Prysmian wins €600m deal for Australia's Marinus Link subsea project

Prysmian has received the notice to proceed for the Marinus Link project, a new undersea power and telecommunications interconnector between Victoria and Tasmania, Australia. The announcement follows the initial contract signature with Marinus Link in August 2024. Following the notice, the project will now officially enter into Prysmian’s backlog.

The contract is valued at around €600 million ($654 million). The project’s cables will span 345 kilometres, with the completion date set for 2030. With a capacity of 750 MW for its first stage, the Marinus Link is designed to facilitate the flow of electricity between the two states.

The stated goal of the project is to enable an efficient transfer of power from areas where renewable energy is generated to where it is needed, which will help Australia meet the local emissions reduction targets set by the Australian Government.

Under the contract, Prysmian will design, test, supply, and install a high voltage direct current (HVDC) cable system. The system consists of 320 kV single-core cables with XLPE insulation, covering both submarine and land sections. Prysmian will also provide a fully integrated permanent monitoring system for the interconnector.