Rio Tinto signs Australia’s biggest renewable power deal as it works to repower its Gladstone operations
The agreement, which follows the announcement last month of a PPA for the Upper Calliope solar farm in
Under the new PPA with
The remaining 20% of the project’s generated electricity will supply Australia’s National Electricity Market, delivering clean electricity to homes and businesses.
The PPA is the second renewable power deal signed for Rio Tinto’s Gladstone operations, after the recent agreement signed with European Energy to drive development of the 1.1GW Upper Calliope solar farm.
Once developed, the combined 2.2GW of renewable PPAs with
The Bungaban PPA will bring more renewable power into one of Australia’s most important industrial hubs and marks another step towards Rio Tinto’s climate goal of halving its global Scope 1 & 2 carbon emissions this decade. If combined with more renewable power and suitable firming, transmission, and industrial policy, the Bungaban and Upper Calliope PPAs could also provide the core of a solution to repower Rio Tinto’s three Gladstone production assets.
“The task remains challenging, but we have a pathway to provide the competitive, firmed power our Gladstone plants need and we are continuing to work hard with all stakeholders, including the
“Competitive capacity, firming, and transmission, are critical to developing a modern energy system that can ensure more large-scale renewables development in
Once approved, construction of the Bungaban project is targeted to start in late 2025 and is expected to produce electricity by 2029, employ up to 600 people during construction and support up to 30 permanent jobs when operating.
“Windlab is very proud to be partnering with
“This agreement highlights the importance of large-scale renewable energy projects in shoring up Queensland’s powerhouse traditional industries, particularly minerals and advanced processing, which employ thousands of people in regional communities across the state and have a key role to play in our nation’s low-carbon future.
“Bungaban is a key transition opportunity that will create up to 600 new
“The project can be responsibly developed, grid connected and producing enough energy to power the equivalent of 740,000
View source version on businesswire.com: https://www.businesswire.com/news/home/20240220665071/en/
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