Today, a Memorandum of Understanding (MOU) between the federal and Tasmanian governments was announced that outlines a shared path forward and further certainty for progressing Marinus Link, the new 1500MW interconnector between Tasmania and mainland Australia, and the Cethana pumped hydro and hydropower upgrade opportunities in the existing portfolio that form the Battery of the Nation.
Under the agreement, the governments will work closely to deliver Battery of the Nation and Marinus Link projects to better connect Tasmania with mainland Australia and the NEM, while improving energy security, keeping prices low and reducing emissions.
Key components of the Tasmanian State Energy and Emissions Reduction Deal include:
– The Morrison Government will contribute a further $93.9 million as part of the agreement for the Marinus link project;
– The creation of a joint special purpose corporate vehicle (62.5 per cent shares to Commonwealth & 37.5 per cent shares to Tasmania) that will progress the Marinus Link transmission through to a Final Investment Decision; and
– The agreement as part of the Morrison Government’s Underwriting New Generation Investments (UNGI) program to a scoping and development process for underwriting the first Battery of the Nation pumped hydro site that will provide additional dispatchable electricity and energy storage to the mainland.
Image: Lake Cethana
