Akin Gump Reps Schlumberger New Energy in JV with Thermal Energy Partners to Create GeoFrame Energy
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(Houston) – Akin Gump represented Schlumberger New Energy, a new Schlumberger business focused on low-carbon and carbon-neutral energy technologies, in its agreement with Thermal Energy Partners to create GeoFrame Energy, a geothermal project development company.
GeoFrame Energy will leverage its partners’ expertise to develop efficient and profitable geothermal power generation projects, providing an opportunity to support a reliable supply of clean energy.
GeoFrame Energy will benefit from the partners’ project execution, drilling, subsurface evaluation and digital technology integration expertise, combined with systems engineering, modeling, data analytics and machine learning capabilities. GeoFrame Energy will create new avenues for growth of the geothermal industry, while also attracting investment from various financial institutions.
The new company’s first project is the 10-MW Nevis Geothermal Power Project on the Caribbean island of Nevis, which will enable the island to transition to 100 percent zero-emission renewable energy for its power supply. GeoFrame Energy has additional opportunities to expand production in the Eastern Caribbean and in North and South America.
The Akin Gump team advising Schlumberger New Energy was led by partner Rob Shearer and included partners Matthew Kapinos and Alison Chen.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
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