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URBAN WATER INSTITUTE California’s Geothermal Resource Capability and Opportunity February 2014

URBAN WATER INSTITUTE California’s Geothermal Resource Capability and Opportunity February 2014. Advancing California – Promoting Geothermal .

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URBAN WATER INSTITUTE California’s Geothermal Resource Capability and Opportunity February 2014

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  1. URBAN WATER INSTITUTE California’s Geothermal Resource Capability and Opportunity February 2014

  2. Advancing California – Promoting Geothermal • California needs to value clean resources based on electric capabilities to build a robust and strategic portfolio, and in doing so will realize high paying job creation, meaningful economic development, and creation of new indigenous mineral resources for a low-carbon future. • Hundreds of permanent high paying jobs can be created. 40x solar and 10x wind of equal size providing employment opportunities in poorest county in California. • Billions of dollars in project investments can be made. Built by Californians in California. • Geothermal power is California’s original renewable power source, supports GHG reductions, and available 24/7/365. • Geothermal power produced by EnergySource enables lithium rich brine to be domestically produced into low cost lithium batteries. 1

  3. EnergySource – Invested in California • EnergySource specializes in the development, construction, and operation of geothermal power facilities in the hottest and most prolific U.S. resource, the Salton Sea. • Formed 2006. Invested $400M for 49 MW Hudson Ranch I. Commissioned in 2012; the first new geothermal plant in America’s best field in 22 years. • Created hundreds of jobs in construction, drilling and • operations. • We are focused on the Salton Sea as it is California’s greatest geothermal resource with an additional 1,500+ MWs of power to be harnessed and is the only geothermal resource with mineral recovery potential. 2

  4. Imperial Valley Resource Capability Confidential and Proprietary

  5. EnergySource’s Featherstone Plant 3

  6. Geothermal – A Key Element In A Strategic Portfolio Geothermal power delivers unique capabilities as a clean, renewable resource. • Renewable power available 24/7/365. • Environmentally preferred replacement for imported coal and nuclear. • Smallest land footprint and least habitat impact of any power source (gas, coal, wind, solar, nuclear) • Provides system inertia, which is increasingly important with higher levels of variable resources like wind and solar. • Provides a complement of electrical capabilities that are essential to the electric transmission grid while supporting targeted GHG reductions. 4

  7. A New Chapter: Begins With Geothermal Power Geothermal power is the critical infrastructure needed to develop California’s lithium resourcevital to competitively viable electric vehicles and clean energy storage technologies. BATTERY BRINE Simbol Materials is a critical link in California’s clean energy value chain 7

  8. Simbol: Advancing California’s Clean Energy Goals Simbol Materials will directly support California’s clean energy and economic objectives: Lithium extracted from geothermal brines in California key enabler to EV’s • Simbol’sfirst plant will produce enough lithium for about 800,000 EV batteries per year, • Simbol’s facilities will create 168 jobs in an area with the state’s highest unemployment rate, and, • Simbol’s facilities provides benefits to geothermal power plants, improving the competiveness of California’s renewable energy eco-system. 3.2MM EV’s/yr 2.4MM EV’s/yr 1.6MM EV’s/yr 0.8MM EV’s/yr Number of 50MW geothermal plants Memo: (a) Simbol CUP 12-0005 “Fiscal, Economic, and Employment impact Analysis”; Sept 2, 2012

  9. Advancing California – Promoting Geothermal • 50 years ago, geothermal power pioneered the development of a clean energy economy in California. A new wave of geothermal energy is needed to create: • Complementary electrical capabilities that are essential to the electric transmission grid while supporting targeted GHG reductions. • Real and sustainable jobs for California – each project generates millions in payroll per year. • Local tax and royalty payments for California schools and communities – each project pays millions in taxes per year. • Creates the opportunity for a new paradigm in low cost lithium production with follow on industries and job creation. (No other renewable technology will do more to advance California’s Advanced Clean Car goals than Salton Sea Geothermal) 8

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