Lockton, an independent insurance broker, has advised Marinus Link Pty Ltd (MLPL) in reaching Financial Close on its landmark subsea interconnector between Tasmania and mainland Australia.
The project includes high-voltage direct current (HVDC) cables, fibre optic cables, a communications station, and converter stations at each end. Once complete, Marinus Link will enhance the connection between Tasmania and the national grid.
Stage 1 of the project will deliver a 750 MW HVDC cable system, comprising 255 kilometres undersea and 90 kilometres underground. It will more than double the electricity 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 served as insurance adviser and broker for the wider project, providing guidance on insurable and non-insurable risks, identifying the parties best placed to assume or insure those risks, and ensuring alignment with project finance requirements.
Working closely with the Marinus Link team throughout the development phase, Lockton’s global energy practice provided specialist risk and insurance advice from early planning 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.”
Construction of Marinus Link is scheduled to commence in 2026, with Lockton continuing its support throughout the project’s delivery.
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