Tasmania’s chance to energise the nation

Tasmania is well placed to harness the renewable energy market revolution, says Guy Barnett

TASMANIA has a once-in-ageneration opportunity to take advantage of our nation’s transition to renewable energy and to be at the forefront of delivering affordable, reliable, and clean energy for decades to come.

On the back of more than 100 years of our hydropower history, we are now unlocking the next wave of renewable energy development in Tasmania, driving job creation and future economic growth.

Just a few months ago we reached a historic partnership with the Australian government to take the next steps in delivering Marinus Link and Battery of the Nation to reduce the annual cost of Project Marinus for electricity customers by up to half.

And last week, we took another important step with Marinus Link going to international tender for the manufacture, construction and commissioning of the key equipment for the 1500MW undersea interconnector.

Tasmanians can be assured that we’ve always said this significant project needs to stack up for Tasmania and that will be thoroughly assessed in advance of the final investment decision in late 2024.

Already we are seeing our renewables vision drive new investment interest in our state.

The Bass Offshore Wind Energy project partnership between Nexsphere and Equinor was recently announced with potential to deliver multiple gigawatts of capacity over several stages.

The proposed $2.7bn ACEN Australia 1260MW wind farm for North-East Tasmania is another example.

The $1.7bn ABEL Energy and Iberdrola green hydrogen and green methanol project was announced for Bell Bay, subject to a final investment decision.

And there’s also the recent Efuels group HIF Global and its $1bn production plant for synthetic green fuels south of Burnie.

We have identified 25,000 GWh of potential renewable energy projects currently seeking approval and aiming to start operation by 2030, which is more than double Tasmania’s current total annual electricity consumption – that’s why it’s so important we are progressing with our plans for Renewable Energy Zones.

We need more electricity to support our growing economy. More electricity means more jobs.

At the same time, the Rockliff Liberal government hasn’t lost sight of cost-of-living pressures for all Tasmanians with innovative energy saver loan schemes in place for households and businesses to help them adopt more energy-efficient practices so they can reduce their energy use and bills, in addition to targeted relief provided for our most vulnerable Tasmanians.