Closed-Loop Geothermal Projects

GeoGenCo USA intends to build and operate a18.5MW (net) geothermal power plant, GeoGenCo Project #501, located within the Salton Sea Known Geothermal Resource Area in Southern California. 

The Project will provide reliable and environmentally clean baseload (24/7) renewable electric power that will reduce reliance on coal and oil and gas power plants, thus reducing CO2 and other greenhouse gas emissions. 

GeoGenCo USA’s technology also will provide advantages in significant reduction in the use of water resources, a key issue in the Project’s location in Southern California.

The pre-development of the Project is complete, such that pending close of project financing, the Project is “Shovel Ready” and will be fully operational within 14 months of financing.

KEY DEVELOPMENT HIGHLIGHTS

• Up to 30-year Power Purchase Agreement (PPA) planned with Imperial Irrigation District (IID), a Moody’s A1 rated utility, headquartered in El Centro, CA.
• The PPA will provide for the purchase of 17.25 MW of the 18.5 MW power to be produced by the Project.
• All required and relevant environmental and other permits have been obtained.
• The project secured 35-acres of surface site control and 320 acres of sub surface geothermal rights all located in what is called the Salton Sea Known Geothermal Resource Area (“KGRA”), an extensive world-renowned geothermal resource.
• The well has been drilled, eliminating significant project construction cost and risk.
• Contracts for the delivery and operation of the Project are essentially complete and ready for execution, pending project financing.
• Third party engineering reviews have been completed, including an Independent Engineering (I.E.) report prepared by Black & Veatch which indicates that the project structure, plans, organizational approach and participants are reasonable and appropriate for the project.
• Lockton Insurance, a top insurance brokerage company globally, has placed a comprehensive owner-controlled insurance program (OCIP), including a separate power performance guarantee. 
• As an environmentally clean baseload renewable power project, GeoGenCo Project #501 will meet and surpass environmental qualifications for a Green Bond. 

GEOTHERMAL RESOURCE

The Salton Sea KGRA is one of the largest geothermal resources in the world. It has been explored since 1927, and has been in commercial production since 1982, with nearly 500 MWs of existing generation. It is one of the world’s most prolific geothermal resources, as a result of high heat flow due to the field’s tectonic setting, and the host sedimentary formations. 

A power generation analysis of a potential of 2,330 MW’s, estimated by research scientists in 2002, established the SSKGRA as the largest geothermal field in the United States. Since 2002, more extensive exploration, drilling, and a denser and better data acquisition from the land portion of the field have expanded the size of the anomaly. Thus, expanding the available MW production capabilities.

Independent analysis of the area of well #501, has shown it capable of generating in excess of 50 MWs of electricity for 100 years from the currently available heat resource which is 700 (+/-10) degrees F at 11,500 ft.

SITE CONTROL

GeoGenCo USA controls 35 acres of surface land and 320 acres of subsurface geothermic heat rights in the Salton Sea KGRA of Southern California, near Nyland. The leased lands and/or rights are secured by production-based lease payments.

There are currently 3 permitted wells on the 35-surface acre site, but five more may be added at a later date per the Conditional Use Permit (CUP). All wells will be similarly configured. The land was leased to GeoGenCo USA in 2015.

Project #501 site sits on a 20-acre parcel of land with easy access to power distribution lines already in place. The plan is to tie into the 93 kV power line on the eastern edge of the parcel parallel to English Road. The well for Project #502 also sits in the same 20-acre parcel, located 100 ft. north of Project #501. The well for Project #508 sits approximately 0.8 miles to the NE of Project #501. The sub-station for all three projects will be built on the 15-acre parcel immediately west of where Project #508 is located.