GenusPlus Begins $750 Million TasNetworks NWTD Stage 1 Construction
GenusPlus Group has received the green light from TasNetworks to start the $750 million construction phase of the North West Transmission Developments Stage 1, with completion targeted for 2029.
- Notice to Proceed issued by TasNetworks
- Construction phase valued at circa $750 million
- Project completion scheduled for 2029
- Commitment to local employment and suppliers
- Includes $122 million Early Contractor Involvement and Early Works
TasNetworks Gives Go-Ahead for Major Tasmanian Transmission Project
GenusPlus Group Ltd (ASX:GNP) has officially entered the construction phase of the North West Transmission Developments (NWTD) Stage 1 project in Tasmania, following a Notice to Proceed issued by TasNetworks. This milestone triggers immediate commencement of works, with the entire project slated for completion in 2029.
$750 Million Contract Encompasses Early Works and Procurement
The total contract value for this critical infrastructure build is approximately $750 million, which includes prior Early Contractor Involvement (ECI) and Early Works Agreements (EWA) valued at $122 million. These early phases covered essential procurement of long-lead items and preparatory activities, setting the stage for the main construction effort.
GenusPlus Highlights Local Economic Impact and Expertise
GenusPlus Managing Director David Riches emphasised the company’s dedication to leveraging local Tasmanian expertise and resources. “We’re proud to move into the next phase of delivering this critical infrastructure for Tasmania and Australia,” Riches said. The company plans to prioritise local employment and engage Tasmanian businesses and suppliers throughout the project, aiming to create lasting community value.
Strategic Significance for GenusPlus’ Growth Trajectory
This contract win adds to GenusPlus’ expanding portfolio of large-scale infrastructure projects, complementing recent successes such as a $55 million Rio Tinto substation contract and a $110 million battery energy storage system project. The NWTD Stage 1 project represents a significant revenue stream and reinforces GenusPlus’ position in the energy transmission sector.
Completion Timeline and Next Steps
With construction underway, the project timeline extends to 2029, although the announcement does not detail interim milestones or risk contingencies. Investors will be watching how the company manages execution risks and local engagement as it progresses through this multi-year build phase.
Bottom Line?
GenusPlus’ transition from planning to construction on the NWTD project marks a pivotal step, but the long timeline and scale mean execution will be critical to delivering promised value.
Questions in the middle?
- How will GenusPlus manage execution risks across a multi-year construction timeline?
- What tangible benefits will local Tasmanian communities and suppliers realise from this project?
- Will interim project milestones or financial guidance be disclosed as construction progresses?
