Pumped Hydro to deliver jobs and investment for Tasmania
Today’s announcement by the Federal and State Liberal Governments to advance the Battery of the Nation project to the next stage has been welcomed by the Tasmanian Liberal Senate Team as a boon for jobs and investment in the state.
The Tasmanian Liberal Senate Team has long advocated for both a second interconnector between Tasmania and the mainland and to invest in pumped hydro in Tasmania. Today’s announcement includes $56 million to advance Project Marinus, $30 million for pumped Hydro as well as the development of a new underwriting mechanism to support investment.
“This exciting project will ensure cheaper power prices, create more than 3,000 new jobs in Tasmania and unlock more than $5 billion in investment, especially in the North-West,” Senator Colbeck said.
“The Tasmanian Liberal Senate Team has strongly advocated for the Federal Government’s investment of $56 million towards a second Bass Strait interconnector along with the introduction of a new underwriting mechanism .This investment, when combined with $30 million from the State Liberal Government, will be a game changer for jobs,” Senator Colbeck said.
“The Battery of the Nation project will ensure more affordable, reliable and renewable power generation in Tasmania and ensure that Tasmania is entirely self-sufficient with electricity supply,” Senator Duniam said.
“This project will ensure that never again will Tasmania be placed in a position where businesses and families were wondering if the lights would stay on,” Senator Duniam said.
“This is just the latest in a long line of major economic reforms that has transformed our state from bankruptcy to prosperity and today’s investment, especially when combined with the City Deal from over the weekend, will ensure Tasmania’s prosperity is secured into the future,” Senator Abetz said.
“Only because the Federal and State Liberal Governments have been able to get both budgets into surplus are we now able to invest in this game-changing project for Tasmania’s future,” Senator Abetz concluded.