Rio Tinto Partners with European Energy for Australia's Largest Solar Farm

• European Energy and Rio Tinto join forces for the Upper Calliope solar project, set to be Australia's largest solar corporate PPA, boosting renewable energy and creating jobs.

European Energy has signed a power purchase agreement (PPA) with mining company Rio Tinto for the Upper Calliope solar project in Queensland, Australia. The agreement ensures that all energy generated from the 1.3 GWp solar farm will be supplied to Rio Tinto, making it the largest solar corporate PPA in Australia. The project, subject to development and grid connection approvals, is expected to significantly boost renewable energy in the region and contribute 5% of Queensland's electricity. It is also anticipated to support over 1,000 existing jobs and create up to 1,000 new jobs during construction.

The Upper Calliope Solar Farm is a key part of Rio Tinto's strategy to reduce its global carbon emissions by 50% by 2030. The project will power Rio Tinto's Gladstone operations and help repower the company's operations in Central Queensland. The construction of the solar farm is targeted to begin in 2025-26 and will have a significant economic impact on the region. Rio Tinto CEO Jakob Stausholm emphasized the importance of competitive capacity, firming, and transmission in developing a modern energy system that supports large-scale renewables development in Queensland and ensures the future of Australian industry.

What is the significance of the Upper Calliope solar project for Rio Tinto and Queensland?

• The Upper Calliope solar project is significant for Rio Tinto as it aligns with the company's goal of reducing its global carbon emissions by 50% by 2030.
• The project will power Rio Tinto's Gladstone operations and help repower the company's operations in Central Queensland, showcasing their commitment to transitioning to renewable energy sources.
• By signing a power purchase agreement (PPA) with European Energy, Rio Tinto ensures that all energy generated from the 1.3 GWp solar farm will be supplied to them, making it the largest solar corporate PPA in Australia.
• The project is expected to significantly boost renewable energy in the region and contribute 5% of Queensland's electricity, helping to reduce reliance on fossil fuels and decrease carbon emissions.
• The construction of the solar farm is anticipated to support over 1,000 existing jobs and create up to 1,000 new jobs during the construction phase, providing a significant economic boost to the region.
• Rio Tinto CEO Jakob Stausholm emphasizes the importance of competitive capacity, firming, and transmission in developing a modern energy system that supports large-scale renewables development in Queensland and ensures the future of Australian industry. This highlights the significance of the Upper Calliope solar project in advancing the renewable energy sector in the region.