Financial go for first stage of Australian 1.5 GW interconnector

August 4, 2025, by Nadja Skopljak

Marinus Link, a 1.5 GW, 345-kilometer power interconnector project in Australia, has reached the final investment decision (FID) to proceed with the project’s first stage.

The project, to be built in two 750 MW stages, will link North West Tasmania and the Latrobe Valley in Victoria, with 255 kilometres running undersea across Australia’s Bass Strait.

According to Marinus Link Pty Ltd (MLPL), jointly owned by the Commonwealth of Australia (49%), the State of Tasmania (17.7%) and the State of Victoria (33.3%), the FID decision, announced on August 1, confirms that there is a sound financial and economic investment case for proceeding with the construction phase of Stage 1, based on an assessment of forecast costs, revenue, associated benefits, and risks.

Stage 1 is scheduled for completion by 2030.

“The coming together of three jurisdictions demonstrates Marinus Link’s truly national significance and benefit across the National Electricity Market, as well as directly to communities in Tasmania and Victoria. This marks our shareholders’ green light for the Marinus Link project,” said MLPL CEO Stephanie McGregor.

“MLPL would like to thank the many community members, organisations, and industry and business leaders who have openly engaged with our organisation and people throughout this journey. We will continue to engage regularly with the communities and landholders along the project alignment before construction commences, which is planned for 2026.”

Furthermore, it was just reported that Marinus Link had been approved under Commonwealth environmental legislation, setting out environmental-related conditions for the project’s construction, operation and decommissioning.

The approval was granted under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act), Australia’s national environmental law that ensures internationally and nationally important plants, animals, habitats and places, and the Australian marine area is adequately protected and managed.

In May, Marinus Link also received a positive assessment of its environmental effects under Victorian legislation. Final primary approvals under Tasmanian legislation are expected in late 2025.

“Our team has completed extensive investigations and surveys to assess the project’s impact in line with guidelines issued by the department. The process included a public exhibition period, where submissions from the community and stakeholders fed into the conditions of our approval,” McGregor said.

“We’re confident the conditions adequately ensure any impact on protected matters and the marine environment is appropriately minimised.”

Italy’s cable giant Prysmian will design, test, supply and install the high voltage direct current (HVDC) cable system for Marinus Link, while ABL was recently appointed to deliver marine warranty survey (MWS) services.