Major project · Marinus Link Pty Ltd
Marinus Link
An undersea electricity link between Tasmania and Victoria, planned as two 750 MW cables. In 2023 the governments that own it agreed to build Stage 1, one cable, first. Supporting transmission in north-west Tasmania is a separate project.
- First published estimate
- $3.5bn Dec 2019
- Latest estimate
- $3.9bn Jul 2025
- Latest as a multiple of first
- 1.1× not like for like
Every published estimate
Amounts are as published, in dollars of the day, not adjusted for inflation. Each estimate links to its source and quotes the words containing the figure. How these are compiled.
| Date | Estimate | Covers | Completion | Source |
|---|---|---|---|---|
| Dec 2019 | $3.5bn | Both cables (1,500 MW) and supporting transmission in north-west Tasmania | Tasmanian second interconnector is feasible, unlocking renewable energy potential to the NEM, Australian Renewable Energy Agency (ARENA)“Marinus Link and supporting infrastructure could provide net energy market benefits to the NEM in excess of the project's estimated $3.5 billion cost over the life of the asset.” | |
| Jun 2022 | $3.8bn | Both cables and supporting transmission in north-west Tasmania | Marinus Link project update, Marinus Link Pty Ltd“the revised cost for completion of both Marinus Link and the supporting transmission developments in North West Tasmania is AUS$3.8 billion” | |
| Sep 2023 | $3.0bn–$3.3bn | Stage 1 only: one of the two cables not like for like | As close as possible to 2028 | Investing in the future of Tasmanian energy with Marinus Link, Chris Bowen, Minister for Climate Change and Energy, with the Tasmanian Government“Marinus Link's latest cost estimates indicate that stage one of the project will cost in the range of $3.0-3.3 billion” |
| Dec 2024 | $3.9bn | Stage 1 total costs | 2030 | Marinus Link construction costs undergo independent regulator assessment, Marinus Link Pty Ltd“Marinus Link's Stage 1 total costs are forecast to be $3.86 billion, an increase of approximately 17% compared to pre-tender completion estimates.” |
| Jul 2025 | $3.9bn | Stage 1 after market testing, in 2023 dollars; supporting transmission for Stage 1 a further $1.14bn not like for like | Project Marinus updates cost-benefit analysis ahead of regulatory submission, Marinus Link Pty Ltd“Marinus Link – $ 3.89 billion (real $2023) NWTD – $1.14 billion (real $2023)” |
Government funding in the 2026-27 Budget
- Marinus Link investment: $53m net paid out in 2026-27
These are loans and equity, which are not counted as expenses. Loans and investments.