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Yindjibarndi Energy Reaches Financial Close on Pilbara Solar Project With Rio Tinto PPA

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Yindjibarndi Energy Corporation will begin construction of the Jinbi Solar Project in Western Australia's Pilbara region after reaching financial close and signing a 30-year power purchase agreement with Rio Tinto, the company said in a statement on Monday.

The milestone marks a significant step for one of Australia's largest indigenous-led renewable energy initiatives and advances renewable energy development on Yindjibarndi land.

Financial close confirms that all key funding arrangements, contractual agreements, government approvals, and consents required for construction have been secured. Jinbi is the first YEC project to reach financial close since the company was established three years ago as a partnership between the Yindjibarndi Aboriginal Corporation and the Philippine renewable energy company ACEN Corporation.

Under the long-term power purchase agreement, YEC will supply all electricity generated by Stage 1 of the Jinbi Solar Project to Rio Tinto, supporting the mining company's efforts to decarbonize its Pilbara iron ore operations once the project becomes operational.

Stage 1 of the project will include a 75-megawatt alternating current solar facility, with the option to expand capacity to 150 MWac and potentially add battery energy storage systems, subject to regulatory approvals and future development decisions.

YEC has issued notices to proceed to the engineering, procurement, and construction contractor, DT Infrastructure, and the accommodation provider, Rapid Camps, following financial close.

Construction is scheduled to begin immediately, with full commercial operations expected by mid-2028, marking the commencement of the 30-year electricity supply agreement.

Early site works are already underway, with Yurra, a Yindjibarndi Nation enterprise and YEC's preferred civil works partner, carrying out site preparation and mobilization activities ahead of major construction works.

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