Yindjibarndi Energy Corporation will supply renewable energy to Rio Tinto’s iron ore operations in the Pilbara from its new 75 MWac solar project, a major step in the region’s decarbonization and a landmark for Indigenous-led business. The deal secures a 30-year revenue stream for the project and provides Rio Tinto with a critical source of clean energy.
“Jinbi is about more than a renewable energy project - it is about Yindjibarndi people exercising authority on Country and building an economic future that reflects our law, culture and responsibilities,” Michael Woodley, Chief Executive Officer of Yindjibarndi Nation, said. “Reaching Financial Close demonstrates that when development is Yindjibarndi‑led, underpinned by strong governance and the right partnerships, it can deliver outcomes that are both commercially sound and culturally grounded.”
The Yindjibarndi Energy Corporation (YEC) announced it has reached Financial Close and issued a Notice to Proceed for construction of the Jinbi Solar Project. Under a 30-year Power Purchase Agreement (PPA), YEC will supply all electricity generated by the 75 MWac Stage 1 facility to Rio Tinto. Construction will begin immediately, with commercial operations slated for mid-2028.
The project represents a significant milestone for YEC, a partnership between the Yindjibarndi Aboriginal Corporation and renewable energy developer ACEN Corporation, formed in 2023. For Rio Tinto, the PPA is a key part of its strategy to decarbonize its extensive Pilbara iron ore mines, which are energy-intensive. The agreement creates a pathway for long-term economic opportunities on Yindjibarndi Country while supporting Rio’s operational needs.
Project Development and Construction
Financial Close confirms that all key funding, contracts, and government approvals are in place for the Jinbi project to proceed. YEC has appointed DT Infrastructure as its Engineering, Procurement and Construction contractor, with early site preparation already underway by Yurra, a Yindjibarndi Nation enterprise.
The project includes an option to expand capacity to 150 MWac and to integrate a Battery Energy Storage System (BESS), which would further stabilize supply to Rio Tinto’s operations.
“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,” YEC Chief Executive Officer, Craig Ricato, said. He noted it “confirms that a Yindjibarndi-led project, grounded in Country and culture, can meet the rigorous commercial requirements of the energy market.”
A New Model for Partnership
The agreement is being hailed as a new benchmark for partnerships between traditional owners and major resource companies in Australia. It moves beyond royalties to a model of equity partnership and long-term, sustainable wealth creation for the Yindjibarndi people.
“We’re proud to be part of the Jinbi project, which reflects years of work by many and led by the Yindjibarndi People,” Rio Tinto Iron Ore Chief Executive Matthew Holcz said.
The project is the first for YEC, which has plans to develop up to 3 gigawatts of renewable energy capacity on Yindjibarndi Ngurra. This positions the Yindjibarndi Nation as a major player in Australia’s energy transition.
“Jinbi demonstrates what is possible when Traditional Owner leadership, long term vision and disciplined project development come together,” said Patrice Clausse, Group Chief Investment Officer of ACEN.
This article is for informational purposes only and does not constitute investment advice.
