Deposit deal gives Net Power rights to 123 MW of equipment
Net Power struck a deposit and exclusivity deal for rights to acquire 123 MW of gas-fired generation equipment.
A $20 million deposit was paid and will be credited at closing; closing is targeted for the third quarter, subject to consents and definitive documents.
The deal would lift potential first-phase Project Permian capacity to nearly 200 MW.
A separate cost-reimbursement agreement lets a prospective customer repay certain documented third-party procurement and development costs, subject to a cap.
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