The greenest reason to drill: clean geothermal power that's always on
Zero: The Climate Race
Trust Builds Financial Leverage
The project, known as Project Cape in Utah, involves a phased approach starting with a 100-megawatt plant set to cost over $500 million and expected to come online by 2026. A significant portion of the required financing will come from debt, but due to the perceived novelty of the technology, only 20-30% of the project can be financed through debt compared to the 50% or more typical for established technologies. The project's strong progress includes successful drilling of wells, engineering completion, and secured offtake and transmission permits, which collectively enhance its financial trustworthiness for future investments.
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