European Energy receives development approval for 1.1 GW project in Australia

Planning approval positions the 1.1 GW Upper Calliope Solar Farm for advanced development with a long-term offtake agreement supporting its commercial structure.

– European Energy has received planning approval for the 1.1 GW Upper Calliope Solar Farm in Queensland, advancing the project toward final design, grid processes and construction preparation.

– The project’s full output is contracted to Rio Tinto under a 25-year power purchase agreement, providing long-term revenue clarity.

– With approval in place, the solar farm moves into advanced development, with remaining steps including grid connection finalisation, procurement and final investment decisions.

Copenhagen, Denmark, 19th of December, 2025 – European Energy has secured planning approval for the Upper Calliope Solar Farm, a 1.1 GW solar park near Gladstone in Queensland, materially reducing development risk and advancing the project’s investment readiness.

The approval provides the basis for progression to final design, grid connection processes and construction preparation, positioning the project as a permitted, large-scale solar asset in a key industrial energy region.

 The project is supported by a 25-year power purchase agreement with the global mining and materials company Rio Tinto, under which the solar farm’s full output is contracted. The long-term offtake agreement provides revenue visibility and underpins the project’s commercial structure.

“With planning approval now in place, we can move ahead with the Upper Calliope project – one of the largest projects European Energy has undertaken to date. It’s an exciting and important step and our experienced team will now move on to the next phase of development,” said Catriona McLeod, Vice President and Country Manager, Australia.

Electricity generated by the project is intended to supply Rio Tinto’s operations in Queensland, including aluminium smelting and alumina refining in the Gladstone region. The location offers proximity to existing transmission infrastructure and a long-established industrial load centre.

With planning approval secured, the project has progressed into an advanced stage of development. Key remaining milestones include grid connection finalisation, procurement and final investment decisions.

“Securing planning approval materially advances the Upper Calliope project and reduces execution risk,” said Thorvald Spanggaard, Executive Vice President and Head of Project Development at European Energy.

“Together with the long-term contracted offtake, the project now represents a permitted, utility-scale solar asset with defined revenue characteristics – one of the largest of its kind.”

European Energy continues to develop renewable energy assets across Australia and globally and assesses a range of ownership and partnership structures as projects reach advanced development stages. The commercialisation of the project is part of such broader engagement around potential partnership models.

Contact

Ming Ou Lü

PR Manager

miol@europeanenergy.com

+45 3126 9376