Who Is Really Funding Next-Gen Geothermal in 2026? Next-generation geothermal has moved beyond laboratory research into a capital-intensive commercialization phase. In 2026, the most important financing is no longer coming from one investor category: venture capital funds are financing drilling, subsurface modelling and hardware; strategic energy companies are providing equipment, project access and market credibility; banks are beginning to lend against contracted projects; and governments are absorbing exploration and first-of-a-kind technology risk. The strongest financing activity is concentrated in the United States and Canada, but Europe is becoming increasingly important through Germany-based deployment, European Union grants, UK innovation support, and strategic participation from European energy companies. The central investment question is changing from “Can this technology work?” to “Can the developer deliver repeatable, financeable projects at commercial cost?” The 2026 fun...
Expression of Interest: Saint Lucia Launches Early Market Engagement for Integrated Drilling Services
By: Robert Buluma
The Government of Saint Lucia (GoSL) has officially opened an Expression of Interest (EOI) process as part of its major push into geothermal exploration under the Renewable Energy Sector Development Project (RESDP). Backed by US$34.6 million in financing from the World Bank and several global climate-focused Trust Funds, this initiative marks a pivotal step toward unlocking the island’s geothermal energy potential.
The RESDP aims to determine the viability of Saint Lucia’s geothermal resource for electricity generation while strengthening the enabling environment required to scale up private-sector clean energy investments. A key component of this effort involves the exploration drilling of three slim-hole wells in the communities of Saltibus, Belle Plaine, and Fond St. Jacques.
Of the total project financing, US$12.3 million is provided by the International Development Association (IDA), while US$21.28 million is contributed through various Trust Funds, including the Gender Trust Funds, Free-Standing Single Purpose Trust Fund, Canada Clean Energy and Forest Climate Facility Trust Fund, Clean Technology Fund, and the Energy Sector Management Assistance Program.
To support the upcoming drilling activities, the GoSL is inviting companies to express interest in the Integrated Drilling Services Procurement Procedure. Interested organizations are required to complete a registration form indicating their interest in accessing the Draft Drilling Services document. The form requests:
1. Company Name
2. Email
3. Address
4. Country of Registration
5. Contact Person
6. How you heard about this event
The submission form does not automatically collect personal details unless entered directly by the applicant. Participants are advised not to share passwords or sensitive information as the form owner has not provided a privacy statement on data use.
This early market engagement marks an important milestone in Saint Lucia’s clean energy journey, setting the stage for high-level geothermal exploration and long-term power sector transformation. The outcomes of this process will help the government refine procurement strategies and advance plans for a more resilient, sustainable energy future.
Related; Tender Notice: Integrated Drilling Services for Geothermal Resource Exploration – Saint Lucia
Source: Google

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