PG&E approve Mariposa Biomass Project for the BioMAT program
In the United States (US), energy utility Pacific Gas & Electric Company (PG&E) has approved the Cortus Energy North America Inc, a subsidiary of Sweden-headed biomass gasification technology developers Cortus Energy AB, and the Mariposa Biomass Project in California (CA) for the supply of 2.7 MW of electricity under the BioMAT program.
According to a statement, this means that Cortus Energy can participate in upcoming auctions within the Bioenergy Market Adjusting Tariff (BioMAT) program for contracts for 20 years of electricity supply for the Mariposa Biomass Project.
A feed-in tariff program for small bioenergy renewable generators less than 5 MWe in size, Califonia’s BioMat program applies a reverse auction procedure where Cortus will now be able to reach the highest electricity price (US$199.97 per MWh).
With approval for participation in upcoming auctions for a twenty-year subsidized electricity contract, the Mariposa project’s revenues will be secured. For Cortus and the company’s partners and co-investors, this means that the risk in the project has decreased.
Through our place in the queue, we can now steer the project in Mariposa forward with less risk. With the new partners and collaborations that Cortus is working with, we can hopefully soon take the step into California, perhaps the most exciting and hungry market for renewable energy right now, said Håkan Sigfridsson, CEO of Cortus Energy.