Global Geothermal Power: Policies, Funding, Wells, Strengths, Opportunities and Barriers Geothermal is moving into a broader investment cycle. In 2026, the story is no longer limited to volcanic power plants in a few classic markets; it now includes enhanced geothermal systems, closed-loop designs, district heating, superhot rock, lithium from brines and industrial heat. Across the United States, Canada, Germany, the United Kingdom, Australia, New Zealand, Japan, Iceland, France and Italy, the sector is being shaped by a simple question: who is de-risking the first wells, and who is ready to finance the next ones? United States: the next-generation testbed The United States has the broadest geothermal innovation ecosystem in this group, with a mature conventional base in the West and a fast-growing next-generation pipeline. The main policy signal in 2026 is the Department of Energy’s US$171.5 million funding opportunity for next-generation geothermal field-scale tests, exploration...
SLB and Ormat Join Forces to Revolutionize Geothermal Energy
In an exciting leap toward a sustainable future, SLB has announced a strategic collaboration with Ormat Technologies, Inc., a leading renewable energy company, to develop and deliver cutting-edge geothermal projects. This partnership aims to revolutionize the geothermal energy landscape by reducing project risks, enhancing economics, and ensuring long-term performance and reliability.
A Comprehensive Suite of Solutions
The collaboration will offer developers an integrated suite of solutions that cover every phase of geothermal projects. From initial exploration and resource assessment to power plant commissioning and operation, SLB and Ormat are committed to providing a seamless and comprehensive approach.
Next-Generation Geothermal Solutions
Together, SLB and Ormat will offer both traditional geothermal solutions and next-generation technologies like enhanced geothermal systems (EGS) and advanced geothermal solutions (AGS). Notably, SLB has secured a license for Ormat's EGS patent, allowing the partnership to push the boundaries of geothermal technology.
Synergy of Expertise
This collaboration leverages Ormat's extensive experience in geothermal fields, project development, and power plant operations with SLB's unparalleled expertise in reservoir characterization, well construction, completions, and production technologies. By combining these strengths, the partnership aims to deliver exceptional project efficiencies and economic benefits.
The Importance of Geothermal Energy
"Geothermal energy represents a significant opportunity for the energy transition, providing clean, baseload renewable power," said Irlan Amir, Vice President of Renewables and Energy Efficiency at SLB. "By combining our expertise with Ormat's, we can help customers unlock the full potential of geothermal resources and accelerate the deployment of this sustainable energy source."
A Partnership Built on Complementary Strengths
SLB has been a leader in the subsurface sector for over a century, participating in 80 percent of the world's geothermal power projects. Ormat, as the largest manufacturer of geothermal binary equipment and the second-largest global owner and operator of geothermal fields and power plants, brings unmatched expertise to the table.
"Ormat's world-class geothermal development and technology expertise perfectly complements SLB's significant reservoir knowledge and well construction technologies," said Paul Thomsen, Vice President of Business Development at Ormat. "Together, we can deliver more projects, offering exceptional value to our developers and contributing to a cleaner energy future."
Join the Renewable Revolution
This collaboration marks a significant step forward in the renewable energy sector. With SLB and Ormat working together, the future of geothermal energy looks brighter than ever. Stay tuned for more updates as these groundbreaking projects unfold.
About SLB:
SLB has been a global leader in energy services for over a century, committed to driving innovation and sustainability in the energy sector.
About Ormat Technologies, Inc.:
Ormat is a leading renewable energy company specializing in geothermal energy solutions, with a strong focus on technological innovation and sustainable development.
Source: SLB Resource
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