A renewable energy project touted as an essential part of the plan to make Tasmania the “battery of the nation” and boost energy security on the mainland has been scaled back after a multibillion-dollar cost blowout.
He said the single cable would deliver about two-thirds of the benefits that would have come from having two cables, and that it would boost energy security on both sides of the Tasman Sea by backing up Tasmania’s renewable generation in the darker months of winter and filling gaps on the eastern seaboard.
The additional commitment is worth about $76 million, bringing the federal government’s total contribution to $1.6 billion. Those funds will be sourced from the $20 billion Rewiring the Nation fund for new electricity transmission projects.
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