California Resources partners with Net Power for Golden State projects
California Resources Corporation (CRC) said December 9 it had signed a memorandum of understanding (MoU) with Net Power to develop NET Power’s gas-fired, “ultra-low carbon” power plants in the Golden State.
The MoU, between CRC’s carbon management business Carbon TerraVault (CTV), calls for the partners to conduct feasibility studies on locating NET Power’s facilities in close proximity to CTV’s underground storage vaults.
Initial plans call for the deployment of 1 GW of power capacity from NET Power’s new modular plants in northern California and the potential to capture and store up to 3.6mn tonnes/year of CO2 emissions in CTV’s nearby sequestration sites. Each NET Power modular facility is expected to require less than 20 acres and generate up to 250 MW, deployable in multi-plant configurations.
NET Power’s technology generates electricity in a closed loop, first combusting natural gas with pure oxygen to produce CO2 and water, which is mixed with recirculated CO2 and used to spin a turboexpander, which produces power. When exhaust from the turboexpander cools, water and byproducts are removed, leaving CO2, most which is compressed and recirculated back to the turboexpander, with a small amount leaking out to be easily captured and sequestered.
“This partnership with Net Power combines our strategically located carbon storage and natural gas assets with California’s call for more clean power,” CRC CEO Francisco Leon said. “We are solidifying our position as a leader in carbon management solutions in the Golden State.”
The MoU represents Net Power’s initial entry into the California power market, the second largest in the US behind only Texas, and positions CTV as an early strategic partner in the deployment of Net Power’s technology. Including the partnership with Net Power, CTV has some 7.8mn tonnes/year of carbon capture and sequestration (CCS) under consideration which, if successful, would underpin up to 2.1 GW of new low-carbon power capacity in California.