Prysmian and Marinus Link Pty have finalised a contract worth around €600m for a new power interconnector between Victoria and Tasmania, Australia.
The commencement of the works is subject to the issuance of a notice to proceed, which is expected by August 2025.
This agreement follows the prior announcement of a capacity reservation agreement, communicated in September 2023.
The project’s cables will span 345km-255km undersea across Bass Strait and 90km underground in Gippsland, Victoria, with the completion date set for 2030.
With a capacity of 750MW for the first stage, the Marinus Link will facilitate the flow of electricity and telecommunications between the two states.
This will enable 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, Prysmian said.
Prysmian will design, test, supply and install a HVDC cable system, consisting of 320kV single-core cables with XLPE insulation and single-wire armouring, covering both submarine and land sections.
Prysmian will also provide a fully integrated PRY-CAM permanent monitoring system.
Submarine cables will be produced at Prysmian’s centre of excellence in Arco Felice (Italy), while land wires will be produced in Delft (The Netherlands) or Gron (France).
Installation operations will be delivered with Prysmian’s cable-laying vessel, the Leonardo da Vinci.
Hakan Ozmen, Prysmian executive vice president for transmission said: “This project strengthens our global leadership, as well as our position in Oceania’s fast-growing renewables market.
“We are proud to support Australia in its goal to combine the benefits of renewable energy to deliver low-cost ,reliable, and clean energy to customers.”