Reuters reports that Chevron is creating a joint venture with Swedish investment and development firm Baseload Capital to develop geothermal projects in the United States.
- The joint venture has already identified Weepah Hills, Nevada as the site of the first geothermal project.
- Geothermal is a largely untapped energy source and can deliver reliable, carbon free-power by tapping into heat from the Earth’s core.
- The Department of Energy estimates that geothermal could provide 8.5% of the country’s electricity generation by 2050.
- Chevron and Baseload Capital are showing how private sector leadership can accelerate energy innovation.
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