On December 2022, Baseload Capital and Chevron New Energies announced a joint venture to collaborate on driving geothermal opportunities. The joint venture aims to leverage the companies’ geothermal operational experience, combined with core competencies from the traditional oil and gas sector, especially around subsurface, wells, drilling and completions, to advance scalable novel geothermal technologies to tap into the earth’s core geothermal.
In this context, ThinkGeoEnergy conducted an interview with Jesper Jolma, Investment Manager at Baseload Capital and Kimilia Jones, Commercial Manager at Chevron New Energies to discuss why this partnership was formed and what we can expect to come out of it. The full interview is published below.
First of all, congratulations on the joint venture between your companies – each a major player in their own right. A partnership of this scale has the potential to really shake up the geothermal industry and accelerate its growth. What was the driving force that motivated the formation of this partnership?
Jesper Jolma: We don’t have time to wait. The world needs to accelerate the development and utilization geothermal energy. In order to drive a larger adaption and interest in the industry, we believe that geothermal projects need to be developed faster and at a lower cost. And in order to get there, we at Baseload believe that we need to work together with the oil and gas industry to leverage their vast experience in order to do so.
Full interview with Jesper Jolma on ThinkGeo.