The partners plan to make Aera carbon neutral in 10 years, continuing to meet California’s conventional energy demands while building up carbon capture and storage alongside a renewable energy portfolio including solar to power Aera’s existing operations.
“That runoff actually works quite well with increased steps to build that renewable power and decarbonization on site.” The Hamburg-based asset manager has owned and operated other U.S.-based energy assets, including former BP gas operations in Colorado and New Mexico.
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