Australia's Tomago smelter to run on renewables by 2033 after $2.5bn government deal

Rio Tinto's Tomago aluminium smelter has secured its operational future until 2038 through a significant A$2.5 billion ($1.77 billion) funding commitment from the Australian federal and New South Wales governments. This substantial investment aims to ensure the continued operation of the smelter while simultaneously driving a transition to renewable energy. A critical component of the agreement mandates that the Tomago smelter must be fully powered by renewable energy sources by the year 2033. The allocated A$2.5 billion will be directed towards the development of new renewable generation projects and the establishment of firming capacity, which is essential for ensuring a stable and reliable power supply from intermittent renewable sources. This deal represents a major step towards decarbonizing one of Australia's key industrial facilities and highlights government support for green industrial transitions.