A landmark ownership deal has been signed between the Victorian, Tasmanian and Federal governments, connecting the two states with a Marinus Link cable.
Marinus Link is an underground and undersea electricity cable, and stage one is expected to cost in the range of $3 billion to $3.3 billion and be operational by 2030.
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According to the new tripartite ownership deal, Commonwealth has an equity share of 49 per cent, Victoria 33.3 per cent and Tasmania 17.7 per cent.
Last year Victoria’s energy minister, Lily D’Ambrosio, said new transmission cables would have “a critical role in powering Victorian homes and businesses with renewable energy as our ageing coal-fired generators close”.
The project aims to deliver reliable and low-cost renewable energy to households in Victoria, Tasmania and the wider Australian electricity market.
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