Alphaxioms Geothermal News and Related Research Globally

El Salvador Mines 474 Bitcoin Worth $29 Million with Volcano-Fueled Geothermal Power By:  Robert Buluma El Salvador is revolutionizing cryptocurrency mining by harnessing the natural power of its volcanoes. Since 2021, the Central American nation has mined an impressive 474 Bitcoins using geothermal energy derived from the Tecapa volcano, valued at approximately $29 million at current Bitcoin prices.   A Renewable Energy-Powered Breakthrough   This groundbreaking initiative is part of El Salvador’s larger strategy to merge cryptocurrency with renewable energy. Geothermal energy, which accounts for 25% of the country's electricity production, plays a crucial role in powering these operations. The state-owned geothermal company, LaGeo, operates two major plants that generate a combined 204 megawatts of power. From this capacity, 1.5 megawatts are used to sustain the mining of Bitcoin, a process often criticized globally for its energy consumption and environmental...

Vienna's Leap Into Carbon-Neutral Energy: Inside the City's First Deep Geothermal Plant   By:  Robert Buluma Image of the city of Aspen in a blink mid_winter Vienna, a city famed for its historical landmarks and cultural elegance, is making headlines for something entirely different — the groundbreaking development of its first deep geothermal energy plant. Nestled in Aspern, within the city’s 22nd district, this ambitious project by OMV AG and Wien Energie GmbH is set to revolutionize how Vienna powers its homes, all while paving the way to a sustainable, carbon-neutral future.    The Heart of the Project: Drilling Deep for a Better Tomorrow   This isn’t just another energy project; it’s a bold leap into the future. Drilling into the depths of the Aderklaaer Konglomerat, a natural hot water reservoir sitting 3,000 meters below Vienna’s surface, this initiative taps into geothermal energy — an inexhaustible, renewable source of heat. By 2028, this...

Revolutionizing Geothermal Energy: Exergy Partners with Baseload Power Iceland to Transform Kopsvatn  By: Robert Buluma Image: Baseload Iceland,C.E.O Marta Ros Karlsdottir and Exergy's Luca Pozzoni shake hands upon signing of the LOI , Image source Exergy on LinkedIn In a groundbreaking development for geothermal energy, Exergy has signed a Letter of Intent (LOI) with Baseload Power Iceland to supply two Organic Rankine Cycle (ORC) units for the Kopsvatn geothermal power plant in Flúðir, Iceland. This partnership signifies a monumental leap in the utilization of small-scale binary systems that combine heat and power, paving the way for a global revolution in sustainable energy production.    A Milestone in Small-Scale Geothermal Innovation   The Kopsvatn geothermal power plant project embodies innovation at its finest. By integrating Exergy’s state-of-the-art ORC technology with Baseload Power Iceland’s strategic vision, this collaboration underscores the i...

Fervo Energy  Secures $255 Million to Power the Next Generation of Geothermal Energy Robert Buluma As the global push for sustainable energy solutions intensifies,  Fervo Energy has emerged as a trailblazer in revolutionizing geothermal technology. On December 19, 2024, Fervo announced a monumental achievement—securing $255 million in funding to accelerate the development of its enhanced geothermal systems (EGS). This groundbreaking initiative positions Fervo as a leader in the race to meet the soaring demand for 24/7 carbon-free energy.  A Leap Towards Energy Innovation   The funding includes $135 million in corporate equity, spearheaded by Capricorn’s Technology Impact Fund II, alongside investments from esteemed entities like Breakthrough Energy Ventures and CPP Investments. A $120 million credit facility from Mercuria further bolsters Fervo’s financial foundation, ensuring the rapid deployment of EGS projects across the United States.   Fervo ...

UK Allocates £10 Million to Accelerate Grenada’s Green Energy Transition By:  Robert Buluma Grenada has received a significant boost in its journey toward sustainable energy solutions, thanks to a £10 million investment from the UK government. The announcement was made during a meeting between Baroness Chapman, the UK Minister for Latin America and the Caribbean, and Grenadian Prime Minister Dickon Mitchell in St. George’s.   This funding will be directed toward Grenada’s Geothermal Energy Development Project, which aims to explore the viability of the country’s geothermal resources. If successful, this initiative could reduce Grenada’s heavy reliance on imported fossil fuels and lay the groundwork for locally sourced, cost-effective, and climate-resilient energy solutions.   A Major Step Toward Energy Independence   Baroness Chapman emphasized the importance of this investment, stating, *“I am thrilled to announce £10m in new funding, which is support...

Unlocking Geothermal Energy in Saudi Arabia: From Geology to Techno-Economic Analysis By:  Robert Buluma Saudi Arabia is poised to become a global leader in renewable energy, with geothermal energy emerging as a viable and sustainable option. While the Kingdom has long relied on fossil fuels, the nation's ambitious Vision 2030 plan highlights a shift towards clean energy, such as wind, solar, and now geothermal power. The Untapped Potential of Geothermal Energy in KSA Geologically, Saudi Arabia is endowed with significant geothermal energy resources, particularly along the Red Sea Rift Basin. This area is characterized by high heat flow from the Earth's depths, offering an ideal setting for geothermal energy development. These resources can provide sustainable baseload energy for various applications, including electricity generation, district heating and cooling, and water desalination—critical in a region where water scarcity is a pressing issue. By tapping into geothermal re...

The Rising Potential of Geothermal Energy: Insights from the  IEA The Internationa geel Energy Agency  (IEA) has shed light on the transformative potential of geothermal energy in its latest report. As a clean, renewable resource, geothermal is uniquely positioned to play a vital role in achieving global climate goals, thanks to its reliability and diverse applications. The report emphasizes the urgent need for investments, technological innovation, and supportive policies to maximize geothermal's contribution to the energy transition. Earlier on we reported on the agencies deep dive into critical minerals and we are fascinated to keep our readers on track. Current Status and Future Projections Geothermal energy is currently underutilized, generating 67 TWh of electricity annually. However, with enhanced deployment strategies, this figure could soar to 1,400 TWh by 2050. Additionally, direct applications of geothermal heat could rise to 1,600 TWh annually. This growth would s...

Gold Meets Steam: A Game-Changing Geothermal Venture in North Sulawesi By: Robert Buluma : steam gushes orit of a geothermal well,wells of power In the heart of North Sulawesi's Bitung area, a groundbreaking partnership has emerged, one that promises to reshape both the energy and mining landscapes. The collaboration between Ormat, a global leader in geothermal technology, and Archi, a prominent gold mining company, is not just another business venture—it’s a bold statement of innovation and ambition. Established in early 2021, this joint venture is an intriguing fusion of resources and expertise. Archi, well-known for its operations in the gold-rich Toka Tindung area, is now diving into uncharted territory with geothermal energy. Ormat, on the other hand, has taken on the monumental task of managing the A-to-Z operations of this geothermal project. In return, Ormat will command a three-quarters share of the venture’s stakes, leaving Archi with a quarter—a reflection of the immense...

Eavor  & SLB : Unlocking a Revolution in Clean Energy Production By:  Robert Buluma Image: The SLB & Eavor Team at Geretsried Imagine a world where energy is not only clean but also consistent, dependable, and accessible worldwide. This vision is becoming a reality, thanks to an innovative partnership between  Eavor Technologies and  SLB (formerly Schlumberger). Together, they are pioneering a groundbreaking approach to harnessing renewable energy, promising to redefine how we produce and consume power and heat. At the heart of this collaboration lies Eavor 's revolutionary technology, the Eavor-Loop™, a closed-loop geothermal system that is unlike anything seen before. The partnership reached a critical milestone recently at Getesried, the home of the first commercial Eavor-Loop™, where the SLB and Eavor teams met to celebrate this transformative project. What Is the Eavor-Loop™? The Eavor -Loop™ is a closed-loop geothermal system that eliminates the tradi...

World Geothermal Congress 2026: Expression of Interest (EOI) Call for Technical Program Committee Members By:  Robert Buluma The geothermal world is abuzz with anticipation as the countdown to the World Geothermal Congress (WGC) 2026 begins. Held every three years, this prestigious event brings together the brightest minds, industry leaders, and innovators to shape the future of geothermal energy. With Calgary, Canada, selected to host the 2026 event, the International Geothermal Association (IGA) has issued a call for Expressions of Interest (EOI) for individuals to join the Technical Program Committee. A Prestigious Opportunity The role of the Technical Program Committee is crucial in designing and developing the conference’s technical agenda, leading reviewer teams, and ensuring that the submissions represent cutting-edge geothermal research, innovation, and development. This is a call to action for experts passionate about advancing geothermal energy to step forward and leave t...

Chinese-Funded 35MW Geothermal Plant: A Leap Toward Clean Energy Access in Kenya By:  Robert Buluma In a historic moment underscoring Kenya's commitment to sustainable energy, Kenyan President William Ruto fired up a bulldozer on October 24, 2024, to break ground for a new 35-megawatt geothermal power plant in Nakuru County. This $90 million project, dubbed the Orpower 22 Geothermal Power Plant, is set to fuel Kenya’s drive towards a greener future and unlock vast potential for clean energy in the region. The plant, which will be constructed through a partnership between Kenya and the Chinese-based Kaishan Group Co. Ltd., is a landmark in Kenya’s journey to achieving a 100% green national electricity grid by 2030. This bold project is not just a milestone for clean energy but also a powerful testament to Kenya's role as a leader in Africa’s green revolution. A Visionary Partnership for a Greener Kenya This groundbreaking endeavor is only possible thanks to Kenya’s supportive bu...

Mitsubishi Power to Boost Indonesia’s Geothermal Potential with Darajat Plant Retrofit By :  Robert Buluma The Darajat Geothermal power plant by Mitsubishi In a move to strengthen Indonesia's renewable energy sector, Mitsubishi Power, the renowned power solutions division of Mitsubishi Heavy Industries (MHI), has announced a major upgrade project for the Darajat Geothermal Power Plant, located in Garut, West Java. This ambitious retrofitting initiative, expected to wrap up in autumn 2026, is set to enhance the plant’s output and improve its operational reliability, propelling Indonesia closer to its sustainability goals. A Game-Changer in Sustainable Energy The Darajat Geothermal Power Plant, operated by Star Energy Geothermal Darajat II (SEG), has been a cornerstone of Indonesia's renewable energy infrastructure. Now, with the planned retrofit of Unit 3, Mitsubishi Power aims to increase the plant's power output from 121 megawatts (MW) to 129 MW, providing cleaner and more...

Chevron and PGE Join Forces to Unlock Geothermal Potential in WKP Way Ratai On September 25, 2024, a monumental step was taken in Indonesia’s renewable energy journey. PT Cahaya Anagata Energy (CAE), a joint venture between PT Pertamina Geothermal Energy Tbk (PGE) and Chevron New Energies Holdings Indonesia Ltd., officially received the long-awaited Geothermal Permit (IPB) for the Way Ratai Geothermal Working Area (WKP) in Lampung. This collaboration promises to set new benchmarks in geothermal exploration and development, marking a pivotal moment for Indonesia’s clean energy ambitions. A Breakthrough in Energy Bureaucracy The symbolic handover of the IPB took place at the Directorate General of New, Renewable Energy, and Energy Conservation (EBTKE) in Central Jakarta, with key energy leaders present. What makes this milestone even more significant is that this was the first geothermal permit processed entirely online through the Online Single Submission (OSS) system. This technologica...

Archi and Ormat Join Forces to Unlock North Sulawesi's Geothermal Potential In an exciting venture that marks a new chapter in Indonesia’s renewable energy landscape, PT Archi Indonesia and Ormat Technologies Inc. have established a joint venture, PT Toka Tindung Geothermal (TTG). This partnership aims to explore and harness geothermal energy in the Bitung area of North Sulawesi, leveraging the geothermal potential around Archi’s Toka Tindung gold mine. Ormat, a global leader in geothermal energy development, holds a 75% stake in the joint venture, while Archi, a pure-play gold mining company, owns the remaining 25%. This collaboration exemplifies how industries traditionally associated with mining and fossil fuels are now shifting towards sustainable energy practices. As part of the agreement, Ormat will spearhead exploration activities, focusing on the Klabat Wineru geothermal prospect. Once the geothermal potential is confirmed, Ormat will also oversee the design, engineering, a...

Medco Power's Unique Position as the Sole Bidder for North Sumatra Geothermal Prospect Medco Power Indonesia has emerged as the sole bidder for a promising geothermal prospect in North Sumatra, positioning itself as the leading contender for this significant project. This unique status raises questions about the circumstances leading to Medco's exclusive bid and what it reveals about the company’s strategic direction. Reasons for Medco Power’s Sole Bidder Status One of the primary reasons Medco Power stands alone in this bid could be attributed to the complexity and high capital requirements associated with geothermal projects in Indonesia. Developing geothermal resources requires significant upfront investment, cutting-edge technology, and technical expertise in drilling, resource assessment, and plant operation. Medco, with its long-standing experience in the energy sector, has both the financial and operational strength to tackle these challenges.  Moreover, Indonesia’s geot...

Medco Energi’s Ambitious Geothermal Plans for the Ijen Project: A Green Energy Revolution in the Making In an era where renewable energy is no longer just an option but a necessity, Medco Energi Internasional Tbk (MEDC) is at the forefront of the green revolution in Indonesia. The company's latest strides in geothermal energy, particularly the Ijen Geothermal Power Plant (PLTP) project in East Java, serve as a testament to its commitment to a cleaner, more sustainable future. As the global energy market shifts, Medco Energi is positioning itself as a key player, not only in Indonesia but on the international stage. The Ijen PLTP project, with its 110-megawatt (MW) capacity, represents a giant leap forward for both the company and the nation’s energy landscape. A Clean Energy Giant Emerges Medco Energi’s Director & Chief Operating Officer, Ronald Gunawan, recently unveiled some exciting updates about the Ijen geothermal project during the 2024 Medco Energi Public Expose Live. Ac...