Baseload Capital Sweden AB (publ) has, through an investment into a newly started US SPV, entered into a Land Lease Agreement with a landowner located in Wendel, CA. The goal is to set up a power plant on the land, but construction remains subject to permitting and establishing a Power Purchase Agreement with the local municipality. The planned Power Plant capacity is estimated to between 600 and 1350 kW, and construction will commence once all permits and contracts are in place. Baseload believes that the project can be completed during 2021.
In the long term, the US offers a lot of geothermal potential, particularly in the Western part of the country. Once a team has been established, Baseload Power US Holdings INC will continue to evaluate prospective land areas and opportunities.