Nevada-based geothermal developer Zanskar has signed a 20-year power purchase agreement (PPA) with NV Energy to supply 100 megawatts of carbon-free electricity by 2030, marking a major expansion of geothermal energy generation in the state.
The agreement, which is subject to approval through NV Energy’s 2026 Integrated Resource Plan by Nevada regulators, will see Zanskar develop and operate a portfolio of geothermal projects capable of delivering continuous baseload power through to 2050.
The projects are expected to play a vital role in strengthening grid reliability while supporting the state’s long-term clean energy goals.Zanskar said the deal will support Nevada’s rising electricity demand while helping the state diversify its renewable energy mix.
The company has been building a growing geothermal portfolio across Nevada, including projects at Pumpernickel and Big Blind, using artificial intelligence (AI) and advanced data tools to improve exploration success rates and reduce drilling risks.
“Geothermal is one of the few energy sources uniquely positioned to deliver affordable, around-the-clock power,” said Ryan McGraw, Zanskar’s chief development officer.
“Not only can it deliver reliable, carbon-free power with existing technologies, but it’s also uniquely suited to scale and meet growing electrical needs for years to come,”
He added: “This agreement marks a significant step in scaling our portfolio further, and we’re grateful to be working alongside NV Energy to meet the moment to provide carbon-free power at a time of high demand.”
The announcement follows a busy period of growth for Zanskar.
Within this year alone, it raised US$115mn in Series C funding, closed US$40mn in novel development capital, and signed a GEODE agreement with CC Power.
With this continued momentum, McGraw added, Zanskar is proving naturally occurring geothermal can be de-risked and scaled domestically to power the next generation of clean American energy infrastructure.