Projects Greenfield EGS, Weyerhaeuser Leases, WA, OR, CA - Case Study
In 2008 AltaRock Energy made an agreement with Weyerhaeuser Company (NYSE:WY) to explore the potential for developing geothermal projects on 667,000 acres of land in California, Oregon, and Washington. After 3 years of exploration and evaluation, AltaRock exercised its option to lease the geothermal right to approximately 45,000 acres of the land with the best potential for geothermal development. These geothermal leases further AltaRock’s goal of developing EGS in a cost-effective manner in order to provide baseload renewable energy to U.S. power markets, and to meet the renewable portfolio standard needs of utilities in states such as Washington, Oregon, California and Nevada. In the future, we will be exploring these leases, shown in the map below, in more detail and looking for investment partners to develop the geothermal resources underlying the parcels.
AltaRock Energy manages greenfield EGS leases for Weyerhaueser Company in Washington and Oregon.