Chevron and Baseload Capital to form a joint venture.

Chevron, an American multinational energy corporation, and Baseload Capital, a specialized investment entity that funds the deployment of heat power worldwide, agreed to form a joint venture to develop geothermal projects in the United States. Financial terms were not disclosed. The two companies will collaborate on driving geothermal opportunities – including identifying the best prospects for development, operations and progressing the next generation of geothermal technologies from pilot to commercial scale. Through this agreement, Chevron and Baseload Capital will work together to create awareness around geothermal energy which will be a critical supply option for renewable energy.