August 4th, 2025 
ANCHORAGE, Alaska 

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FOR IMMEDIATE RELEASE

 

GeoAlaska, LLC, (“GeoAlaska”) is pleased to announce that Chugach Electric Association, Inc. (“Chugach”) has provided GeoAlaska with a non-binding letter of interest to acquire geothermal-sourced electricity pursuant to a long-term power purchase agreement (“PPA”).

Chugach’s non-binding letter states that Chugach is interested in working with GeoAlaska to determine the most cost-effective and efficient means to extend transmission infrastructure to connect and deliver baseload geothermal power to the Railbelt grid.

 

GeoAlaska, with its partner company, Ignis Energy, Inc., is exploring for sustainable baseload geothermal power at Augustine Island and Mt. Spurr – both located on the west side of the Cook Inlet. Augustine Island has emerged as GeoAlaska’s leading prospect with an expected power generation capacity of 200+ MW.

Chugach is a member-owned cooperative and Alaska’s largest electric utility, providing safe, reliable, and affordable electric service to more than 90,000 members in Southcentral Alaska. Chugach’s strategic priority is to diversify and decarbonize its future power with an ongoing focus on reliability and affordability.

 

GeoAlaska’s mission is to provide sustainable baseload geothermal power to the benefit of Alaska’s economy and its long-term energy security. GeoAlaska’s CEO, Paul L. Craig, states:

 

“GeoAlaska welcomes the opportunity to collaborate with Chugach Electric Association to provide sustainable geothermal energy to its members.”​

April 22, 2025 
ANCHORAGE, Alaska 

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GeoAlaska, LLC is pleased to announce it was the apparent high bidder on six tracts in the 2025 State of Alaska Augustine Island Competitive Geothermal Lease Sale. This acquisition adds 11,991 acres to GeoAlaska’s growing geothermal portfolio. 

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READ MORE

Guy Oliver (1), Moamen Gasser (2), Marcus Oesterberg (1), Anthony Pennino (3) and Paul Craig (3)  
(1) Ignis Energy Inc., (2) Texas A&M University, (3) GeoAlaska Inc. 

Geothermal Rising Conference / October 2024

Geothermal grid power seems closer than ever

Joseph Jackson

Alaska Business / August 2024

What the legislature does in Juneau is akin to making sausage. It's not always pretty nor does it always turn out exactly as you would hope, but in terms of geothermal policies, HB 50 looks like it is reasonably nutritious.

Kay Cashman

Petroleum News / Week of June 2, 2024

On April 16, GeoAlaska told Petroleum News that effective April 1, the Alaska Department of Natural Resources granted GeoAlaska a geothermal prospecting permit (ADL 394374) covering 7,299 acres on Augustine Island. This acreage expands GeoAlaska's existing geothermal footprint at Augustine Island by 240%, encompassing the entire southern half of the island.

Kay Cashman

Petroleum News / Week of April 21, 2024

The Alaska Department of Natural Resources' Division of Oil and Gas issued the final written finding of the director on Jan. 10 for the 2024 Augustine Island noncompetitive geothermal prospecting permit and having found that issuing the permit is in the best interests of the state will award the permit to GeoAlaska LLC to explore for geothermal resources on state-owned unencumbered lands within the prospecting permit area. 

Kay Cashman

Petroleum News / Week of January 18, 2024

Many people in the Kenai Peninsula get their electricity from natural gas. Geothermal energy developer GeoAlaska is looking to change that. Late last month, they began collecting data of magnetic and gravitational forces on Mount Augustine to determine if there are any viable geothermal reservoirs.

KBBI | By Jamie Diep
Published August 15, 2023

Another geothermal lease sale is being prepared for Mount Spurr in Alaska with a 10-year term that allows for long-term planning and execution.

Carlo Cariaga 
9 Aug 2023

GeoAlaska collecting geophysical data for geothermal, huge step forward

Kay Cashman

Petroleum News / Week of August 06, 2023

Mount Spurr, 80 miles from Alaska’s biggest city, was the site of past lease sales and ambitions — new policies might help make development a success, the division says.

Yereth Rosen - August 5, 2023

GeoAlaska files plan, will use non-intrusive subsurface geophysical measurements.

Kay Cashman

Petroleum News / Week of June 18, 2023

Partners with GeoAlaska to explore for and deliver geothermal energy

Kay Cashman

Petroleum News / Week of March 05, 2023

Ignis with sister company Geolog will be working with GeoAlaska to explore for and deliver geothermal energy to Alaska.

Carlo Cariaga
ThinkGeoEnergy 2 Mar 2023

Mount Spurr exhibits all parameters for a potential geothermal energy source.

Alan Bailey

for Petroleum News / Week of October 16, 2022

The Alaska Department of Natural Resources’ Division of Oil and Gas has issued a final written finding and decision for a noncompetitive geothermal prospecting permit requested by GeoAlaska LLC.

Kristen Nelson

Petroleum News / Week of July 10, 2022

South Augustine Island noncompetitive geothermal prospecting permit would be issued for two years, with possible extension

Kristen Nelson

Petroleum News / Week of May 08, 2022

The State of Alaska has issued a preliminary approval for geothermal exploration on Augustine Island to developer GeoAlaska.

Alexander Richter
ThinkGeoEnergy 3 May 2022

CORRI A. FEIGE

Commissioner, Alaska Department of Natural Resources

Petroleum News / Week of June 06, 2021

Pt 2 of 2: Data-rich GeoAlaska off to good start hunting Mt. Spurr reservoirs

Kay Cashman

Petroleum News / Week of June 06, 2021

Part 1: Craig gets Northwest Mount Spurr geothermal exploration license

Kay Cashman

Petroleum News / Week of May 30, 2021

With a concrete project under development at Unalaska and increased interest in development at Mount Spurr, geothermal gets more attention in Alaska.

Aexander Richter
ThinkGeoEnergy 22 May 2021

Alaska’s Division of Oil and Gas has issued a preliminary finding, proposing the issuance of a permit to GeoAlaska LLC for geothermal exploration on state land tracts on the southern flank of Mount Spurr, an active volcano about 80 miles west of Anchorage.

Alan Bailey

Petroleum News / Week of April 04, 2021