Australia’s Rio Tinto to develop 80 MW solar farm

Australia’s Rio Tinto announced plans on Monday to develop an 80-megawatt (MW) solar farm to provide renewable energy to its operations in Western Australia’s Pilbara region.

The solar farm is expected to reduce natural gas use by up to 11 per cent and cut the miner’s carbon dioxide emissions by up to 120 kilotons annually.

The project, set to be located near Rio’s Yurralyi Maya Power Station, will complete its feasibility study by early 2025, with commissioning slated for 2027.

To meet its renewable energy goals and support fleet electrification by 2030, Rio estimates needing 600 MW to 700 MW of renewable energy.

Following the announcement, Rio Tinto’s shares rose by 1 per cent as of 0426 GMT, aligning with a 1 per cent increase in the Australian mining sub-index.

Attribution: Reuters.