, when ready,” Ms Wykamp said.
“The new ownership arrangement won’t change our important relationship with Tasmania and Tasmanians. It means we can increase our focus on Victoria and the needs of our stakeholders, landholders and communities in Gippsland.”
Marinus Link’s key activities, schedules and scope will not change as a result of the new ownership, including environmental approvals, revenue setting, tender processes and a final investment decision.
A new Board of Directors has been appointed to Marinus Link with nominees from each of the three governments. Details of the new Board of Directors can be found here.
