In a statement, the company said that the financing agreement confirms the completion of the required funding, contractual arrangements, government approvals, and permits. The Jinbi project is the first project to reach financial close following the establishment of YEC through the partnership between the Yindjibarndi Aboriginal Corporation and ACEN Corporation.
Under the long-term agreement at the center of the project’s commercial structure, YEC will supply 100% of the electricity generated during Phase 1 of Jinbi to Rio Tinto. The agreement is expected to contribute to the decarbonization of Rio Tinto’s iron ore operations in Pilbara.
The first phase of the Jinbi Solar Energy Project will have an installed capacity of 75 MWac. Subject to the necessary approvals, the project has the potential to expand up to 150 MWac through the addition of battery energy storage systems (BESS).
Following financial close, YEC issued notices to proceed to engineering, procurement, and construction (EPC) contractor DT Infrastructure and site accommodation provider Rapid Camps. It was stated that construction activities will begin in line with the planned schedule, while full commercial operations are targeted to commence in mid-2028.
Yurra, which is affiliated with the Yindjibarndi Nation and serves as YEC’s preferred construction partner, has begun site preparation and mobilization works, with on-site activities already underway.
YEC CEO Craig Ricato described the financial close as a major milestone for the company and its partners, stating, “Reaching this stage in our first project in Pilbara three years after the partnership was established is a significant achievement.” Ricato emphasized that the project is capable of meeting commercial requirements while progressing in alignment with the values of the Yindjibarndi people.
Yindjibarndi Nation CEO Michael Woodley stated that Jinbi is not merely an energy project, noting that it strengthens the Indigenous people’s authority over their land and creates long-term economic opportunities.
Rio Tinto Iron Ore CEO Matthew Holcz said they appreciate the leadership of the Yindjibarndi people in the project, adding that the partnership contributes both to operations and to creating lasting value for the region.
ACEN Corporation Chief Investment Officer Patrice Clausse stated that the Jinbi project demonstrates the strong outcomes that can be achieved when Indigenous leadership is combined with a long-term vision.
The project is considered to demonstrate YEC’s ability to deliver large-scale infrastructure investments while preserving its strong governance structure and cultural foundations.
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