# Barclays Upgrades Bloom Energy After California Power Pact By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/48171 Published: 2026-11-04T02:58:54.000Z Updated: 2026-11-04T02:58:54.000Z Section: Investing > The pact covers evaluation of potential development of at least one gigawatt, a target that does not commit the companies to build projects. Barclays upgraded Bloom Energy as the fuel-cell maker and two California partners evaluate potential development of at least one gigawatt, a target that is not committed generating capacity. Bloom Energy, California Resources Corporation and its carbon-management business, Carbon TerraVault, signed a nonbinding memorandum of understanding Nov. 2. The [agreement to evaluate potential development of at least one gigawatt]() covers possible grid-connected and on-site projects in Central and Northern California. Moving from evaluation to construction would depend on project contracts, company investment approvals, EPA Class VI permits and any additional regulatory clearances. ## Links in this article - [agreement to evaluate potential development of at least one gigawatt](https://www.tokenpost.com/news/business/47151)