XGS Energy and California Community Power (CC Power) have executed a Geothermal Exploration, Offtake and Development Engagement (GEODE) Agreement for the development of next-generation geothermal energy in California.
Currently, California sits atop more than 35GW of untapped geothermal potential, as stated by the Clean Air Task Force last year. While high potential lies underfoot, geothermal plants within the state produce only 2.7GW of installed electric generation.
XGS’ water-independent system can harness this potential through the development of dry, hot rock resources to deliver reliable, clean electricity to diversify California’s energy portfolio.
Alexander Morris, General Manager of CC Power, said, “Geothermal energy offers a renewable resource that can provide valuable round-the-clock reliability that cannot be provided by California’s existing portfolio. The GEODE Agreement with XGS allows CC Power to thoughtfully build relationships with geothermal developers like XGS Energy, who are unlocking incremental geothermal capacity within California that supports local reliability, jobs and investment.”
This Agreement underscores XGS’ readiness to execute at scale and support CC Power’s member agencies, which represent more than 2.7 million customers.
“California has been clear about what it needs: clean, firm power that can be delivered at scale and on a near-term timeline,” commented Dr. Lucy Darago, Chief Commercial Officer at XGS Energy. “Our partnership with CC Power sends a strong demand signal for next-generation geothermal, and XGS is ready to deliver – using a water-independent system designed to unlock California’s vast hot rock resources and provide reliable power for communities across the state.”
The announcement further expands XGS’ multi-gigawatt development pipeline in the west of the US, including a 150MW grid-connected project in New Mexico in partnership with Vallourec and Baker Hughes.