Yindjibarndi Energy Corporation (YEC) has reached financial close on the 150MW Jinbi solar PV power plant in Western Australia's Pilbara region and signed a 30-year power purchase agreement (PPA) with mining giant Rio Tinto.
Solar PV and wind are now the cheapest power sources globally, with hybrid systems increasingly delivering 24/7 electricity at fossil-competitive costs, according to an IRENA report.