General – Interconnector Australia
Prysmian Group signed a capacity reservation agreement for a capacity reservation fee of up to approx €90 million with Marinus Link for a new power interconnector between Tasmania and Victoria, Australia.
The agreement includes Commonwealth Government underwriting the capacity reservation fee of up to approx €90 million and Prysmian Group’s continued capacity availability until the execution of the final contract within July 2024.
With an overall capacity of 750 MW, the power link will facilitate the flow of electricity between the two states, enabling an efficient transfer of power from the areas where renewable energy is generated to those where it is needed, and will help Australia meet its emissions reduction targets by saving up to 70 million tonnes of CO2 equivalent by 2050.
The contract will be negotiated and is expected to be finalised within 2024.
The capacity to manufacture the submarine cable has been reserved at Prysmian Group’s centre of excellence in Arco Felice (Italy), while for the land cables has been reserved in Delft (The Netherlands) or Gron (France). The capacity for the installation operations has been reserved with Prysmian Group’s record-setting cable-laying vessel, the Leonardo da Vinci.
