California Resources Corporation (CRC) and its carbon management division, Carbon TerraVault (CTV), have signed a Memorandum of Understanding (MOU) with Net Power Inc. to develop ultra-low emission power plants in California. The collaboration aims to combine Net Power’s power plants with CTV’s carbon sequestration solutions, supporting California’s efforts to cut carbon emissions and ensure a reliable energy supply.
The MOU includes feasibility studies to determine the best locations for Net Power’s facilities near CTV’s underground carbon storage sites. The partnership plans to locate plants near CTV’s reservoirs, reducing CO2 transportation costs and minimizing midstream investments in carbon storage.
Also read: Carbon Clean Signs MoU with PETRONAS for Strategic Carbon Capture Evaluation
Deployment of Modular Plants and CO2 Sequestration
The collaboration plans to deploy up to 1 gigawatt (GW) of power capacity from Net Power’s modular plants in Northern California. These plants capture and permanently sequester up to 3.6 million metric tons of CO2 annually in CTV’s nearby reservoirs. Each modular plant will generate up to 250 megawatts of power, requiring less than 20 acres of land. The plants will be deployable in multi-plant configurations to scale up capacity.
Also read: Cairn Oil & Gas Signs MoU with UNEP to Join Global Methane Partnership
The partnership seeks to help California achieve its ambitious greenhouse gas reduction targets by offering a reliable, low-carbon energy source. Net Power’s plants produce electricity, virtually eliminate carbon emissions, and greatly reduce air pollutants such as nitrogen oxides (NOx) and sulfur oxides (SOx), supporting the state’s strict air quality standards and environmental objectives.
Francisco Leon, President and CEO of CRC said, “This partnership with Net Power combines our strategically located carbon storage and natural gas assets with California’s call for more clean power. We are solidifying our position as a leader in carbon management solutions in the Golden State.”
He added, “CRC is committed to advancing innovative clean energy solutions while attracting new investments to California. Together, we are working to meet our State’s critical power needs with new, reliable, and low carbon energy.”
This MOU marks Net Power’s entry into California’s power market, with CTV as a key partner. The collaboration supports CRC’s clean energy strategy. CTV’s carbon capture projects could sequester 7.8 million metric tons of CO2 annually, enabling 2.1 GW of low-carbon power.
