Questions are being raised about AI data centre developer Firmus’ plans for Tasmania, after a week in which its float has faltered and a $73.3 billion partnership has ended.
Firmus is yet to confirm a final price for its sharemarket float after bids closed today amid weaker-than-expected demand.
Its prospectus offered shares at $11, valuing the company at around $44 billion.
The company this week revealed the end of its partnership with data centre operator CDC.
It also pulled out of giving evidence to a federal parliamentary inquiry into artificial intelligence today, notifying the committee yesterday.
Firmus is building a $2 billion AI factory at St Leonards, near Launceston, which is due to start operating in early 2027.
Its 288-megawatt Bell Bay AI factory, on the former Gunns pulp mill site, was approved by the George Town Council in August. A development application has been lodged for a third site at Wesley Vale.
Firmus signed a three-year deal with government-owned retailer Aurora Energy in March for up to 104 megawatts to power its St Leonards site.
The government says the deal was set at market rates and was not subsidised.
When fully developed, the three sites are expected to need about 444 megawatts, which would make Firmus Tasmania’s largest electricity user.
Greens MP Vica Bayley said Tasmanians’ mistrust of the company was “very well placed”.
“It’s a company that clearly lacks a social licence,” he said.
Bayley said the Rockliff government had “rolled out the red carpet” for Firmus despite having no guardrails in place to assess or regulate it.
“It begs the questions, you know, what are the commitments Firmus has extracted from the government for it to be partnered up so closely,” he said.
Bayley said the company’s demand for more than 30% of Tasmania’s current energy supply had raised concerns.
He said experts were raising questions about Marinus and data centres: “You can’t have both because you’re talking about the same energy.”
Asked whether the float troubles could derail the proposed data centres, government minister Bridget Archer said the company’s affairs were “a matter for Firmus”.
“In relation to the government more generally, we of course are open to talking to anybody, any private investment that wants to do business in Tasmania,” she said.
Archer said people would be surprised if the government was not interested in talking with private operators wanting to invest in the state.
