The next generation of Tasmania's energy infrastructure continues to power forward with another major milestone completed.
TasNetworks has reached financial close for the North West Transmission Developments, taking us another step closer to delivering Project Marinus.
The decision by TasNetworks locks in the funding and provides certainty for the project to move towards construction later in 2026 once all regulatory and approval processes are finalised.
Minister for Energy and Renewables, Nick Duigan, said the NWTD and Marinus Link were central to underpinning our energy future.
"Our Government is getting on with the job of delivering the infrastructure Tasmania needs now and into the future," Minister Duigan said.
"In times of global uncertainty, it's more important than ever to be investing in Tasmania's renewable energy.
"The Financial Close milestone is a significant achievement and brings us closer to realising the benefits of Project Marinus.
"Project Marinus will deliver lower power prices than without it, create more than 2,000 jobs in Tasmania, generate huge economic stimulus, adding an estimated $470 million to the State's bottom line while delivering intergenerational energy infrastructure.
"We've secured highly concessional arrangements for Project Marinus which protects Tasmanian customer bills while unlocking the project benefits. We're also shielding our crucial Major Industrial customers from the costs of Project Marinus, protecting local industry and jobs.
"This milestone sends a clear signal that Tasmania is continuing to invest in its energy future, supporting jobs, regional communities and long-term economic growth."
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