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Margün Enerji to Acquire Turkish Geothermal Firm Hez Enerji in USD 150 Million Deal

Margün Enerji’s USD 150 Million Acquisition of Hez Enerji Signals a New Geothermal Consolidation Wave in Türkiye The global renewable energy sector is undergoing a rapid phase of consolidation, with strategic acquisitions reshaping ownership structures, accelerating capacity expansion, and strengthening long-term energy security. One of the latest and most significant moves comes from Türkiye, where Margün Enerji Üretim Sanayi ve Ticaret A.Ş. has agreed to acquire geothermal company Hez Enerji İnşaat San. ve Tic. A.Ş. in a deal valued at approximately USD 150 million . The transaction, which includes an operational geothermal power plant and additional resource licenses, underscores the aggressive expansion strategy of Margün Enerji in the geothermal space. This acquisition is not just a financial transaction—it represents a broader strategic pivot in Türkiye’s renewable energy landscape, where geothermal energy is increasingly becoming a core pillar of baseload clean power generati...
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Gran Canaria geothermal drilling tender expected soon announcement

Gran Canaria’s Geothermal Push Enters New Phase as Drilling Tender Preparations Begin By: Robert Buluma   Gran Canaria’s geothermal ambitions are rapidly moving from theoretical exploration toward real industrial development. In a major development for Spain’s renewable energy sector, the Cabildo of Gran Canaria has intensified efforts to unlock underground geothermal resources while preparations quietly advance for what could become one of the Canary Islands’ most important clean energy drilling campaigns. The latest momentum comes as the Cabildo formally seeks another permit to investigate geothermal resources across strategic areas of the island. At the same time, authorities and project partners are preparing technical tender documents for exploratory geothermal drilling operations expected to begin in the coming development phases. Together, these developments signal that geothermal energy is no longer being treated as a distant scientific possibility in Gran Canaria. It is ...
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Mercury Expands New Zealand Geothermal Platform With Billion Dollar Investment

Mercury’s $1 Billion Geothermal Expansion Signals a New Era for New Zealand’s Renewable Energy Future By: Robert Buluma   Mercury Doubles Down on Geothermal Power New Zealand’s renewable energy transition has entered a bold new chapter after Mercury announced plans to significantly scale its geothermal platform with a potential investment of up to $1 billion. The announcement marks one of the country’s most ambitious geothermal expansion strategies in recent years and reinforces geothermal energy’s growing role as a reliable, baseload renewable power source capable of supporting future electricity demand. Mercury revealed that it will immediately commit NZ$75 million toward geothermal appraisal drilling at two major projects located near Taupō — Ngā Tamariki and Rotokawa. These developments could collectively generate an additional 1 terawatt-hour (TWh) of electricity annually, enough to power approximately 125,000 more homes across New Zealand. The projects are expected to t...
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Grenada Advances Mount St. Catherine Geothermal Drilling Energy Expansion

Grenada’s Geothermal Gamble Enters Defining Phase at Mount St. Catherine By: Robert Buluma The Caribbean’s race toward clean, independent, and resilient energy has entered a defining chapter as Grenada pushes its geothermal ambitions into the most critical stage yet. Backed by international financing, advanced drilling technologies, and a growing regional determination to break free from imported fossil fuels, the island nation is now standing at the edge of a potentially transformative energy revolution. In a major announcement released by the Caribbean Development Bank, Grenada’s geothermal programme has officially advanced into an expanded exploratory drilling campaign at Mount St. Catherine — a move that could determine whether the country possesses commercially viable geothermal resources capable of powering its future. For Grenada, this is far more than an energy project. It is a national strategic mission tied directly to energy security, electricity affordability, economic r...
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Eavor steps back from operator role in the Geretsried geothermal project

Eavor at the Crossroads: What Geretsried Really Tells Us About the Future of Closed-Loop Geothermal By Alphaxioms Geothermal Insights | May 13, 2026 For years, Eavor Technologies was the geothermal sector's most talked-about enigma. The company raised hundreds of millions of dollars, attracted backing from heavyweights including BP , Chevron , Helmerich & Payne , and Temasek , and made bold promises about a proprietary closed-loop technology that would quietly revolutionise how humanity extracts heat from the earth. But it rarely said much in public. The secrecy was, to many observers in the geothermal community, a feature rather than a bug — protecting intellectual property, managing competitive intelligence, buying time. Now, Eavor is talking. And what it is saying is worth listening to very carefully. In an exclusive interview published on May 13, 2026, by GeoExpro editor Henk Kombrink, Eavor's new president and CEO Mark Fitzgerald — who took the role in October 2025 ...
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