Rio Tinto (RIO) and Edify Energy have signed two new solar and battery hybrid services agreements to increase the supply of reliable, competitively priced electricity to Rio Tinto’s Gladstone aluminium operations in Queensland. Under the agreements, Rio Tinto will purchase 90% of the power and battery storage capacity generated by the Smoky Creek & Guthrie’s Gap Solar Power Stations for 20 years. Edify Energy will build, own, and operate the projects, with construction due to begin in late 2025 and targeting completion in 2028. Located in Central Queensland, the adjacent Smoky Creek & Guthrie’s Gap Solar Power Stations, will together feature 600MWac1 of solar and 600MW / 2,400MWh of battery storage.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIO:
- Northvolt Bankruptcy Deals a Blow to Europe’s Battery Desires
- Rio Tinto Issues $9B Debt to Finance Arcadium Acquisition
- Rio Tinto shelving plans to sell up to $5B in stock, Bloomberg says
- Rio Tinto to invest $1.8B to develop Brockman Syncline 1 mine project
- Trump comments spark copper price surge, Bloomberg reports
Questions or Comments about the article? Write to editor@tipranks.com