A Cornish energy developer has signed a joint venture (JV) deal with an American town to deliver a £10 million geothermal project that will be the first of its kind in the US.
The agreement will see Falmouth-based Mimer Energy provide geothermal heating and cooling for businesses and municipal buildings in a district of West Warwick in Rhode Island, 50 miles south of Boston on the east coast of America.
The project will also include elements of wind, solar and hydro power to reduce the reliance on grid electricity and provide low carbon energy for customers at fixed cost, making it commercially attractive.
The project, which is expected to be completed as early as next year, follows Mimer’s build, operate and transfer model.
The company has established a joint venture subsidiary to build and then operate £10 million of renewable energy infrastructure in West Warwick for a period of 15-20 years, after which it transfers to the local community as a self-sufficient micro-utility.
Mimer Energy CEO Brian Kennelly said: “West Warwick will become the first area in the US to use geothermal energy on a village scale. Combined with the other renewables technologies this is a great opportunity to be involved in the regeneration of an industrial town to provide energy in a way that will really benefit the community.
“West Warwick is showing real leadership and I believe this project will become a great ambassador for geothermal technology and the innovative business model which enables Mimer to work in partnership to create local employment and other economic benefits.”
As well as the UK and US markets, Mimer Energy is also looking at opportunities in Sweden, the Middle East, Africa and Asia.