Prime Minister Anthony Albanese has showcased Tasmania’s renewable energy potential on the world stage, highlighting the island’s role in Australia’s clean energy transition.
Speaking at the New York Times Climate Forward event in New York, Albanese pointed to Tasmania’s impressive renewable credentials as he outlined the government’s emission reduction targets.
“Across different states, Tasmania is a bit different. They are over 100% renewables,” Albanese said.
“What we’re doing there, because they have access to hydro and also renewables, is we’re building essentially a cable to Victoria, which will help power the north island or the ‘mainland’ from Tasmania,” he said.
“They’re looking at reaching 200% [renewables].”
The comments follow a major milestone for the project earlier this month, with the Clean Energy Finance Corporation (CEFC) committing a record $3.8 billion in financing for the interconnector.
The landmark investment has enabled Marinus Link Pty Ltd to achieve financial close and proceed with cable and converter contracts.
The underwater and underground cable network will connect north-west Tasmania with Victoria’s Latrobe Valley, allowing two-way electricity exchange between Tasmania’s hydropower and wind developments with renewable energy generated in Victoria and NSW.
The project will have a total capacity of 1,500 megawatts – enough to power 1.5 million Australian homes.
Marinus Link CEO Stephanie McGregor described the development as a major landmark for the project.
“Marinus Link Stage 1 is now fully funded, we have key Commonwealth and Victorian environmental approvals, a draft regulatory decision and almost all major contracts in place,” McGregor said.
The interconnector will also include a fiber-optic cable providing a 150x boost in internet capacity from Tasmania to the mainland.
Construction is expected to begin in 2026, with the project jointly owned by the Commonwealth and Tasmanian and Victorian state governments.
