Marinus transitions to tri-government ownership

March 26th, 2024

Category: Media releases, News

The Australian, Tasmanian and Victorian governments now jointly own Marinus Link.

Marinus Link Pty Ltd (MLPL) has transitioned to three-part equity ownership between the Australian Government (49%), the Victorian Government (33.3%) and the Tasmanian Government (17.7%). 

“The new ownership arrangement is a fulfilment of government commitments to progress this nationally significant project,” said Marinus Link CEO Caroline Wykamp.

“It is further confirmation that our shareholder governments are serious about building Marinus Link for the benefit of all Australians.”

As part of the ownership changes, MLPL has separated from Tasmania’s transmission and distribution network service provider, TasNetworks, to become a stand-alone entity. Until today, MLPL was a subsidiary of TasNetworks, owned by the State of Tasmania.

“It was always planned and appropriate that Marinus Link would separate from TasNetworks, when ready,” said Ms Wykamp.

“The new ownership arrangement won’t change our important relationship with Tasmania and Tasmanians. It means we can increase our focus on Victoria and the needs of our stakeholders, landholders and communities in Gippsland.”

Marinus Link’s key activities, schedules and scope will not change as a result of the new ownership, including environmental approvals, revenue setting, tender processes and a final investment decision.

A new Board of Directors has been appointed to MLPL with nominees from each of the three governments.

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