Rio Tinto signs power deal for giant Australia solar farm (NYSE:RIO)

Rio Tinto (NYSE:RIO) stated Tuesday it agreed to purchase all electrical energy generated from Australia’s largest photo voltaic farm for 25 years, in a bid to supply renewable energy to the miner’s Gladstone operations because it seeks to chop in half its world Scope 1 and a couple of carbon emissions this decade.

Below the brand new energy buy settlement signed with venture developer European Power, Rio Tinto (RIO) stated it should purchase all energy generated from the Higher Calliope photo voltaic farm, which can may have the potential to chop down the corporate’s working carbon emissions by 1.8M metric tons/yr.

As soon as accepted and developed, Higher Calliope is seen serving to energy Rio’s (RIO) three Gladstone manufacturing belongings: the Boyne aluminum smelter, the Yarwun alumina refinery, and the Queensland alumina refinery.

Building of the Higher Calliope plant is focused to begin in 2025 or 2026 and will probably be constructed at a web site ~50 km southwest of Gladstone.