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Monday, Jul 15, 2024

Capstone Green Energy Hits Turbine Rental Goal

Capstone Green Energy Corp. said it would reach a goal of 50 megawatts of microturbines under rental contract by March 31.

The Van Nuys-based manufacturer recently secured an energy-as-a-service rental contract of 5 megawatts from a West Texas oil and gas production site. The five microturbines are expected to be operational in May.

Darren Jamison, chief executive of Capstone, said that the oil and gas industry has seen the benefits of its microturbines for many years.

“Our focus remains on our EaaS (energy as a service) rental business deployment and the attributes it brings us, including higher margin rates, predictable revenues, and positive cash flow, while transitioning us away from being only a manufacturing company,” Jamison said in a statement.

Capstone microturbines are used across oil and gas applications – upstream, midstream, and downstream – because they offer flexible, responsive power generation that can easily adjust to fluctuating or seasonal energy demands, reducing fuel usage and maintaining high levels of efficiency. They can also be powered by on-site production gas, like these units will be, eliminating the need for a secondary fuel source, according to a release from Capstone.

The contract was secured by Lone Star Power Solutions, Capstone’s exclusive distributor in Texas, Arizona and the Gulf States.

Douglas Demaret, president of Lone Star, said that the customer came to the company with the challenge of improving operational reliability while at the same time reducing their greenhouse gas emissions.

“Replacing reciprocating engines with Capstone microturbines allowed them to do both with the added benefit of reduced trips to the site due to our low preventative maintenance requirements,” Demaret said in a statement.

James Brock
James Brock
James Brock has worked in newsrooms around the world, including in New York, Paris, Abu Dhabi, Dubai, Houston, and Los Angeles. He began his career with a Newhouse News daily, where he served on the news desk and the editorial page. He was the copy chief for The New York Sun, and founded and edited the personal finance section for Abu Dhabi-based The National, among other positions. He has interviewed Anthony Bourdain, Tom Ford, Mark Cuban, and many other individuals, and has written and edited thousands of stories and articles.

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