From Lance Balcombe, TasNetworks CEO
TasNetworks has welcomed the release of the Australian Energy Market Operator’s (AEMO) 2020 Integrated System Plan (ISP), which confirms Marinus Link as a critical project to support a rapidly transforming National Electricity Market (NEM).
The 2020 ISP identifies investments needed for the NEM up to the year 2040.
These investments include strategically placed interconnectors, such as Marinus Link.
TasNetworks’ CEO, Lance Balcombe welcomed AEMO’s announcement.
“AEMO’s report reinforces our analysis that Marinus Link delivers benefits to customers across the NEM: supporting the energy market transition by accessing necessary large-scale and deep storage in Tasmania to increase network reliability; allowing more efficient generation sharing between Tasmania and Victoria; unlocking Tasmania’s world-class wind resources; and reducing overall generation costs,” Mr Balcombe said.
“The project will also unlock significant jobs and investment opportunity in Tasmania and Victoria, particularly in regional areas,” Mr Balcombe said.
In Tasmania, Marinus Link enables the Battery of the Nation initiative, further development of the State’s world-class wind resources and the proposed Tasmanian Renewable Energy Target.
In Victoria, the project supports significant investment and jobs, and enables clean, dispatchable ‘on demand’ energy to support Victoria’s renewable energy transition.
The 2020 ISP calls for work on Marinus Link to continue, so that the project can be ‘shovel ready’ by 2023-24, and able to be in service from the late 2020’s. The detailed timing will continue to be monitored ahead of any investment decision. Work will also continue to ensure a fair pricing outcome for electricity customers.
“The 2020 ISP is very positive, showing Marinus Link is a key and necessary part of the future grid. The ISP indicates that Marinus Link will deliver low cost, reliable and clean energy, and help balance the system as new renewable energy and storage projects come online,” Mr Balcombe said.
TasNetworks’ owners, the Tasmanian Government, has received $56 million in funding from the Australian Government to progress Marinus Link into the Design and Approvals phase, supporting the progression of early works for both 750 megawatt stages of the 1500 megawatt interconnector.
ENDS
The Marinus Link Business Case Assessment and RIT-T Project Assessment Draft Report are available to download from this website.
Media contact
Dan Sinkovits| 0417 767 124