Net Power signed agreements to secure rights to acquire 123 MW of gas-fired generation equipment for Project Permian’s first phase.
A $20 million deposit under a deposit and exclusivity deal will be credited at closing, expected in the third quarter.
The added equipment would lift potential first-phase capacity to nearly 200 MW.
Cost-reimbursement agreement with prospective customer
A prospective customer entered a cost-reimbursement agreement covering certain documented third-party procurement and development costs, subject to a cap.
The reimbursement framework does not commit either party to an energy services agreement or any power purchase.
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