The Premier’s Economic and Social Recovery Advisory Council Interim Report, released yesterday, acknowledges the importance of renewable energy and Marinus Link in supporting short to medium, and longer term recovery from the COVID-19 pandemic.
Under “Major Project Facilitation”, the report states:
“The second Bass Strait electricity interconnector – Project Marinus – is another major project being progressed by the State Government, with substantial financial support from the Australian Government. In July 2020, the project moved into the Design and Approvals phase, which will see the completion of activities required to achieve an investment decision and the supporting Tasmanian transmission development. The project is targeting an investment decision in the mid-2020s so the link can commence service from the late 2020s.
“As a part of its COVID-19 stimulus response, the Australian Government has identified the project as one that will have streamlined national approvals processes applied. As we move into the recovery phase from COVID-19, the urgency and priority applied to major project attraction and facilitation cannot simply return to that which existed in early 2020. Projects face tight capital markets, globally suppressed economic conditions, and increased competitive tension between jurisdictions to attract mobile capital. In this environment, the willingness of the State Government to actively engage with project proponents to find paths to bring projects to reality becomes doubly important.
“This need not mean direct funding of projects – the streamlined assessment process for Marinus by the Commonwealth is an example of how governments can take direct action to remove barriers that otherwise inhibit major projects”.
You can read the Interim Report here: http://www.premier.tas.gov.au/releases/premiers_economic_and_social_recovery_advisory_council_interim_report