The GenusPlus Group Ltd (ASX: GNP) share price is in focus today after the company announced it will begin construction on the first stage of the TasNetworks North West Transmission Developments project, with total works valued at around $750 million.
What did GenusPlus report?
- TasNetworks has issued a Notice to Proceed to GenusPlus for the Construction Phase of NWTD Stage 1
- Construction work is set to commence immediately and is planned for completion in 2029
- Total project value is approximately $750 million, including Early Works and Early Contractor Involvement phases ($122 million)
- The project covers essential power infrastructure in Tasmania
What else do investors need to know?
The announcement follows several earlier updates from GenusPlus about its agreements with TasNetworks, most recently on 8 May 2026. The project is a major contract win for GenusPlus and represents a significant milestone in its growth, given the scale and long-term nature of the work.
GenusPlus is set to play a central role in delivering critical infrastructure for Tasmania, aiming to create local employment and engage Tasmanian suppliers. This contract demonstrates the company’s ongoing strength in the utilities and infrastructure sector across Australia.
What did GenusPlus management say?
GenusPlus Managing Director, David Riches, said:
Genus has worked closely with TasNetworks to reach this important milestone; and with the start of construction imminent we’re proud to move into the next phase of delivering this critical infrastructure for Tasmania and Australia. We’re committed to creating opportunities for Tasmanians throughout the project, from employing local people to engaging Tasmanian business and suppliers. By combining Genus’ capability and experience with local knowledge and expertise, we can deliver lasting value for the community.
What’s next for GenusPlus?
GenusPlus will now shift focus to delivering the construction phase of the TasNetworks NWTD project, with works scheduled until 2029. The company looks set to benefit from its expanded role as an essential service provider in the power and infrastructure sector.
Investors can expect ongoing updates on project milestones and further information about GenusPlus’ strategy to collaborate with local businesses and deliver benefits to both Tasmania and broader Australia.
GenusPlus share price snapshot
Over the past 12 months, GenusPlus shares have risen 66%, outperforming the All Ordinaries Index (ASX: XAO).
The post GenusPlus gets green light for $750m TasNetworks build appeared first on The Motley Fool Australia.
Should you invest $1,000 in GenusPlus Group right now?
Before you buy GenusPlus Group shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and GenusPlus Group wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 1 August 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- Three ASX shares set to rise up to 47% – Expert
- GenusPlus Group FY26 earnings: Record results and outlook
Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended GenusPlus Group. The Motley Fool Australia has recommended GenusPlus Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.