CITY OF MELBOURNE (dpa-AFX) - Rio Tinto's Kennecott operation has taken a significant step toward its decarbonisation targets by entering into a 15-year virtual power purchase agreement (VPPA) with TerraGen. The agreement secures renewable energy from a newly completed wind farm in Texas, reinforcing Kennecott's commitment to sustainable operations and long-term emissions reduction, Rio Tinto said in a statement.
Under the agreement, Rio Tinto will purchase 78.5 megawatts (MW) of renewable energy generated by TerraGen's 238.5 MW Monte Cristo I Windpower project. Commercial operations were commemorated with a ribbon cutting ceremony on site today.
Rio Tinto has committed to reducing its Scope 1 and 2 emissions by 50% by 2030 and achieving net zero by 2050. Around 78% of the electricity Rio Tinto uses globally comes from renewable sources, and the company is making investment and supply decisions to increase this to around 90% by 2030.
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