24/7 Clean Power
GeoGenCo Closed-Loop Projects
Utilizing our proprietary Induced Brine Convection and Closed-Loop technology, GeoGenCo USA will develop projects to sustainably extract heat from deep thermal reservoirs and generate reliable and environmentally clean baseload renewable electric power.
Leveraging this technology and our proprietary Intellectual Property that allows the reactivation of abandoned wells, GeoGenCo USA plans to develop, finance, build, own, and operate a series of 20MW baseload geothermal power plants in the Salton Sea over the next 10 years – with a total potential of over 600MW of power for the southern California region. In addition, we plan to develop other opportunities in North America as well as support GeoGenCo International in undertaking projects in the large addressable global market.
GeoGenCo USA intends to build and operate a 20MW geothermal power plant, GeoGenCo Project #501, located within the Salton Sea Known Geothermal Resource Area (“KGRA”) in Southern California. We will soon follow with two additional 20MW plants – Project #502 and Project #508 – adjacent to Project #501.
The Projects 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.
Project Development
The development of Project #501 is complete. Project financing is being finalized for Notice to Proceed (“NTP”) to begin construction in Q1 2024.
Development Highlights
- 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.
- The well has been drilled, eliminating significant project construction cost and risk.
- Contracts are ready for execution, pending project financing (Q1 2024).
- Third party engineering reviews have been completed, including an Independent Engineering (“I.E.”) report which indicates that the project structure, plans, organizational approach, and participants are reasonable and appropriate for the project.
- Lockton Insurance, a global energy insurance broker, has placed a comprehensive owner-controlled insurance program (“OCIP”), including a separate power performance guarantee.
Development Highlights
- 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.
- The well has been drilled, eliminating significant project construction cost and risk.
- Lockton Insurance, a global energy insurance broker, has placed a comprehensive owner-controlled insurance program (“OCIP”), including a separate power performance guarantee.
Development Highlights
- 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.
- The well has been drilled, eliminating significant project construction cost and risk.
- Lockton Insurance, a global energy insurance broker, has placed a comprehensive owner-controlled insurance program (“OCIP”), including a separate power performance guarantee.
A recent U.S. Department of Energy analysis estimates that the KGRA has the potential for up to 2,950MW geothermal electricity-generation capacity, establishing it as the largest geothermal field in the United States.
Independent analysis of the area of well for Project #501, has shown it capable of generating in excess of 50MW of electricity for 100 years from the currently available heat resource.
