ACEN Corp. said its Australian subsidiary, Yindjibarndi Energy Corp. (YEC), has secured financial close for the Jinbi solar project in the Pilbara region, allowing construction to begin.
YEC, a partnership between ACEN and the Yindjibarndi Aboriginal Corp., also signed a 30-year power purchase agreement with Rio Tinto.
The first phase of the project will include a 75-megawatt solar facility, with plans to expand to 150 MW and possibly add battery energy storage systems in the future, subject to approvals.
Under the agreement, all electricity generated by the project’s first stage will be supplied to Rio Tinto to help reduce emissions from its Pilbara iron ore operations.
Following the financial close, YEC issued notices to proceed to contractor DT Infrastructure and accommodation provider Rapid C.
ACEN said it plans to complete or begin construction of another 1,000 MW of energy projects this year, mostly battery storage developments.
The Ayala Group’s energy arm aims to grow its renewable energy capacity to 20,000 MW by 2030 and achieve net zero greenhouse gas emissions by 2050.
