Rio Tinto inks renewable power purchase deal with Windlab’s wind project

By Thomson Reuters Feb 20, 2024 | 3:35 PM

(Reuters) – Rio Tinto Ltd has signed a renewable power purchase agreement with specialist renewable energy firm Windlab to buy the majority of electricity from its planned 1.4 giga-watt wind energy project in Queensland, the miner said on Wednesday.

Rio Tinto will buy 80% of all power generated from the Bungaban wind energy project over 25 years, the world’s largest iron ore producer said.

The project is currently in early development, and will be built and operated by Windlab in Queensland, subject to development and grid connection approvals.

The construction of the Bungaban project is targeted to start in late 2025 and is expected to produce electricity by 2029, Rio Tinto said in a statement.

(Reporting by Sameer Manekar in Bengaluru; Editing by Pooja Desai and Maju Samuel)