TUE, NOV 29, 2022 07:30 CET
Baseload Capital and Orcan Energy are pleased to announce the commissioning of a first project utilizing waste geothermal from existing oilfield operations at Chevron U.S.A. Inc.´s (Chevron) San Ardo oil and gas field in California, USA. Baseload Capital is the project operator, collaborating with leading cleantech company Orcan Energy providing the state-of-the-art geothermal-to-power technology. The project, which started operations in July 2022, demonstrates the potential of using existing oil and gas wells for reliable and cost-effective renewable power production.
Up to 90% of the fluid produced from oil and gas wells is hot water – a source of geothermal energy waiting to be fully tapped. When paired with next-generation Organic Rankine Cycle (ORC) equipment, it can leverage that potential geothermal from the water to produce clean electricity at minimal costs. Baseload Capital and Orcan Energy’s project with Chevron showcases the significant opportunities for the oil and gas industry to develop renewable energy and will pave the way for similar projects at other sites worldwide.
