Jacobs Appointed Integrated Delivery Partner for Marinus Link

Rhea-AI Summary

Jacobs (NYSE: J) has been selected as the Integrated Delivery Partner for Marinus Link, a significant 214-mile undersea and underground high-voltage direct current interconnector project connecting Tasmania and Victoria, Australia. The project features a 1500-megawatt capacity, sufficient to power 1.5 million Australian homes. Jacobs will oversee the first 750-megawatt stage, managing technical engineering and construction packages. The project is expected to create 3,300 jobs and generate $3.9 billion in economic growth. Listed as a priority on Australia's National Renewable Energy Priority List, Marinus Link aims to strengthen energy security and affordability by delivering low-cost renewable power and expanding transmission capacity.

Positive

• Project will create 3,300 jobs and generate $3.9 billion in economic growth
• Strategic appointment as Integrated Delivery Partner for a major infrastructure project
• Project enhances Jacobs' position in renewable energy infrastructure sector
• Contributes to company's global portfolio of major energy infrastructure projects

Negative

• None.

News Market Reaction

-0.57%

1 alert

-0.57% News Effect

On the day this news was published, J declined 0.57%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Interconnector project will accelerate Australia's renewable energy economy

Supports reliable transmission of electricity and telecommunications between Tasmania and Victoria

DALLAS, May 14, 2025 /PRNewswire/ -- Jacobs (NYSE: J) was selected as the Integrated Delivery Partner for Marinus Link, an approximately 214 mile (345-kilometer) undersea and underground high-voltage direct current (HVDC) electricity and data interconnector designed to bolster energy security, promote renewable energy investment and deliver tangible benefits to consumers in Tasmania, Victoria and the broader National Electricity Market.

Marinus Link's 1500-megawatt capacity is equal to the power supply for 1.5 million Australian homes. As the Integrated Delivery Partner, Jacobs will oversee the establishment and ongoing delivery of the first 750-megawatt stage, managing technical engineering and construction packages while implementing governance structures necessary for the high-voltage direct current cable and supporting substation infrastructure.

"Nations worldwide need reliable, affordable and low emission energy solutions," said Jacobs President of Global Operations Patrick Hill. "Jacobs, together with Marinus Link, will deliver a step-change to the Australian east coast electricity grid – increasing access to low carbon energy sources in Tasmania to support the nation's decarbonization targets. This Integrated Delivery Partnership will allow Jacobs to mobilize global experience in capital project execution, utility infrastructure enhancement, and future energy demand planning to assure delivery for this critical asset."

"Our collaboration with Jacobs is pivotal to the successful delivery of this critical national energy infrastructure," said Marinus Link CEO Designate, Stephanie McGregor. "Marinus Link is listed as a priority for decarbonization on the Australian Government's National Renewable Energy Priority List and is classified as urgent in the Australian Energy Market Operator's optimal plan for the national grid."

Marinus Link aims to strengthen energy security and affordability by delivering low-cost renewable power, expanding and strengthening transmission and fiber capacity, and driving investment in clean energy industries. It is expected to create 3,300 jobs and generate $3.9 billion in economic growth, supporting business and a resilient National Electricity Market.

Around the globe, Jacobs is advancing global energy infrastructure, shaping resilient and secure systems to form the backbone of thriving communities and economies. Projects include Suedlink in Europe, one of the world's largest underground high voltage power cables; as program manager and owners engineer for Xcel Energy's multi-billion-dollar transmission and distribution reliability program in the U.S.; and MTerra Solar in the Philippines, poised to become one of the world's largest solar farms.

At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With approximately $12 billion in annual revenue and a team of almost 45,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we're creating a more connected and sustainable world. See how at jacobs.com and connect with us on LinkedIn, Instagram, X and Facebook. 

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, uncertainties as to, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act and other legislation and executive orders related to governmental spending, including any directive to federal agencies to reduce federal spending or the size of the federal workforce, and changes in U.S. or foreign tax laws, statutes, rules, regulations or ordinances, including the impact of, and changes to tariffs and retaliatory tariffs or trade policies, that may adversely impact our future financial positions or results of operations, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, and increased uncertainty and risks, including policy risks and potential civil unrest, relating to the outcome of elections across our key markets and elevated geopolitical tension and conflicts, among others. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our filings with the U.S. Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

For press/media inquiries:
media@jacobs.com  

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/jacobs-appointed-integrated-delivery-partner-for-marinus-link-302455090.html

SOURCE Jacobs

FAQ

What is the Marinus Link project that Jacobs (NYSE: J) was appointed to manage?

Marinus Link is a 214-mile undersea and underground high-voltage direct current interconnector project connecting Tasmania and Victoria, Australia, with a 1500-megawatt capacity capable of powering 1.5 million homes.

What is Jacobs' role in the Marinus Link project?

Jacobs will serve as the Integrated Delivery Partner, overseeing the first 750-megawatt stage, managing technical engineering and construction packages, and implementing governance structures for the HVDC cable and substation infrastructure.

What is the economic impact of the Marinus Link project?

The project is expected to create 3,300 jobs and generate $3.9 billion in economic growth, while supporting business and a resilient National Electricity Market.

Why is the Marinus Link project important for Australia?

The project is listed as a priority for decarbonization on Australia's National Renewable Energy Priority List, aiming to strengthen energy security and affordability by delivering low-cost renewable power and expanding transmission capacity.