Clean energy developer Hexagon Energy (Hexagon) has announced the closing of a strategic agreement with Weyerhauser Company (Weyerhauser) for the development of geothermal projects across a suite of landholdings through Weyerhauser’s land portfolio in the states of Washington and Oregon in the United States.
Under this agreement, Hexagon Energy will develop geothermal projects on Weyerhaeuser’s landholdings across two critical states with significant geothermal power generation potential. Hexagon has leased the geothermal rights on approximately 145,000 acres across Washington and Oregon. The company envisions developing a geothermal portfolio of over 3 GW capacity.
“We are excited to partner with Weyerhaeuser to develop this significant geothermal resource and bring abundant, clean, baseload energy to the Pacific Northwest.” said Matthew Hantzmon, Chief Executive Officer of Hexagon Energy. “Our team is grateful that Weyerhaeuser entrusted us to unlock this valuable asset for them.”
Hexagon Energy is a clean energy company with a portfolio of utility-scale wind, solar, standalone storage, and geothermal development across the United States. Hexagon covers the full spectrum of development and finance, including market analysis, environmental diligence, site control, transmission analysis, community engagement, state and local permitting, engineering, and financial modeling.
For Weyerhauser, the agreement aligns with their commitment to responsible land stewardship, including recreation, conservation, economic development, and different forms of renewable energy. The company is one of the world’s largest private owners of timberlands and a leading manufacturer of wood products in North America.
“Geothermal energy represents an emerging opportunity to provide clean and reliable, around-the-clock power, and our ownership presents a unique platform to evaluate that potential in the Pacific Northwest,” said Kendall Fountain, Vice President of Energy and Natural Resources for Weyerhaeuser. “This agreement supports the continued growth of our Climate Solutions business while aligning with our commitment to responsible land stewardship, sustainability and long-term value creation.”
Source: Email correspondence
