Project Details
About This Project
Executive Overview
Valmy Advanced Geothermal is a 20 MW closed-loop geothermal project under development in Humboldt County, Nevada, developed by Eavor Technologies under a 25-year power purchase agreement with NV Energy. The agreement was filed as part of the Fourth Amendment to NV Energy's 2021 Integrated Resource Plan and approved by the Public Utilities Commission of Nevada. The project forms part of NV Energy's broader plan to replace the 524 MW Valmy coal-fired power plant with round-the-clock renewable capacity. Eavor Technologies' Nevada project is noted as the company's first commercial power purchase agreement, and investments to fund at least five Eavor facilities globally have been committed.
How It Works & Differentiation
Eavor's closed-loop Eavor-Loop system circulates a working fluid through sealed underground wells in a radiator-like configuration, extracting geothermal heat without hydraulic fracturing, fluid extraction from the reservoir, or reliance on naturally occurring hydrothermal resources. The system can operate in both baseload and dispatchable modes, with load-following capability that distinguishes it from conventional geothermal plants, which typically run at fixed output. The project's capacity of 20 MW is structured in phases, each with a minimum expected energy capacity rating of 4 MW, with aggregate rated capacity between 16 and 20 MW. The PPA pricing is set at a flat rate of $70 per MWh over the 25-year contract term, compared to $89 per MWh for the NuScale SMR alternative considered by regional utilities.
Commercialization & Traction
NV Energy's formal PPA, filed with and approved by the PUCN, provides a committed offtake and revenue certainty for the project's 25-year term from commercial operation. The contract's commercial operation deadline for the final phase is set at no later than 31 December 2028, with a calibration period of up to 24 months post-PUCN approval to finalise phase structure. NV Energy concurrently contracted 120 MW of conventional geothermal with Ormat under similar 25-year terms, reflecting the utility's strategic commitment to geothermal as the primary replacement for retiring coal capacity. The project is Eavor's first operational PPA, giving it particular significance as a commercial proof point for the company's technology.
Scalability & Strategic Context
The Valmy project is the first commercial-scale deployment of Eavor-Loop technology under a long-term utility contract, and its performance will directly inform Eavor's five-facility global pipeline. Nevada's coal retirement programme and the state's prioritisation of dispatchable renewables create a favourable regulatory environment for subsequent geothermal development. The project's flat-rate PPA pricing compares favourably against both conventional alternatives and advanced nuclear, reinforcing the economic case for closed-loop geothermal as a coal replacement technology in regions with adequate subsurface heat resources.
Project Timeline
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Further Reading
Nevada is Making Space for Dispatchable Green Energy Amidst Energy Instability in the Southern American States
The article discusses Nevada's efforts to enhance energy security and address instability in southern American states by implementing dispatchable green energy projects, including large-scale battery storage and innovative geothermal systems like Eavor-Loop™ as part of a broader transition to renewable energy.
Geothermal Resources Offer a Ramp Up for Risky, Costly Nuclear Project
The article argues that geothermal energy proposals in Nevada offer a cheaper, less risky, and more reliable alternative to the costly and uncertain small modular nuclear reactor project being pursued by Utah Associated Municipal Power Systems.
Fourth Amendment to the 2021 Integrated Resource Plan of Nevada Power Company d/b/a NV Energy
The document is a regulatory filing before the Public Utilities Commission of Nevada, detailing the Fourth Amendment to the 2021 Joint Integrated Resource Plan by NV Energy and Sierra Pacific Power Company, including a long-term renewable power purchase agreement with Eavor Inc. for geothermal energy, technical appendices, and related regulatory, operational, and contractual provisions for a new geothermal facility in Humboldt County, Nevada.
Ormat Technologies Signs Two PPAs With NV Energy for Up to 160 MW of Geothermal Capacity
Ormat Technologies announced it has signed two Power Purchase Agreements with NV Energy for up to 160 MW of geothermal capacity to supply renewable energy in Nevada over the next 25 years, supporting the state's clean energy goals and economic growth.