Goliad County is especially enticing as a market because of the impending closure of the Coleteo Creek Power Plant. This is a coal-fired power plant that is scheduled to close by 2027. As Goodwin explained, the decommissioning of the power plant will result in loss of installed power capacity and tax revenue for the county.
A geothermal development in coastal Texas will involve drilling through and extracting heat from sedimentary rocks, such as sandstone. Geothermal Core has the appropriate technology and expertise on sedimentary rock, in huge part due to data from previous drilling activities.
Earlier this year, Geothermal Core entered into a Joint Venture with GEG, ehf, a geothermal developer and EPC company. The partnership, aimed at developing the first utility-scale geothermal power plant in Texas, combines Geothermal Core’s subsurface engineering and operations expertise drawn from the oil and gas sector with GEG’s proven expertise in the design and construction of geothermal power plants.
