In a recent LinkedIn update, Ignis H2 Energy Inc. announced that Chugach Electric Association, Alaska’s largest electric utility, has issued a non-binding Letter of Interest (LOI) to pursue a potential Power Purchase Agreement (PPA) for up to 200 megawatts of baseload geothermal power.
The energy would be sourced from a project currently being developed at Mount Augustine in partnership with GeoAlaska LLC.
This development marks a significant step in the collaboration between utility providers and geothermal developers aiming to decarbonize energy systems while ensuring grid stability, especially in frontier markets like Alaska’s Railbelt.
The LOI supports Ignis’s progression into the next phase of the project, which includes drilling and attracting further investment. Drawing on its background in oil and gas, Ignis is positioning itself as a fast-moving geothermal developer focused on unlocking high-potential resources in underutilised regions.
With clean, dispatchable baseload power becoming increasingly important, this initiative reflects a growing recognition of geothermal energy’s role in a reliable, low-carbon energy future.