Project UpdateJun 1, 2026, 02:51 PM
Rio Tinto signs 30-year PPA for 75MW Jinbi Solar Project
AI Summary
Rio Tinto has signed a 30-year Power Purchase Agreement (PPA) with Yindjibarndi Energy Corporation (YEC) for the Jinbi Solar Project in the Pilbara, Australia, following its financial close. This project will supply 100% of its 75 MWac (expandable to 150 MWac) electricity to Rio Tinto's Iron Ore Pilbara operations, supporting decarbonization, with commercial operations expected by mid-2028. Separately, Vanguard Group increased its substantial holding in Rio Tinto Limited from 6.022% to 7.027%. Rio Tinto plc also updated its total voting rights to 1,255,045,621 ordinary shares.
Key Highlights
- Rio Tinto signed a 30-year PPA with Yindjibarndi Energy Corporation for the Jinbi Solar Project.
- Jinbi Solar Project Stage 1 is 75 MWac, with an option to expand to 150 MWac.
- The project will supply 100% of its electricity to Rio Tinto's Pilbara iron ore operations.
- Commercial operations for the Jinbi Solar Project are expected to commence in mid-2028.
- Vanguard Group increased its voting power in Rio Tinto Limited from 6.022% to 7.027%.
- Rio Tinto plc's total voting rights are 1,255,045,621 ordinary shares as of April 30, 2026.
- 14,724 ordinary shares were issued for the Global Employee Share Plan between March and April 2026.
Price Impact
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