Conduit Power Secures Diamondback Energy and Granite Ridge Resources as Financial Partners for ERCOT Distributed Generation Project

Conduit Power has secured financial agreements with Diamondback Energy and Granite Ridge Resources to develop 200 MW of distributed natural gas power generation in ERCOT. The new generation assets will be strategically located across ERCOT's Load Zone West to increase grid reliability and help stabilize power supply and demand imbalances. Diamondback and Granite Ridge will commit to fixed capacity payments in exchange for a preferred share of power proceeds generated by Conduit. The first sites are expected to achieve commercial operation in 2026.