TasNetworks has reached financial close for the North West Transmission Developments (NWTD), marking the final major step before construction begins on its largest-ever infrastructure project.
The NWTD is a once-in-a-generation upgrade to the electricity transmission network that will connect Marinus Link with Tasmania’s world-class renewable energy resources. The project will include new and upgraded transmission lines, substations, and switching stations.
Project financing requirements are now complete for the NWTD Stage 1. This includes debt funding committed from the Clean Energy Finance Corporation and equity funding secured from the Tasmanian Government.
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The project has recently received approval under the Environment Protection and Biodiversity Conservation Act from the Commonwealth Government, subject to conditions.
TasNetworks chair Roger Gill said reaching financial close was a defining moment for the NWTD and for Tasmania’s energy future.
“Achieving financial close is a major milestone for the project and reflects years of detailed planning, collaboration and rigorous due diligence,” he said.
“It provides the certainty required to progress confidently toward construction and we look forward to being in a position to issue notice to proceed to our head contractor Genus in the coming months.”
Genus was awarded the contract for Stage 1 of NWTD in December 2024 and has since completed Early Contractor Involvement (ECI) works, commenced procurement of long-lead equipment and materials, and undertaken early mobilisation activities.
Early site mobilisation by Genus commenced in December 2025 is continuing, with the company recently moving into its upgraded office facility in East Devonport.
Genus currently expects the construction phase to commence in Q3 2026. Full construction will begin once the Tasmanian Planning Commission’s permit conditions have been satisfied and proceedings before the Tasmanian Civil and Administrative Tribunal have been resolved.
“This project is nationally significant infrastructure that will play an important role in strengthening network reliability and enabling the transition to a cleaner energy future,” Genus managing director David Riches said.
“This milestone reflects the strength of collaboration across all project partners and provides important momentum as the project progresses toward construction.”
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The Australian Energy Regulator approved cost recovery of $1.175 billion for the project. As a part of the financial close decision, the TasNetworks Board approved a total project cost estimate of $1.317 billion, which includes provisions for risk and contingency to support the safe and effective delivery of the project.
NWTD Stage 1 includes 129km of new and upgraded transmission lines, as well as new substations and a switching station, extending from Cressy to Burnie via Sheffield.
