The CEFC has committed $1.2 billion from the Rewiring the Nation Fund to help TasNetworks deliver stage one of the North West Transmission Developments (NWTD) project at significantly lower cost to consumers.
The low‑cost, long‑term financing, combined with TasNetworks' lower‑returning equity, is forecast to reduce network charges paid by consumers for the project by around 55 per cent over the life of the project, compared with standard regulatory settings. This equates to an estimated $315m in benefits to Tasmanian electricity consumers in the first five years of operation.
NWTD is a key part of Project Marinus and Australia's transition to a low carbon future. Along with Marinus Link, NWTD will increase electricity capacity between Tasmania and the mainland, boosting the state's access to lower cost mainland solar electricity, and improving its electricity security and reliability.
The CEFC finance is fundamental to delivering this infrastructure in a way that would not have been possible through commercial financing alone. Their investment provides a prudent funding structure that supports long‑term network investment in the state while protecting customers from increased cost pressures.Richie Sheather
TasNetworks NWTD Project Director
In addition, it will help share Tasmania's abundant renewable energy, integrating both renewable and dispatchable energy into the National Electricity Market (NEM).
The commitment follows the August 2025 investment in Marinus Link by the CEFC and helps complete the financing required for Project Marinus.
TasNetworks will use the CEFC finance to upgrade more than 130km of the transmission infrastructure needed to connect the Marinus Link landing point at Heybridge into Tasmania's transmission network. This includes new and upgraded substations and associated grid infrastructure required to manage power flows, maintain system stability and integrate both renewable and dispatchable generation into the broader NEM.
CEFC Chief Executive Ian Learmonth said: "Our ability to provide long-term concessional finance, alongside the Tasmanian Government, lowers the overall cost of capital, and delivers an estimated $315 million in benefits to Tasmanian electricity consumers in the first five years.
"Linking Tasmania's hydro resources with mainland demand helps move renewable energy where it's needed most, boosting grid reliability and supporting the clean energy transition, and contributes to strengthening system resilience across the national market."
TasNetworks Chair, Roger Gill said: "The CEFC finance is fundamental to delivering this infrastructure in a way that would not have been possible through commercial financing alone. Their investment provides a prudent funding structure that supports long‑term network investment in the state while protecting customers from increased cost pressures."
The CEFC is financing Australia's clean energy transition via the Rewiring the Nation Fund, with commitments to the nation's most significant transmission infrastructure projects.
These include the HumeLink transmission project linking the Greater Sydney electricity load centre with the Snowy Mountains Hydroelectric Scheme, and the Central-West Orana Renewable Energy Zone .
The CEFC has financed early works for VNI West, to help connect the Victorian and NSW energy grids with clean energy generated in renewable energy zones.
It has also supported the generation of the clean energy required to power the transition and support the grid, financing more than 5GW of renewable energy and four large-scale batteries: the Victorian Big Battery , Hornsdale Power Reserve expansion, Capital Battery , and the Waratah Super Battery .
