BHE Renewables, a subsidiary of Berkshire Hathaway Energy owns solar, wind, geothermal, and hydroelectric projects that produce electricity for the wholesale market and customers under long-term agreements.
BHE Renewables produces geothermal energy and operates 10 facilities in California’s Imperial Valley which produces 345 megawatts of electricity. The company’s geothermal brines contain relatively high concentrations of lithium which presents a lucrative opportunity for revenue generation. By extracting lithium from these brines, the company can tap into the growing demand for battery-grade lithium, providing a significant additional revenue stream alongside its core operations.
On June 4, BHE Renewable announced a joint venture with Occidental (NYSE:OXY) to deploy its TerraLithium’s Direct Lithium Extraction (DLE) technology to extract and commercially produce high-purity lithium compounds from geothermal brines in California’s Imperial Valley. The successful extraction of lithium from these geothermal plants is projected to yield around 90,000 metric tons of lithium carbonate equivalents annually, enough to power approximately 11 million electric vehicle batteries each year. This production capability will provide a significant revenue opportunity and position the company as a key player in the growing lithium supply chain.
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