<
https://reneweconomy.com.au/mining-giant-signs-30-year-off-take-deal-to-underpin-indigenous-led-pilbara-solar-and-battery-project/>
"One of Australia’s largest Indigenous-led renewable energy initiatives has
reached financial close for an up to 150 megawatt solar farm and battery in
Western Australia, after sealing a major off-take deal to help decarbonise the
Pilbara iron ore operations of mining giant Rio Tinto.
The Yindjibarndi Energy Corporation (YEC) said on Monday that it has signed a
30-year power purchase agreement (PAA) with Rio Tinto, bringing to a close all
of the key funding, contractual and developmental consents needed to start
construction of a first stage of the Jinbi Solar Project.
Under the agreement, YEC will supply 100 per cent of the electricity generated
by Jinbi to Rio Tinto – making a start on the pair’s October 2023 MOU to roll
out a series of solar, wind and battery projects to replace the gas-fired
generators Rio currently relies on to power its huge iron ore mines.
YEC was launched in July 2023 by the Yindjibarndi Aboriginal Corporation (YAC)
and Philippines renewables developer Acen Corporation. It wants to develop
around 750MW of wind, solar and batteries on Yindjibarndi Ngurra (country)
where the YAC holds exclusive possession, the strongest form of native rights.
Stage 1 of the Jinbi solar farm will be 75 megawatts (MW), with an option to
expand it to 150 MW and add a Battery Energy Storage Systems (BESS), subject to
regulatory approvals and future development decisions.
YEC says locking in the 30-year PPA with Rio Tinto has allowed it to issue a
notice to proceed to its Engineering, Procurement and Construction (EPC)
contractor, DT Infrastructure, and its construction accommodation provider,
Rapid Camps.
Early site works are already underway, with Yurra, a Yindjibarndi Nation
enterprise and YEC’s preferred civil works partner, preparing the site for
construction.
“Reaching Financial Close on our first project in the Pilbara within three
years of the partnership’s operation is a significant milestone for YEC and our
shareholders, the Yindjibarndi Traditional Owners and Acen,” said YEC chief
Craig Ricato.
“It confirms that a Yindjibarndi-led project, grounded in Country and culture,
can meet the rigorous commercial requirements of the energy market while
staying true to our values and governance responsibilities.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
