EMERGING ENERGY
The Permian Basin of West Texas has long been established as an important energy producing region. With large swaths of open land, the ever-evolving energy landscape continues to bring new opportunities to this area. The economics of developing emerging energy and low-carbon resources have become increasingly viable, with federal initiatives and tax credits spurring additional interest in PUF Lands. While wind and solar currently are the most common alternative energy resources operating on PUF Lands, there are numerous emerging energy projects under consideration. Although emerging energy sources offer UL new potential revenue opportunities, the market, infrastructure, technology, and policies still need further development. University Lands is committed to carefully and diligently evaluating development opportunities to effectively implement sustainable projects. A research partnership with UT Austin’s Bureau of Economic Geology was launched in September 2022 to gain a greater understanding of emerging energy opportunities and challenges on PUF Lands, including hydrogen generation and subsurface storage, critical minerals and elements, carbon sequestration, and geothermal energy. The research is expected to be completed in the spring of 2024.
“Many of the emerging energy opportunities are complementary to each other and to existing land use, such as the production of oil and gas, but strategic project placement is necessary in order to create the best and highest land utilization to drive revenue for generations to come.”
A new emerging energy position was created at the end of FY23 to bring additional expertise to the development of the emerging energy strategy on PUF Lands in FY24.
Kate Champion, Senior Vice President & Chief Legal Officer
Projects
SOLAR
5 Leases 7.4K Acres ~900MW Capacity
WIND
6 Leases 86.2K Acres ~775 MW Capacity
BESS
14 Projects Under Contract
Solar Facility
Wind Farm
33
Battery Energy Storage System (BESS)
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