RIO in 2 Billion Solar and Battery Deal - Read it and Weep, page-2

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13/03/25

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Originally posted by Sailor101: ↑

Rio Tinto solar, battery deal in Queensland to spur $2b investment
Edify Energy will build two large integrated systems to supply Rio Tinto’s aluminium operations near Gladstone.
Angela Macdonald-SmithSenior resources writer
Mar 13, 2025 – 4.00pm

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A major renewable energy deal inked by Rio Tinto will underpin $2 billion of investment in solar farms and batteries in central Queensland and is being hailed as a milestone towards the eventual supply of round-the-clock solar power.
Rio will buy 90 per cent of the output from two adjacent solar and battery projects to be built by Edify Energy for 20 years to use at its energy-intensive aluminium operations around Gladstone. The deal is among the largest renewables deals signed with an industrial company, says Edify founder and chief executive John Cole.
Aluminium producers face challenges in switching to low-carbon power. Jason South
The mining giant has previously flagged its intention to rely partly on batteries to help ensure that new, lower-carbon sources of power for smelters can be provided reliably.
It has a goal to switch its smelters in NSW and Queensland to run on clean energy before 2030 but faces challenges to secure firmed renewable power in sufficient volumes and at an affordable cost.
Rio’s Australian operations chief executive, Kellie Parker, said the Edify deal was “integral to repowering our Gladstone aluminium operations with affordable, reliable and lower carbon energy for decades to come”.IORio Tinto

“For the first time, we have integrated crucial battery storage in our efforts to make the Boyne aluminium smelter globally cost-competitive, as traditional energy sources become more expensive,” she said.
The deal comes on top of 2.2 gigawatts of wind and solar power purchase deals already announced by Rio last year for its Gladstone operations.
Edify’s head of energy markets and offtake, Andrew Stiel, said the deal was a vote of confidence in the renewable future of the power system from the largest electricity consumer in Queensland.

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" The deal comes on top of 2.2 gigawatts of wind and solar power purchase deals already announced by Rio last year for its Gladstone operations."
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