Lockton, the world’s largest privately owned insurance brokerage, is proud to have advised Marinus Link Pty Ltd (MLPL) in reaching Financial Close on its critical subsea interconnector between Tasmania and mainland Australia - a major milestone that paves the way for construction of one of the nation’s most significant clean energy projects.
As insurance adviser and broker for the wider Marinus Link project, Lockton provided guidance on insurable and non-insurable risks, identifying the parties best placed to assume and/or insure these risks while meeting project finance requirements.
Stage 1 of Marinus Link project (opens a new window) will deliver a 750 MW high-voltage direct current (HVDC) cable system, comprising 255 kilometres undersea and 90 kilometres underground. Once completed, the project will more than double the electrical transfer capacity between Tasmania and Victoria, unlocking Tasmania’s “Battery of the Nation” potential, supporting new renewable generation, and strengthening energy security across states.
Lockton worked closely with the Marinus Link team throughout the development phase. Drawing on the expertise of its global energy practice, the firm provided specialist risk and insurance advice from the earliest planning stages through to Financial Close.
Alistair Williams, National Manager – Energy Construction at Lockton, said:
“Reaching Financial Close on a project of this scale is a landmark moment for Australia’s energy transition. We are proud to have supported Marinus Link with specialist risk and insurance expertise, helping deliver a bankable insurance program that underpinned the project’s success. We look forward to continuing this partnership through the delivery phase.”
Insurance plays a critical role in underpinning major energy and infrastructure projects, particularly those subject to project finance.
Construction of Marinus Link is scheduled to commence in 2026, with Lockton continuing to support the project through delivery - reinforcing its commitment to transformative infrastructure that drives clean growth and energy resilience.
About Marinus Link
Marinus Link is a proposed undersea and underground electricity and data interconnector between North West Tasmania and the Latrobe Valley in Victoria.
The project includes high voltage direct current (HVDC) cables, fibre optic cables, a communications station, and converter stations at each end. Marinus Link will improve the connection between Tasmania and the national grid.
Marinus Link’s 1500-megawatt (MW) capacity is equal to the power supply for 1.5 million Australian homes and approximately three times the capacity of the existing Tasmania to Victoria interconnector, Basslink.
Marinus Link Pty Ltd (MLPL) is jointly owned by the Australian, Tasmanian and Victorian governments. MLPL is responsible for progressing the Marinus Link interconnector project.
To view the previous press release regarding the Marinus Link project, click here (opens a new window).
The contents of this publication are provided for general information only. Lockton arranges the insurance and is not the insurer. While the content contributors have taken reasonable care in compiling the information presented, we do not warrant that the information is correct. The contents of this publication are not intended as a legal commentary or advice and should not be relied on in that way. It is not intended to be interpreted as advice on which you should rely and may not necessarily be suitable for you. You must obtain professional or specialist advice before taking, or refraining from, any action based on the content in this publication.
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