Fervo Energy signs 40 MW geothermal PPA with EBCE

2022-05-29 10:32:20 By : Ms. Mary Wu

Fervo Energy has signed a power purchase agreement for a planned 40 MW geothermal power project in Nevada to Californian clean energy provider.

Shared today, clean energy provider East Bay Community Energy (EBCE), announced a partnership with Fervo Energy to equip EBCE with geothermal power, adding non-weather-dependent clean energy to its power supply. For EBCE this is the first geothermal power purchase agreement.  EBCE is a not-for-profit public agency that operates a Community Choice Energy program for Alameda County  and fourteen incorporated cities, serving more than 1.7 million residential and commercial customers

EBCE tapped Fervo Energy, a next-generation geothermal company applying transformative geothermal technology to address climate change, to increase its carbon-free energy deployment in response to a State of California mandate to procure 1,000 MW of non-weather-dependent, zero-emission energy by 2026. This project will dispatch 40 MW of firm, 24/7, zero-emission geothermal energy from Churchill County, Nevada  to California’s  regional grid, with expected operation in Q4 2026.

Fervo Energy brings a variety of innovative technologies to geothermal including horizontal drilling and distributed fiber optic sensing to deliver more reliable and cost-effective projects. This approach makes geothermal power accessible in far more places than before and dramatically increases its potential as a widespread energy source.

“Geothermal power is vital to achieving the decarbonization goals of California  and around the world,” said Tim Latimer , CEO at Fervo Energy. “East Bay Community Energy has established itself as the leader in scaling dependable, clean electricity in the best interest of its customers, and we’re honored to be partnering with them.”

Serving Alameda County  and fourteen incorporated cities, EBCE offers a power mix of carbon-free and renewable energy sources including wind, solar, hydro, and geothermal, with a goal of providing 100 percent clean electric service for its customers by 2030 – 15 years ahead of California’s  target date. With this first geothermal PPA, EBCE is doubling down on providing long-term stable prices for its ratepayers, while ensuring greater reliability as more regions fall under the threat of climate change-induced power outages.

“Developing a diverse portfolio of clean energy facilities helps keep prices stable and the lights on,” said Nick Chaset , CEO at EBCE. “As one of the cleanest energy providers in California , adding geothermal to our portfolio adds resiliency to the communities we serve and a level of stability EBCE customers can count on.”

Source: Company release via PRNewswire