CalEnergy and Salt River Project Expands Geothermal Power Purchase Agreement
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IMPERIAL County, California – (June 17, 2014) – Today, CalEnergy, LLC, a subsidiary of MidAmerican Renewables, executed an amendment to its agreement with Phoenix-based Salt River Project to provide Arizona residents and businesses with additional renewable geothermal energy until 2039. The amendment adds an additional 37 megawatts to the recently contracted agreement of 50 megawatts, for a combined capacity of 87 megawatts.
“Salt River Project will benefit from this reliable renewable energy for years to come,” said Bill Fehrman, president of MidAmerican Renewables. “We are pleased to provide one of the cleanest sources of baseload generation to SRP and continue to work with them to meet their renewable energy needs.”
Last year, CalEnergy announced its new portfolio contract structure for geothermal marketing. Rather than contracting power from individual plants, all of the facilities are marketed together as a group, providing a more diversified supply and additional flexibility with volume and timing to meet customers’ renewable energy supply needs. Customers also have the ability to secure contracts in increments of as low as 5 megawatts.
On June 12, MidAmerican Renewables announced the completion of its transaction with TransAlta to acquire all interest in CalEnergy, including the Imperial County geothermal facilities.
“We remain committed to economic development in Imperial County and the Salton Sea Known Geothermal Resource Area, where our geothermal power plants are located,” said Fehrman. “It is important to the future of our community and environment, and we will continue doing our part to facilitate growth of the renewable energy economy for many years to come.”
About CalEnergy and MidAmerican Renewables:
CalEnergy owns and operates 10 geothermal generation facilities in the Salton Sea Known Geothermal Resource Area in California’s Imperial Valley. CalEnergy, also known as MidAmerican Geothermal, is a subsidiary of MidAmerican Renewables, LLC. MidAmerican Renewables owns and operates wind, geothermal, solar and hydro projects in the unregulated renewables market. MidAmerican Renewables is headquartered in Des Moines, Iowa, and has offices in Phoenix, Arizona, and Calipatria, California. Information about MidAmerican Renewables and MidAmerican Geothermal is available on the company’s website and its Twitter, Facebook and YouTube pages, which can be accessed via www.midamericanrenewablesllc.com