Cortus recently announced the BioMAT queue approval for the Mariposa-project. An approval by Pacific Gas & Electric (PG&E), the largest combined natural gas and electric energy company in the United States. The BioMAT program is giving 20 years of subsidized electricity contracts through a reverse auction administrated by PG&E. But what does this actually mean?
For Cortus’ project in Mariposa it means a secured income for 20 years, or $90 000 000 if fully utilized. Further this minimizes the risk for Cortus, partners and investors. The aim of the Mariposa-project is to build a Cortus plant in Mariposa County. This on a site already secured, and with, already secured, financial support from California Energy Commission (CEC). For Cortus this is very thrilling since California is one of the most exciting markets for renewable energy. A Cortus plant in Mariposa can stand out as a demonstration site for upcoming projects, also in other fields, such as for hydrogen and RNG (renewable natural gas) projects.
- Initiated in 2016 together with Mariposa Biomass Project
- Aim of using rest products from sustainable foresting to produce renewable electricity
- A project development agreement was signed in 2016
- A grant of $5 000 000 from California Energy Commission was secured in 2017
- A Conditional User Permit (CUP) for the project was received in 2018
- Land for a first biomass facility (6MW size) in Mariposa County was identified and procured in 2018
- Bioenergy Market Adjusting Tariff is a feed-in tariff program for small bioenergy companies
- Small in this sense means less than 5MW renewable electricity generators
- Initiated in 2017 with an offered price at a current level of $199.72/MWh
- The program offers up to 250MW to eligible projects
- It’s a fixed-price standard contract to export electricity to California’s three large investor owned utilities (IOUs)
- The small-scale bioenergy projects can be procured in three categories where Cortus applies for Category 3 (bioenergy using byproducts of sustainable forest management)
Press release: https://newsroom.notified.com/cortus-energy-ab/posts/pressreleases/mariposa-projektet-godkant-for-biomat-program-1