Cadiz Signs Agreement With El Paso Natural Gas For Long-Term Power Supply
Portfolio Pulse from Benzinga Newsdesk
Cadiz, Inc. (NASDAQ: CDZI/CDZIP) has entered into a long-term contract with El Paso Natural Gas Company to install a gas tap on their pipeline running through Cadiz Ranch property. This will allow Cadiz to replace diesel engines with natural gas engines for its operations, reducing energy costs and carbon emissions. The tap is expected to deliver new gas power to Cadiz by Q4 2024. Earlier this year, Cadiz selected Scale Microgrids to develop clean energy microgrids for its facilities.
October 24, 2023 | 4:42 pm
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Cadiz's long-term contract with El Paso Natural Gas will allow it to reduce energy costs and carbon emissions, potentially improving its profitability and sustainability. The new gas power is expected by Q4 2024.
The contract with El Paso Natural Gas will allow Cadiz to replace diesel engines with natural gas engines, reducing energy costs and carbon emissions. This could improve Cadiz's profitability and sustainability, making it more attractive to investors. The impact is expected to be seen by Q4 2024.
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