Australia’s transition to a cleaner and more reliable energy system has taken a major step forward, with Stage 1 of the Marinus Link project reaching its Final Investment Decision (FID).
The landmark agreement between the Commonwealth, Victorian and Tasmanian governments marks the beginning of the next phase for the 750‑megawatt undersea interconnector, which will carry more Tasmanian hydroelectricity to the mainland while improving the island state’s access to the National Electricity Market (NEM).
Stage 1 construction is set to begin in 2026 with completion slated for 2030, delivering a project that is expected to power the equivalent of 750,000 Australian homes.
Federal Minister for Climate Change and Energy Chris Bowen said the milestone reflected the federl government’s determination to convert renewable energy ambitions into action.
“Marinus Link will bring more of Tasmania’s hydroelectricity to the mainland,” Minister Bowen said.
“It will deliver an economic boost to Tasmania and wider Australian industry during construction as well as having long lasting benefits by improving the transmission of cleaner reliable renewable energy.
“The former Morrison government used to talk a lot about Marinus Link and how important it is. We’re getting on with the job and actually delivering it.
“The Albanese government is committed to delivering a clean energy future that benefits all Australians.”
According to a recent report to the Australian Energy Regulator, the Marinus Link will cut climate pollution by more than $1 billion while also reducing pressure on household energy bills.
The project is expected to underpin economic growth across regional communities in both Tasmania and Victoria, creating thousands of jobs during construction and delivering long-term benefits once operational.
Widely regarded as a cornerstone of the federal government’s energy and emissions reduction strategy, Marinus Link will enable more reliable renewable energy to flow into the grid, helping secure a fairer, cleaner and more resilient energy future for the nation.