Project Marinus Initial Feasibility

Project Marinus Initial Feasibility

Initial Feasibility Report February 2019 This document has been prepared by Tasmanian Networks Pty Ltd, ABN 24 167 357 299 (hereafter referred to as "TasNetworks"). Enquiries regarding this document should be addressed to: Bess Clark General Manager Project Marinus PO Box 606 Moonah TAS 7009 Email: [email protected] Page 2 of 171 Table of Contents Executive Summary .......................................................................................................................................... 8 Context............................................................................................................................................................. 11 Initial Feasibility study findings .................................................................................................................... 13 Technical Feasibility ....................................................................................................................................... 13 Environmental and planning approvals ....................................................................................................... 13 Route options .................................................................................................................................................. 14 Economic assessment ................................................................................................................................... 15 Project cost recovery ..................................................................................................................................... 16 Stakeholder and community engagement ................................................................................................... 17 Next steps ........................................................................................................................................................ 18 1. Introduction ........................................................................................................................................... 19 1.1. Australia’s evolving power systems ........................................................................................ 21 1.2. Addressing the energy trilemma ............................................................................................. 26 1.3. TasNetworks’ role ................................................................................................................... 29 1.4. ARENA’s role .......................................................................................................................... 30 1.5. Knowledge sharing ................................................................................................................. 30 1.6. Interconnector experience ...................................................................................................... 30 1.7. Bass Strait interconnector studies .......................................................................................... 32 1.8. The Initial Feasibility Report .................................................................................................... 33 2. Approach, assumption and methodology ......................................................................................... 35 2.1. Initial Feasibility Report ........................................................................................................... 35 2.2. Final Feasibility and Business Case Assessment .................................................................. 36 2.3. Full project scope .................................................................................................................... 38 2.4. Feasibility Assessment Methodology ...................................................................................... 39 2.5. Technical assessment – power system integration ................................................................ 40 Page 3 of 171 2.6. Technical assessment – interconnector ................................................................................. 41 2.7. Route selection ....................................................................................................................... 42 2.8. Economic feasibility assessment ............................................................................................ 42 2.8.1. Economic assessment through cost-benefit analysis ............................................................. 43 2.8.2. RIT-T assessment process ..................................................................................................... 44 2.8.3. Assessment of energy market net benefits ............................................................................. 45 2.8.4. Assessment of other impacts .................................................................................................. 46 2.9. Commercial and financial analysis.......................................................................................... 46 2.10. Stakeholder and community engagement .............................................................................. 48 3. Technical feasibility of the Project ..................................................................................................... 49 3.1. Technical requirements of the future power system ............................................................... 50 3.1.1. Dispatchable on-demand energy requirements ...................................................................... 50 3.1.2. System strength ...................................................................................................................... 51 3.1.3. Inertia ...................................................................................................................................... 51 3.1.4. Voltage control ........................................................................................................................ 51 3.1.5. Real time simulations .............................................................................................................. 52 3.2. Technological feasibility .......................................................................................................... 52 3.2.1. Interconnector capacity ........................................................................................................... 53 3.2.2. HVAC vs HVDC interconnection ............................................................................................. 54 3.2.3. Converter technology .............................................................................................................. 55 3.2.4. Cable insulation technology .................................................................................................... 57 3.2.5. Interconnector topology configurations ................................................................................... 59 3.2.6. Operations in parallel with Basslink ........................................................................................ 63 3.2.7. Manufacturer engagement ...................................................................................................... 63 3.3. Next steps ............................................................................................................................... 63 4. Route selection ..................................................................................................................................... 65 4.1. Potential route options ............................................................................................................ 67 4.2. Shortlisting of potential routes ................................................................................................. 69 Page 4 of 171 4.2.1. Consideration of cost .............................................................................................................. 69 4.2.2. Environmental and social criteria ............................................................................................ 70 4.2.3. Design and constructability considerations ............................................................................. 70 4.2.4. Network considerations ........................................................................................................... 70 4.3. Favourable routes ................................................................................................................... 76 4.4. Preserving corridors ................................................................................................................ 77 4.5. Next steps ............................................................................................................................... 78 5. Environmental and planning approvals and land assembly ........................................................... 79 5.1. Likely approval requirements .................................................................................................. 79 5.2. Land assembly ........................................................................................................................ 81 5.3. Next steps ............................................................................................................................... 81 6. Economic feasibility of the Project ..................................................................................................... 83 6.1. Methodology ...........................................................................................................................

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