ACEN-backed YEC inks Rio Tinto deal for Pilbara solar farm

Insider Spotlight

• Yindjibarndi Energy Corp. reached financial close for the Jinbi Solar Project in Western Australia
• Rio Tinto signed a 30-year power purchase agreement for the project’s entire Stage 1 output
• The initial solar facility will have 75 MWac capacity, expandable to 150 MWac with potential battery storage
• Construction is expected to begin immediately, with commercial operations targeted by mid-2028
  
  

ACEN Corp. 's Australian joint venture with the Yindjibarndi Aboriginal Corp. has reached financial close for the Jinbi Solar Project, paving the way for construction to begin on one of Australia’s largest Indigenous-led renewable energy initiatives.

In a disclosure on Monday, ACEN said Yindjibarndi Energy Corp. (YEC) also signed a 30-year power purchase agreement with mining giant Rio Tinto, which will buy all electricity generated by the project’s first stage.

The Jinbi Solar Project is located in the Pilbara region of Western Australia and forms part of YEC’s broader renewable energy pipeline across Yindjibarndi Ngurra, or traditional lands.

Why it matters

The deal strengthens ACEN’s renewable energy footprint in Australia while highlighting growing partnerships between Indigenous communities and large-scale clean energy developers.

The agreement also supports Rio Tinto’s decarbonization efforts for its Pilbara iron ore operations.

Stage 1 of Jinbi will consist of a 75-MWac or 102-MWdc solar facility, with an option to expand capacity to 150 MWac or 204 MWdc. The project may also integrate battery energy storage systems, subject to future approvals and development decisions.

What they’re saying

“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,” YEC chief executive officer Craig Ricato said in a press statement.

“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,” Ricato added. 

ACEN Group chief investment officer Patrice Clausse said the project demonstrates “what is possible when Traditional Owner leadership, long term vision and disciplined project development come together.”

Between the lines

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

Yurra, a Yindjibarndi Nation enterprise, has already begun early site preparation and mobilization works.

The broader YEC platform aims to develop up to 3 gigawatts of renewable energy capacity across around 13,000 square kilometers in the Pilbara region. 

ACEN said it currently has over 7 GW of attributable renewable energy capacity across projects in operation, under construction and with signed agreements. —Vanessa Hidalgo | Ed: Corrie S. Narisma