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Market Update | 14 March 2025

  • Rio Tinto solar and battery deal for Gladstone refineries and smelters
  • DEECA opens survey for second Climate Change Strategy

Rio Tinto Signs Solar and Battery Deal

Thursday saw news breaking that Rio Tinto has signed a deal to secure the future of some of Australia’s largest energy consumers.

The deal, which includes a 600MW battery with 2,400 MWh of storage capacity, will power aluminium smelters and refineries in Gladstone, QLD.

This builds on previous large-scale agreements proposed in Upper Calliope (2GW of solar) and Bungaban (1.4GW of wind) that signals a commitment to investment in renewable power projects by the mining giant.

Climate Change Strategy Open for Consultation

On Tuesday this week, The Department for Energy, Environment and Climate Action (DEECA) released a consultation on the proposed Climate Change Strategy for 2026-2030.

The key points are as follows;

  1. Victoria’s climate is changing: Warming temperatures and increased extreme weather events (heatwaves, fires, floods, droughts) are already impacting the state and are projected to worsen.
  2. The Victorian government has set ambitious emissions targets: The government aims include net-zero emissions by 2045 and interim targets have been legislated to achieve this.
  3. Significant emission reductions are needed: While progress has been made, further action is crucial across all sectors (energy, transport, agriculture) to meet these targets.
  4. The government is actively implementing climate action: This includes investing in renewable energy, reducing fossil fuel reliance, and supporting emissions reduction across various sectors.
  5. Adaptation is essential: Victoria is also focusing on building resilience to the unavoidable impacts of climate change through adaptation strategies and investments in infrastructure and community support.

To read more and submit a response, please click here.

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.

Ben Lumley

Ben Lumley | Programs & Account Manager VIC
Ben specialises in VEU Activities (Residential Retrofits, Residential & Commercial Heat Pumps, Air Conditioning, Commercial Lighting), and ESS Activities (IHEAB Heat Pumps).

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