Rio Tinto signs Australia’s biggest renewable power deal

Rio Tinto (ASX: RIO) has signed what it says is the largest renewable power deal in Australia. The miner will purchase 80% of the power produced by the 1.4 GW Bungaban wind energy project for 25 years.

The project is owned by Windlab and currently under construction about 40 km from the town of Wandoan and 290 km southwest of the Gladstone power station, in which Rio has an approximate 42% interest. The Gladstone operation is Queensland’s largest single power producer and part of the national electricity grid.

The Gladstone also plant provides power for Rio Tinto’s Boyne aluminum smelter, Yarwun alumina refinery, and Queensland alumina refinery.

This is the second renewable power deal for Rio. Last month the company announced its investment in the 1.1 GW Upper Calliope solar farm in Queensland.

Using power from Calliope and the Bungaban wind farm (when it comes on line in  2029), will make Rio Tinto Australia’s largest user of renewable energy.

Learn more about Rio’s operations in Australia on www.RioTinto.com.