Mike Enger, the utility's vice president for energy markets and resource planning, emphasized that enhanced geothermal technology offers 'baseload carbon-free generation much like a nuclear power plant does,' but potentially at a lower cost. This technology is incredibly reliable, as it generates power 'each and every hour' and is 'totally unaffected by the weather.' Enger believes that if Austin Energy can successfully address the challenges of this innovative approach, they will be able to scale it and provide energy at a competitive price compared to nuclear power.
Austin Energy is partnering with Exceed Geo Energy to implement enhanced geothermal technology, which involves drilling deep into the earth and utilizing supercritical CO2 to generate steam and turn a turbine for electricity production. Enger highlights that the geology of Texas, especially in East and South Texas, is favorable for such operations, with heat sources located closer to the surface, enabling more efficient energy extraction. Their agreement to purchase power from this plant is crucial in facilitating the project's financing without upfront costs.
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