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Yindjibarndi Energy Corporation (YEC) has reached financial close on the Jinbi Solar Project in Western Australia’s Pilbara region and signed a 30-year power purchase agreement (PPA) with mining giant Rio Tinto.
This marks the first project by YEC to reach this stage, three years after its formation in partnership with the Yindjibarndi Aboriginal Corporation and ACEN Corporation.
The financial close indicates that essential funding, contractual agreements and environmental approvals necessary for construction have been secured.
Under the PPA, YEC will provide 100% of the electricity produced from stage one to Rio Tinto, aiding in the decarbonisation of its Pilbara Iron Ore operations once the project becomes operational.
YEC CEO Craig Ricato said: “Reaching financial close on our first project in the Pilbara within three years of the partnership’s operation is a significant milestone for YEC and our shareholders, the Yindjibarndi Traditional Owners and ACEN.
“It confirms that a Yindjibarndi-led project, grounded in country and culture, can meet the rigorous commercial requirements of the energy market while staying true to our values and governance responsibilities.”
According to Rio Tinto, stage one of the Jinbi Solar Project will feature a 75MW-alternating current (MWac) solar facility, with potential expansion to 150MWac and possible integration of battery energy storage systems, pending regulatory approvals and future planning decisions.
Rio Tinto iron ore CEO Matthew Holcz said: “We are proud to be part of the Jinbi project, which reflects years of work by many and led by the Yindjibarndi people.
“Developing renewable energy on Yindjibarndi Country, in partnership with its traditional custodians, creates enduring value – supporting our operations while contributing to long-term economic opportunities on country.”
After achieving financial close, YEC authorised DT Infrastructure, its engineering, procurement and construction contractor, and Rapid Camps, its construction accommodation provider, to begin work.
Construction will start as planned, with full operations expected by mid-2028, which will initiate the 30-year PPA period.
Preliminary site work is in progress, with Yurra, a Yindjibarndi Nation enterprise and YEC's chosen civil works partner, managing site preparation and mobilisation for construction.
"YEC inks PPA with Rio Tinto for Jinbi Solar Project" was originally created and published by Power Technology, a GlobalData owned brand.
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