USA, California:

CalEnergy Executes a Long-Term 50 MWe PPA in the Imperial Valley (Stockhouse - Press Release)

The Salton Sea in the Imperial Valley, CA

TransAlta Corporation has announced that CalEnergy, LLC, a joint venture it has with MidAmerican Energy Holdings Company in the Imperial Valley, Southern California, has executed a 50 MW long-term Power Purchase Agreement (PPA) for renewable geothermal power with Salt River Project (SRP), an Arizona utility.

Highlights include:

• Duration of PPA is 24 years, or 2016 to 2039;
• SRP contract reflects 15% of the capacity of CalEnergy's geothermal facilities, bringing the total contracted capacity to 40%; and
• CalEnergy continues its work to market the remainder of the capacity from the 10 geothermal facilities, as the existing contracts roll off.

In May, 2013, MidAmerican Energy Holdings Company and TransAlta Corporation announced today the formation of CalEnergy, LLC, a new special purpose entity that will allow CalEnergy to market reliable green power in a new way.

The 340 MWe contract capacity available for this remarketing initiative is one of the largest single geothermal remarketing exercises to be pursued in North America, which will extend the operating life of all 10 facilities in the Imperial Valley region of California for another 25 years.

The geothermal facilities around the Salton Sea will be a feature of a GRC Field Trip after the GRC Annual Meeting & GEA Expo in Las Vegas, Sept. 29-Oct. 3.

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