23 April 2020
From Lance Balcombe – TasNetworks CEO
Tasmania can become the Battery of the Nation by providing cost-competitive deep storage, according to new white paper analysis released this week by Hydro Tasmania.
The new report supports the findings of TasNetworks’ Marinus Link Business Case, released last year, which demonstrated Marinus Link and the supporting transmission developments in Tasmania provide benefits: unlocking Tasmania’s abundant renewable energy generation and deep storage potential.
In response to the Hydro Tasmania white paper, TasNetworks CEO Lance Balcombe said Marinus Link and Battery of the Nation are part of the lowest cost solution to the National Electricity Market (NEM), by providing dispatchable, abundant clean energy – where it’s needed and when it’s needed.
“Deep storage and flexible generation is essential to support increases in variable wind and solar generation that is occurring across the country,” Mr Balcombe said.
“Marinus Link and Battery of the Nation collectively present a huge opportunity to harness the increasing levels of renewable generation in Tasmania and Victoria.”
Marinus Link, and its supporting development in North West Tasmania and regional Victoria, will also offer a valuable opportunity to stimulate jobs and investment in these challenging times.
“The projects can create billions in economic growth, thousands of jobs, and be a catalyst of skills and local content development in Tasmania and regional Victoria,” Mr Balcombe said.
“Marinus Link unlocks a pipeline of investment in renewable energy and long-duration energy storage with an estimated value of up to $5.7 billion and 2,350 jobs – which includes Hydro Tasmania’s Battery of the Nation initiative.”
Marinus Link has progressed into the ‘Design and Approvals’ phase, thanks to $56 million in funding provided by the Australian Government, with an aim to be ‘shovel ready’ by the mid-2020s – an objective supported in the draft 2020 Integrated System Plan prepared by the Australian Energy Market Operator (AEMO).
ENDS
Media contact
Dan Sinkovits | 0417 767 124
daniel.sinkovits@tasnetworks.com.au