Rio Tinto and Rondo Energy move ahead with Australian heat battery plant
Reuters reports Rio Tinto and Rondo Energy are advancing a large thermal storage project in Australia, with ARENA funding up to $38 million after completion.
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what happened
According to Reuters, Rio Tinto and Rondo Energy are moving forward with a heat-storage venture that is being called the biggest of its kind in Australia. Once a completion step has been reached, ARENA plans to provide as much as $38 million to fund the deployment of the system.
why it matters
Thermal storage lets surplus power be kept as heat for later use, which can help industrial users and grids manage swings in demand. For markets this is a small public funding step, so its effect on energy prices or the wider sector is limited.
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instruments
sources
- Rondo Energy And Rio Tinto Advance Australia's Largest Thermal Energy Storage Project — Reuters, 20 October 2026 at 22:30 UTC
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