power player

Why Rice University is 'deeply connected' to Houston's energy industry

Peter Rodriguez, dean of Rice University's Jones Graduate School of Business, shares how the school is intrinsically and intentionally linked to the Houston energy community. Photo courtesy Annie Tao/Rice University

Houston is known as the energy capital of the world, and the industry is ingrained into Rice University's DNA — especially the university's business school.

"We are deeply connected — and have been for a long time," says Peter Rodriguez, dean of Rice University's Jones Graduate School of Business. "One of the five pillars of our strategy is to be the leading business school in the country for the studying and the advancement for the energy transition and decarbonization of the economy. We think we can be the premiere school for training people for this rapidly evolving field of energy and to promulgate great research."

One of the recent way the school has connect its student body to the Houston business community is through its recent Rice Energy Finance Summit, which took place last month. The student-led program has been ongoing for 15 years and gives students a chance to work with business leaders in the energy sector.

"It's aimed at something that's increasingly important now, which is thinking about energy transition and how do you really navigate the process," Rodriguez says. "It's an incredibly complex organization of many disprite units and government to pull off — and the finance side of that is particularly challenging."

This year, Rodriguez says the event had a packed house and even some wrap-around events, including a pitch competition. And he expects next year to be a continuation of that success.

Rodriguez shares more about what he's accomplished in his tenure as dean on the Houston Innovators Podcast.


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This article originally ran on InnovationMap.

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A View From HETI

Shell has entered a 15-year agreement to be the first offtaker to receive electrons from Fervo Energy's flagship geothermal development in Beaver County, Utah, known as Cape Station. Photo via fervoenergy.com

Beginning in 2026, Shell will be able to apply 31 megawatts of 24/7 carbon-free geothermal power to its customers thanks to a new 15-year power purchase agreement with Houston next-gen geothermal development company Fervo Energy.

“This agreement demonstrates that Fervo is stepping up to meet the moment,” Dawn Owens, VP, Head of Development & Commercial Markets at Fervo, said in a news release.

Shell will become the first offtaker to receive electrons from Fervo's flagship geothermal development in Beaver County, Utah’s Phase I of Cape Station. Cape Station is currently one of the world’s largest enhanced geothermal systems (EGS) developments, and the station will begin to deliver electricity to the grid in 2026.

Cape Station will increase from 400 MW to 500 MW, which is considered by the company a major accomplishment due to recent breakthroughs in Fervo’s field development strategy and well design. Fervo is now able to generate more megawatts per well by optimizing well spacing using fiber optic sensing, increasing casing diameter and implementing staggered bench development. This can allow for a 100 MW capacity increase without the need for additional drilling, according to the company.

With the addition of the new Shell deal, all 500 MW of capacity from Fervo’s Cape Station are now fully contracted. The deal also includes existing agreements, like Fervo’s PPAs with Southern California Edison and an expanded deal with Clean Power Alliance that adds 18 MW of carbon-free geothermal energy to the company’s existing PPA with Fervo.

“As customers seek out 24/7 carbon-free energy, geothermal is clearly an essential part of the solution,” Owens said in the release.

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