As part of its 2022-23 Budget, the Tasmanian Government is investing $800,000 over two years to implement the actions of the recently released Tasmanian Renewable Energy Coordination Framework.
The framework prioritises the actions necessary to coordinate the large-scale development and investment required to grow the state’s renewable energy sector sustainably over the next 20 years and reach the 2040 Tasmanian Renewable Energy Target (TRET) of 200 per cent renewable electricity.
To support further on-island energy demand and facilitate opportunities such as green hydrogen and green manufacturing Renewables, Climate and Future Industries Tasmania (ReCFIT) will launch a Register of Interest (ROI) process in June for new renewable energy and energy-intensive load projects.
The ROI is one of the key actions under the Renewable Energy Coordination Framework, and the information provided by industry will be integral to building on the existing, high level Renewable Energy Zones (REZs). These REZs have already been identified by the Australian Energy Market Operator as having excellent resource potential in Tasmania, with the building and operationalising of Tasmania’s first REZ to be announced in late 2022.
The ROI will be open to proponents of projects over 10MW and will seek key project information to support the coordination of generation with transmission and storage investment.
ReCFIT will use information provided through the ROI to align the TRET with the market for renewable energy project development in Tasmania, and support load growth through the development of a comprehensive profile of the project pipeline for the state. This will guide decisions about the optimal location and size of Tasmania’s first REZ.
There will also be action to progress major energy projects such as Marinus Link and Battery of the Nation that will help further grow the supply of clean, reliable and affordable energy.
Marinus Link will also significantly increase the telecommunications capacity and capabilities for Tasmania through the optic fibre assets that it will carry between Tasmania and Victoria.
The development of Marinus Link and the North West Transmission Developments will inject $1.5 billion dollars into the Tasmanian economy, with hundreds of jobs, and reduce emissions by 140 million tonnes of CO2 by 2050.
Marinus Link has now completed its tender pre-qualification process for the design, manufacture, and installation of its high voltage direct current cables and converter stations. This is an important step in the project to provide more certainty around the supply of key project components in light of ongoing challenges to international supply chains from COVID-19 and the war in Ukraine.
The Tasmanian Government is working with the new Australian Government to deliver on the historic agreement signed with the former Australian Government in April 2022 to deliver Marinus Link and Battery of the Nation projects. A final investment decision on Marinus Link is expected in December 2024.
