GeoAlaska receives LOI for power offtake for Mount Augustine geothermal project
Augustine Volcano, Alaska (source: Coombs, M. L. / Alaska Volcano Observatory / U.S. Geological Survey)
Carlo Cariaga
5 Aug 2025
GeoAlaska has received a letter of interest for power offtake from a local utility for the company's planned 200-MW geothermal power facility in Augustine Island.
GeoAlaska LLC has announced that the company has now received a non-binding letter of interest from the Chugach Electric Association Inc. (Chugach) to acquire geothermal-sourced electricity, pursuant to a long-term power purchase agreement (PPA). The electricity will be generated from GeoAlaska’s proposed 200-MW geothermal facility in Augustine Island, the company’s leading prospect.
Chugach is a member-owned cooperative and Alaska’s largest electric utility, providing electric service to more than 90,000 members in southcentral Alaska. Part of the strategic priority of Chugach is to diversify and decarbonize its future power with an ongoing focus on reliability and affordability.
The non-binding letter states that the utility is interested in working with GeoAlaska to determine the most cost-effective and efficient means to extend transmission infrastructure to connect and deliver baseload geothermal power to the Railbelt grid.
“GeoAlaska welcomes the opportunity to collaborate with Chugach Electric Association to provide sustainable geothermal energy to its members,” said Paul L. Craig, CEO of GeoAlaska. GeoAlaska’s mission is to provide sustainable baseload geothermal power to the benefit of Alaska’s economy and its long-term energy security.
About a month ago, GeoAlaska and partner Ignis H2 Energy announced plans for geothermal drilling at Mt. Augustine, with the planned well targeting both the shallow (200–350°C) and deeper (350–400°C) targets beneath the volcano’s southern flank.
Source: GeoAlaska LLC via LinkedIn
