California Resources Signs MOU to Drive Decarbonized Power Solutions

Core Insights - California Resources Corporation (CRC) has formed a partnership with Middle River Power (MRP) to enhance its carbon management business, focusing on carbon capture, transportation, and sequestration services for MRP's power facilities in California [1][2][5] Partnership Details - The collaboration is formalized through a Memorandum of Understanding (MOU), which outlines shared goals for sustainable energy solutions, with CRC's Carbon TerraVault business providing carbon capture and sequestration (CCS) services to MRP's power plants [2][5] - The initial focus will be on two power plants in California: the High Desert Power Plant in Victorville, generating 850 megawatts (MW) and emitting up to 2.1 million metric tons of CO2 annually, and the San Joaquin Energy Center in Tracy, producing 330 MW with a CO2 output of 0.65 million metric tons per year [3][9] Technological Innovations - The partnership aims to evaluate and develop innovative CCS technologies, leveraging CRC's existing infrastructure and resources to significantly reduce the carbon footprint of California's power sector [4][10] Legislative and Regulatory Context - California's progressive regulatory environment supports carbon transportation and storage, providing a favorable backdrop for CRC and MRP to accelerate their decarbonization efforts and help meet the state's greenhouse gas reduction targets [11][12] Future Opportunities - The MOU represents the beginning of a collaboration that both companies hope will lead to additional decarbonization opportunities in California, contributing to broader decarbonization objectives [13][14] Commitment to Sustainability - The partnership signifies a strong commitment to sustainable energy, with CRC and MRP focusing on carbon capture and sequestration to help California meet its climate goals while evolving the power sector [15]