TransAlta Corporation announced today that CalEnergy, LLC, a new special purpose entity and Joint Venture with MidAmerican Energy Holdings Company, had executed an 86 MW long-term contract for renewable geothermal power with the City of Riverside, east of Los Angeles.
Under the Power Purchase Agreement (PPA), which runs from 2016 to 2039, CalEnergy will provide the power from a portfolio of geothermal generating facilities in California's Imperial Valley.
The 24-year PPA builds on an existing relationship with the City of Riverside and represents 25 per cent of the total capacity of the Imperial Valley geothermal facilities. CalEnergy is continuing its work to market the remainder of the capacity from the 10 geothermal facilities as the existing contracts roll off.
