Rio Tinto Signs New Wind Energy Agreement to Support Kennecott's Decarbonization Efforts

Rio Tinto's Renewable Energy Agreement: Rio Tinto has signed a 15-year virtual power purchase agreement to obtain 78.5 MW of renewable electricity from TerraGen’s Monte Cristo I wind farm in Texas for its Kennecott copper operations in Utah, enhancing its U.S. decarbonisation strategy.

Corporate Climate Strategy Goals: The agreement aligns with Rio Tinto's climate strategy, aiming for a 50% reduction in Scope 1 and 2 emissions by 2030 and achieving net-zero operations by 2050, while increasing its renewable energy sourcing from 78% to 90% by the end of the decade.

Support for Renewable Capacity Expansion: The deal not only strengthens Rio Tinto's renewable energy position but also supports the growth of greenfield renewable capacity on the U.S. grid, reflecting a broader trend among major miners to scale renewable procurement.

Focus on Low-Carbon Materials: The agreement is part of Rio Tinto's efforts to reduce the carbon footprint of copper, a key metal for electrification and clean energy infrastructure, while also managing exposure to carbon costs and meeting customer demand for low-carbon materials.