European Energy has inked a PPA with global mining and materials company Rio Tinto for a solar farm project.
With this agreement, the company has taken a significant step towards realising Australia’s largest solar farm. Under the deal, energy generated from the 1300MWp Upper Calliope Solar Farm will be supplied to Rio Tinto, the statement reads.
Rio Tinto has committed to a 25-year purchase of all electricity from the farm.
As per European Energy, this agreement is the biggest solar corporate PPA in Australia. The project is expected to boost renewable energy in country’s key industrial region.
The project is located around 50 kilometres southwest of Gladstone in Queensland, Australia. The solar farm’s construction is planned to kick off in 2025-26.
Knud Erik Andersen, chief executive of European Energy, was quoted in a statement, "The Upper Calliope Solar Farm is a landmark project for European Energy. With a capacity that makes it the largest solar farm we’ve ever developed, it highlights the transformative potential of solar power in regions like Queensland."
Meanwhile, Rio Tinto chief executive Jakob Stausholm remarked, "This agreement is a first important step in our work to repower our Gladstone operations and illustrates our commitment to keeping sustainably powered industry in Central Queensland.”
The duo has pledged for more large-scale renewables development in Queensland.