Star Energy To Invest €25 Million Oil and Gas Proceeds In Geothermal Energy

Powering the Future: Star Energy Group Bold Move Towards Geothermal Energy

In a groundbreaking move towards sustainable energy, Star Energy Group (AIM: STAR) has just announced the closing of a new €25 million secured facility with Kommunalkredit Austria AG (Kommunalkredit). This financial boost marks a significant step in Star Energy's transition strategy, particularly focusing on geothermal energy while maintaining investments in conventional oil and gas businesses.

Chris Hopkinson, the CEO of Star Energy expressed his excitement, stating, "Securing this facility is an important milestone for Star Energy. It allows us to use cashflows from our existing oil and gas business to optimize near-term conventional production and deliver our transition strategy; namely developing and monetizing our geothermal business in both the UK and Croatia."

Evidently,Oil and gas companies have been going Geothermal and Today we've found a new neighbor

What makes this move stand out is Star Energy firm belief in their competitive advantages in navigating the energy transition. With a highly qualified team and a proven track record in onshore development, they possess the expertise needed for both conventional and geothermal projects. This confidence is mirrored in the unique structure of the facility provided by Kommunalkredit, highlighting their trust in Star Energy's capabilities.

The new facility is split into two components - Facility A and Facility B. Facility A will be used to repay existing debts, while Facility B will fuel Star Energy geothermal development activities. With a five-year term and tailored repayment schedules, this financing paves the way for sustainable growth and innovation in the energy sector.

Looking ahead, Star Energy is set to announce its results for the year 2023 on April 24, 2024. This will undoubtedly shed more light on their strategic vision and financial performance, further solidifying their position as a trailblazer in the energy industry.

As we stand on the brink of a renewable energy revolution Star Energy bold move towards geothermal power serves as an inspiring example of how companies can proactively address climate change while ensuring financial viability. With their eyes set on a greener future, Star Energy is not just powering homes – they're powering change.

Stay tuned as Star Energy continues to illuminate the path towards a sustainable tomorrow.

Star Energy Group recent financial maneuverings mark a significant shift towards sustainable energy solutions. As they harness the Earth's natural heat to power the future, they exemplify the crucial role that innovation and strategic planning play in combating climate change. With the support of forward-thinking investors and a dedicated team, Star Energy is poised to lead the charge towards a greener, cleaner world. Keep watching this space as they continue to redefine the energy landscape one geothermal well at a time.

Within a period of one month two oil and gas giants have set foot in Geothermal this one being the former , Full steam ahead

Source:Euro Land Press Release

Connect With Us:Alphaxioms

Comments

CTR and Baker Hughes Ignite a 500 MW Geothermal Revolution to Power America’s AI Future”

CTR and Baker Hughes Unite for a 500 MW Geothermal Power Breakthrough: Fueling America’s AI and Data Center Growth By: Robert Buluma The race to power the digital economy has just taken a bold step forward. Controlled Thermal Resources (CTR) and Baker Hughes have entered into definitive agreements to develop 500 megawatts (MW) of baseload geothermal power at the Hell’s Kitchen project in Imperial County, California. This world-scale development is set to become a cornerstone of U.S. energy security delivering clean, reliable, around-the-clock energy to power hyperscale data centers and artificial intelligence infrastructure. A New Era of Geothermal Energy America’s digital economy is expanding at an unprecedented rate, driven by explosive growth in AI applications and hyperscale data centers . Unlike intermittent renewables such as solar and wind, geothermal power operates at capacity factors above 98 percent, making it uniquely suited for industries that demand uninterrupted en...

DSSA and FirstGen Forge Landmark 440 MW Geothermal Partnership to Power Indonesia’s Clean Energy Future

Landmark Geothermal Partnership: DSSA and FirstGen Join Forces to Unlock Indonesia’s Renewable Future By: Robert Buluma In a groundbreaking move for Southeast Asia’s energy transition, PT DSSR Daya Mas Sakti , a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) under the Sinar Mas Group , has officially signed a Framework Agreement with PT FirstGen Geothermal Indonesia , a company of First Gen’s subsidiary Energy Development Corporation (EDC) , the Philippines’ largest renewable energy producer. This landmark partnership marks the beginning of a joint venture to develop up to 440 MW of geothermal capacity across six strategically located sites in West Sumatra, Jambi, West Java, East Nusa Tenggara, and Central Sulawesi . With Indonesia being home to one of the largest untapped geothermal resources in the world, this collaboration is set to unlock significant opportunities for sustainable growth and energy independence. A Strategic Step Toward Clean Energy The joint initiati...

Beyond Oil: How Alphaxioms and Aramco Could Redefine Saudi Arabia’s Energy Future

Alphaxioms Calls for a Bold Partnership with Saudi Aramco: Geothermal, Hydrogen, andCCUS for Saudi Arabia’s Energy Future By: Robert Buluma Saudi Arabia stands at a historic crossroads. With Vision 2030 charting the Kingdom’s transition from oil dependency to a diversified, sustainable economy, the world is watching how energy giants like Saudi Aramco will redefine their role in the global transition. The stakes are high, and the opportunities are even higher. At Alphaxioms, we believe Saudi Arabia has an unprecedented chance to lead the next wave of clean energy innovation—not just in the Middle East, but worldwide. The time has come to tap into solutions that go beyond incremental change. The Energy Challenge The global community is racing toward net-zero emissions, with 2050 as the defining milestone. Nations and corporations alike are under pressure to deliver scalable, low-carbon solutions that maintain energy security while reducing emissions. For Saudi Arabia, this means ha...

The geothermal energy sector just witnessed a groundbreaking alliance that could reshape the future of clean power. By: Robert Buluma On August 28, 2025 , Ormat Technologies, Inc. , a global leader in geothermal development, announced a strategic commercial agreement with Sage Geosystems Inc. , a pioneer in next-generation geothermal and energy storage technology. This collaboration is more than just another partnership it’s a bold step into the future of geothermal innovation. Unlocking the Power of Pressure Geothermal At the heart of this agreement lies Sage’s Pressure Geothermal technology , an advanced system designed to extract heat from hot dry rock formations deep beneath the earth. Unlike conventional geothermal methods that rely heavily on water reservoirs, Pressure Geothermal leverages both heat and subsurface pressure unlocking new possibilities for deployment in regions once thought unsuitable for geothermal development. Through this par...

Ormat Secures 25-Year PPA Extension – Powering Southern California with Geothermal Energy Until 2052 By: Robert Buluma In an era where the world’s energy future hinges on reliability, resilience, and sustainability, Ormat Technologies has just delivered one of the most significant announcements in the geothermal sector. On August 25, 2025, the Nevada-based geothermal powerhouse confirmed the signing of a 25-year power purchase agreement (PPA) extension with the Southern California Public Power Authority (SCPPA) . This milestone means that the Heber 1 geothermal facility , located in California’s Imperial Valley, will continue delivering 52MW of clean, around-the-clock electricity to millions of Californians until 2052 . For the Los Angeles Department of Water and Power (LADWP) and the Imperial Irrigation District (IID) , this deal secures a cornerstone of California’s baseload renewable energy future . A Cornerstone of California’s Clean Energy Transition “This agree...

Revolutionizing Renewable Energy: Texas Paves the Way for Closed-Loop Geothermal Innovation

Pioneering the Future of Geothermal Energy: Texas Leads the Way with Closed-Loop Systems By: Robert Buluma Vallourec's closed loop concept North of Houston, a transformative geothermal initiative is reshaping the energy sector. NOV, a key player in drilling and completions technology, has successfully completed an 11,500-foot closed-loop geothermal test well, marking a significant step forward in renewable energy development. This project highlights the growing potential of closed-loop geothermal (CLG) systems to redefine energy production. Ejen it comes to Geothermal,Innovation and Technology is key and we have seen alot of new findings lately. Unlocking New Possibilities in Geothermal Energy Unlike conventional geothermal systems that rely on naturally occurring underground water sources, CLG technology operates using a sealed system. A specialized heat transfer fluid circulates through a continuous loop, absorbing heat from deep underground rock formations and transporting it to...

Pentagon Expands Geothermal Push to Strengthen Military Energy Security

Pentagon’s Power Play: DoD Expands Geothermal Push to Fortify U.S. Military Energy Security By: Robert Buluma In a move that blends cutting-edge clean energy technology with the uncompromising demands of national security, the U.S. Department of Defense (DoD) is ramping up its geothermal initiatives to ensure mission assurance and round-the-clock power for military installations. The stakes are high — with threats from wildfires, extreme weather, cyberattacks, and power shortages looming larger than ever, the Pentagon is betting on geothermal’s resilience to keep bases operational no matter the conditions. A United Front for Energy Resilience Through the Defense Innovation Unit (DIU) , the DoD is partnering with the Air Force, Army, Navy, and Marines to de-risk geothermal development and pave the way for full-scale power plant construction on military bases. Six geothermal innovators have been tapped for the mission: Eavor – Pioneers in closed-loop geotherma...

First Geothermal Potential Evaluation in Mexico’s Gas Fields: The Comitas Field Case

October 1, 2025 marks a turning point for Mexico’s clean energy journey. For the very first time, researchers have carried out a geothermal potential evaluation within a gas-producing field in the Burgos Basin an area traditionally known for its prolific hydrocarbon output. By: Robert Buluma The study, led by Irving Torres Mata and Dr. Rosa María Prol-Ledesma from the Universidad Nacional Autónoma de México (UNAM), takes a bold step toward reimagining how oil and gas fields can transition into renewable energy hubs. From Gas to Geothermal: The Burgos Basin Advantage The Burgos Basin, located in northeastern Mexico, has long been recognized as an important hydrocarbon province, boasting strong gas production with some wells also yielding condensates. But beneath its oil and gas story lies another: a geothermal gradient between 40°C/km and 70°C/km , which places it firmly on the radar as a geothermal prospect. Thanks to hundreds of deep wells already drilled in the basin ...

GreenFire Energy and Toyo Engineering Partner to Revitalize Geothermal Power Across Asia Pacific

GreenFire Energy and Toyo Engineering Join Forces to Transform Geothermal Projects in Asia Pacific By : Robert Buluma September 10, 2025 – A groundbreaking partnership has been announced between GreenFire Energy and Toyo Engineering Corporation (TOYO), aimed at advancing next-generation geothermal projects across the Asia Pacific region. The collaboration will initially focus on Japan and Indonesia, two countries with vast untapped geothermal resources, before expanding into North America. Together, the two companies plan to unlock the full potential of existing geothermal fields by introducing innovative, closed-loop geothermal systems. A Leap Forward for Baseload Geothermal Power GreenFire Energy brings to the partnership its patented closed-loop and advanced geothermal systems (AGS). These systems are designed to capture heat and revitalize geothermal wells that conventional methods can no longer efficiently use. By pairing this with TOYO’s engineering, procurement, constructio...

Transforming Geothermal Energy: GTO and ConnectWerx Launch $19 Million Regional Data Expansion Initiative

Geothermal Technology Office and ConnectWerx Launch $19 Million Initiative to Enhance Regional Geothermal Data Collection By: Robert Buluma The U.S. Department of Energy's (DOE) Geothermal Technologies Office (GTO) , in collaboration with ConnectWerx , has announced a substantial funding opportunity aimed at strengthening geothermal data collection across various U.S. regions. This $19 million initiative seeks to identify and address regional data gaps, thereby promoting further geothermal exploration and development. The US Department of Energy has been very much supportive in Geothermal Energy fasttracking initiatives that are rewriting the geothermal energy saga globally with proven yet nerve shredding unveiling unfoldings in this less known yet very much instrumental industry Objective of the Initiative The primary goal of this funding opportunity is to establish regional partnerships that will: - Identify existing gaps in geothermal data. - Prioritize and p...

Alphaxioms Geothermal News and Related Research Globally

Search This Blog