Australia’s Multi-Billion Dollar Undersea Power Cable Hits Financial Close

Bloomberg.com · last updated September 2, 2025 – 9:09 PM

Australia reached financial close on a multibillion dollar undersea power cable project linking the mainland to renewable generation on the island state of Tasmania.

The first stage of the 345-kilometer (214-mile) Marinus Link secured A$3.8 billion ($2.5 billion) funding from the Clean Energy Finance Corporation, or 80% of its total cost, with the Commonwealth, Tasmania and Victoria to jointly fund the remainder, the company said Wednesday. Construction is due to start in 2026.

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