en.Wedoany.com Report on Mar 26th, Rio Tinto's Boyne aluminium smelter in Gladstone, Australia, has secured a total of $2 billion in funding support from the federal and Queensland state governments. According to the agreement, the government will provide funding in phases to ensure the bauxite mining and smelting operations continue at least until 2040. In exchange, Rio Tinto has committed to investing $7.5 billion in renewable energy generation and energy storage facility construction to accelerate the green energy transition process.

This support plan stems from the planned closure in 2029 of the 1,680-megawatt coal-fired power plant that the smelter relies on, which had previously threatened the plant's operations. Through government intervention and Rio Tinto's green investment, the smelter's power supply will gradually shift to renewable energy. Federal Minister for Industry and Innovation Tim Ayres stated, "This investment is good for productivity, economic resilience, and lower energy costs, and will make Australia stronger."

Rio Tinto has signed multiple renewable energy procurement agreements, including purchasing 40% of the output from Lightsource bp's Lower Wonga solar and battery project, equivalent to 112 megawatts of solar power and 3 hours of storage. Additionally, the company has reached an agreement with Edify Energy involving 600 megawatts of solar power and 2,400 megawatt-hours of battery storage, and has signed power purchase agreements with the Bungaban wind farm and the Upper Calliope solar project.

These initiatives bring Rio Tinto's total renewable energy contracts in Queensland to 2.8 gigawatts, with an energy storage capacity of 600 megawatts. The Gladstone region is predominantly coal-based, and this transition is expected to accelerate the local shift to clean energy while safeguarding approximately 1,000 jobs. The smelter is Queensland's largest single energy user, and the green energy transition will help reduce operational costs and environmental impact.