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Global Geothermal Power Market Review 2026.

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...

The Billion-Dollar Gamble Beneath Our Feet: Why Geothermal Exploration Is the Industry’s Greatest Risk

Exploration Risk: The Billion-Dollar Gamble Beneath Our Feet By:  Robert Buluma Image credit: Kane Watikson on LinkedIn  Geothermal energy is often described as the sleeping giant of the clean energy transition  constant, weather-independent, capable of delivering 24/7 baseload power without the intermittency that defines solar and wind. Yet despite this extraordinary promise, geothermal remains underdeveloped in most parts of the world. The reason is not lack of heat. It is not lack of demand. It is not even lack of technology and not even  FINANCE ,  Whilst many will throw that policy card, but Alphaxioms is already future proofing that .  The real barrier lies several kilometers beneath our feet  in uncertainty. Exploration risk is the defining challenge of geothermal energy. Unlike wind turbines that can measure wind speeds before construction, or solar farms that can predict output from sunlight data, geothermal developers must make multimillion-d...

Unlocking Africa's Hidden Power: New Zealand and the AU Ignite the Geothermal Revolution

In a landmark diplomatic moment that signals brighter prospects for Africa's clean energy future,  H.E. Mahmoud Ali Youssouf, Chairperson of the African Union Commission, formally received the Letters of Credentials from H.E. Ms. Olivia Owen, the newly appointed Ambassador of New Zealand to Ethiopia and the African Union, on February 4, 2026. This ceremony marks not just the beginning of a new ambassadorial tenure but a renewed surge of momentum in one of the most promising renewable energy partnerships on the continent: the AU–New Zealand geothermal cooperation. Amid Africa's urgent push to harness its vast geothermal resources—particularly along the East African Rift System—New Zealand's world-renowned expertise in geothermal development stands as a beacon of hope for sustainable, reliable, and affordable power. New Zealand, a global leader in geothermal energy, draws nearly 20% of its electricity from the Earth's natural heat. Its pioneering approaches to exploration...

Melilla’s Hidden Fire: Teverra and Earth Energy Explorers Trigger Spain’s Next Geothermal Breakthrough

Teverra and Earth Energy Explorers Ignite a Geothermal Revolution in Melilla: Spain’s Hidden Heat Awakens By:  Robert Buluma There are places on Earth where the future doesn’t arrive gently. It doesn’t knock politely. It doesn’t wait for permission. It erupts—quietly at first—through data, through drilling plans, through boardroom decisions that look ordinary to outsiders but feel like thunder to those who understand what is at stake. The Melilla Geothermal Project is one of those moments. A moment when a city perched on the edge of Europe, staring directly into the Mediterranean, begins to ask a question that could shake its energy destiny: What if the most powerful resource we need isn’t imported… but buried beneath us? This is the kind of question that rewrites history. And now, with Teverra partnering with Earth Energy Explorers (EEE), that question is no longer theoretical. It is becoming a plan—measured, engineered, and dangerously ambitious. Melilla is not just another Sp...

KenGen Launches International Tender for Essential Geothermal Wellhead

KenGen Launches International Tender for Essential Geothermal Wellhead Equipment Amid Kenya's Green Energy Push In a significant move to bolster its geothermal energy infrastructure, Kenya Electricity Generating Company PLC (KenGen) has issued an open international tender for the supply of specialized geothermal wellhead equipment. The tender, referenced as KGN-GDD-025-2026, focuses on expanding gate valves and adaptor flanges—critical components used in geothermal wellheads to manage high-pressure steam and ensure safe, efficient energy extraction. Released in January 2026, this procurement opportunity underscores KenGen's ongoing commitment to expanding Kenya's renewable energy capacity, particularly in the geothermal sector, which already accounts for a substantial portion of the country's power generation. Tender Details and Requirements The tender invites sealed bids from eligible candidates worldwide, emphasizing an open competitive process to attract qualified ...

Kenya’s Geothermal Surge: Menengai, Suswa, Courts, and Cheaper Power

Kenya’s geothermal sector stands at a pivotal crossroads in 2026, blending rapid expansion, legal scrutiny, fresh exploration, and bold affordability measures.  By: Robert Buluma Image: Trucks are flagged for Suswa Geothermal Block As Africa’s geothermal leader, Kenya harnesses the Rift Valley’s heat to deliver reliable, clean baseload power that stabilizes the grid amid fluctuating hydro and costly thermal backups. Today, the narrative unfolds across Menengai’s maturing projects, Suswa’s exciting new frontier, courtroom challenges, and policy reforms aimed at cheaper electricity for all. Menengai: From Vision to Reality with Turbulence The Menengai field in Nakuru County exemplifies Kenya’s innovative de-risking model. The Geothermal Development Company (GDC ) drills high-risk wells and confirms steam resources, then invites private independent power producers (IPPs) to build plants and purchase steam. This approach accelerates investment by removing the biggest uncertainty. Three...

Mitsubishi Gas Chemical Leads International Collaboration on Geothermal Reservoir Connectivity: A Leap Towards Sustainable Energy

Mitsubishi Gas Chemical Leads International Collaboration on Geothermal Reservoir Connectivity: A Leap Towards Sustainable Energy Posted by Alphaxioms Geothermal News on January 31, 2026 Hello, geothermal enthusiasts! Welcome back to Alphaxioms Geothermal News, your go-to source for the latest developments in the world of underground energy. Today, we're diving into an exciting announcement from Mitsubishi Gas Chemical Company (MGC) that's set to bridge the gap quite literally,between shallow and deep geothermal reservoirs. On January 29, 2026, MGC revealed that it has signed an international joint research contract with New Zealand's Earth Sciences New Zealand (ESNZ), alongside partners from Kyushu University and the National Institute of Advanced Industrial Science and Technology (AIST). This collaboration, funded by Japan's New Energy and Industrial Technology Development Organization (NEDO), promises to unlock new insights into geothermal resource utilization. Let...

Strandeiland’s Silent Breakthrough: SCAN’s Successful Geothermal Research Drilling in Amsterdam

The SCAN Geothermal Research Well That Could Redraw Amsterdam’s Heat Future For most people walking across Strandeiland in Amsterdam today, nothing looks unusual. No drilling rig. No heavy machinery. No fenced-off work zone. No signs of an industrial operation that recently took place. And yet beneath that calm surface, something major has happened. A geothermal research drilling campaign, carried out under the SCAN programme, has been successfully completed , and it may quietly become one of the most important steps in determining whether the Amsterdam–Diemen–Almere region can unlock aardwarmte (geothermal heat) as a cornerstone of its clean heating future. The Rig is Gone , But the Data Remains The SCAN research drilling site on Strandeiland has now been fully dismantled, with the land returned to its original state. SCAN reports the operation as a success, praising the smooth collaboration with the Municipality of Amsterdam and other regional partners. This is the kind of geothermal...

CTR Launches American Data Power: 600 MW Geothermal Complex to Fuel America’s AI & Hyperscale Data Boom at Salton Sea

The recent announcement from  Controlled Thermal Resources Holdings Inc. (CTR) marks a significant step in addressing one of the most pressing challenges in the U.S. energy landscape:  providing reliable, clean, baseload power for the explosive growth of hyperscale data centers and AI infrastructure. On January 29, 2026, CTR launched American Data Power, a new subsidiary dedicated to delivering a utility-scale 600 MW energy complex in California's Salton Sea Geothermal Field. This initiative advances the next phase of CTR's flagship Hell’s Kitchen development, positioning it as one of the largest baseload renewable energy projects in the country. Geothermal energy stands out in the renewable mix because it delivers continuous, 24/7 power unlike solar or wind, which depend on weather conditions. The proposed complex targets a capacity factor exceeding 95%, ensuring high operational reliability. This makes it ideal for the constant, high-load demands of hyperscale data centers...

Minnesota Revives Aquifer Geothermal: The LED of Heating

“‘The LED of heating’: cheap geothermal energy system makes US comeback”.  By:  Robert Buluma This story spotlights a groundbreaking project in Minnesota that's bringing back Aquifer thermal energy storage (ATES) nearly 45 years after pioneering U.S. experiments. In the frigid winters of Minnesota, where temperatures can drop below -10°C (-14°F), keeping homes warm traditionally relies on fossil fuels or inefficient electric systems. But a new development called The Heights in St. Paul is changing that by tapping into the stable temperatures deep underground. The Revival of a 1980s Idea Back in the late 1970s and 1980s, the U.S. Department of Energy funded tests beneath the University of Minnesota's St. Paul campus. Researchers drilled wells to store hot water in aquifers over 100 meters (about 330 feet) deep during summer, then extracted it for winter heating. The concept, known as seasonal thermal energy storage, aimed to cut primary energy use significantly. A 1991 federal...

Kenya’s Geothermal Advantage: Pulling Carbon Out of the Sky

Kenya’s Climate Breakthrough: Harnessing Geothermal Power to Pull Carbon Out of the Air This article was written by Robert Buluma 🌋 Why Kenya Is Uniquely Positioned for Carbon Removal Kenya is one of the world’s geothermal success stories. Unlike many nations that rely heavily on fossil fuels, Kenya generates a significant share of its electricity from geothermal resources, particularly along the Great Rift Valley. This region is rich in underground heat, volcanic rock formations, and clean baseload power. These conditions make Kenya ideal for carbon removal for three major reasons: 1.Abundant renewable energy – Carbon capture technologies require large amounts of energy. In Kenya, geothermal power provides constant, low-carbon electricity and heat. 2. Suitable geology – Volcanic basalt formations naturally lock carbon dioxide into solid rock through mineralization. 3.Strategic location – Kenya sits at the crossroads of African innovation, climate finance, and global carbon markets. T...

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Top 10 Critical Geothermal Energy Problems Costs Risks Seismicity

Top 10 Geothermal Problems: Why a 24/7 Resource Still Struggles to Scale Image credit : Fida, C.E.O Geosilica... This is what scaling looks like downhole in geothermal pipes Intelligence; Strategy for the Geothermal Decade Geothermal energy is often presented as the clean firm resource that can support a renewable electricity system around the clock. It does not depend on sunshine, it can operate through calm weather, and it can provide heat and power for decades. Kenya already relies heavily on geothermal generation , Iceland uses geothermal heat across its economy, and next generation developers are now signing large power contracts with technology companies seeking reliable carbon free electricity. Yet the global geothermal sector remains small compared with solar and wind, with installed electricity capacity still near 16 GW.  That gap is not caused by one obstacle. It is produced by a chain of interlocking problems involving geology, drilling, finance, permitting, public acce...

Serbia Advances Mišeluk Geothermal District Heating Project in Novi Sad

Serbia Advances Geothermal Drilling for the Mišeluk District Heating Plant in Novi Sad Serbia is moving forward with plans to develop a geothermal district heating system in Mišeluk, a rapidly urbanizing area of Novi Sad. The project is intended to place geothermal energy at the centre of a new low-carbon heating network, supported by solar power and natural gas backup. Exploratory drilling and construction of the heat distribution network are being carried out by JKP Novosadska toplana, Novi Sad’s public district heating utility. The initiative is supported through the United Nations Development Programme’s “Geothermal Energy in Serbia” programme, with financial backing from Slovakia.  The Mišeluk project is important not only because it could provide a new renewable heat source for Novi Sad, but also because it demonstrates how geothermal energy can be integrated into urban development from the earliest planning stages. Rather than retrofitting a geothermal system into an establi...

Global Geothermal Power Market Review 2026.

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...

Alphaxioms Interviews Rystad Energy: Geothermal's Inflection Point, Policy, and Drilling Breakthroughs

Geothermal at an Inflection Point: Why Policy, Conventional Resources, and Drilling Breakthroughs Will Define the Next Decade This interview was conducted by Robert Buluma on behalf of Alphaxioms,  responses delivered by  Alexandra Gerken Product manager, Geothermal solution at Rystad Energy   Introduction: The Strategic Crossroads for Geothermal Geothermal energy is entering a decisive phase. After decades of steady but regionally concentrated development, the sector now faces a confluence of technological innovation, policy ambition, and market demand that could either unlock global scale or confine geothermal to niche applications. Alexandra Gerken, Product Manager for Geothermal Solutions at  Rystad Energy , offers a clear-eyed assessment of where the industry stands, which technologies will drive near-term growth, and what must happen for geothermal to become a globally significant source of firm, low-carbon power. Her analysis emphasizes three pillars: the imme...

North America Geothermal Energy Investment Opportunities, Companies, Resources, and Market Outlook

Investment Opportunities in North American Geothermal Energy North America is entering a new investment cycle in geothermal energy. The United States offers the region’s deepest commercial market and the largest advanced-geothermal pipeline; Mexico provides proven high-temperature volcanic resources and an established utility-scale industry; while Canada presents an earlier-stage opportunity centered on sedimentary-basin geothermal, direct-use heating, closed-loop systems, and oil-and-gas technology transfer. The investment case now extends well beyond conventional geothermal power plants. It includes enhanced geothermal systems, advanced closed-loop systems, geothermal heat pumps, district heating, industrial heat, geothermal storage, lithium extraction from geothermal brines, data-center power, and hybrid renewable-energy projects. In the United States, utilities had already procured or agreed to procure 1,007 MW of next-generation geothermal capacity through 12 power-purchase agreem...

PT Geo Dipa Energi Launches Strategic Minor Overhaul Tender for Dieng Unit 1 to Strengthen Geothermal Reliability

PT Geo Dipa Energi Opens Tender for Minor Overhaul of Dieng Unit 1 in 2026 Image: Indonesian Geothermal power plant PT Geo Dipa Energi (Persero) has opened a tender for the minor overhaul of the Dieng Geothermal Power Plant Unit 1 in 2026, signaling a continued focus on preserving the reliability of one of Indonesia’s most important geothermal assets. The procurement is aimed at selecting a qualified contractor with proven experience in turbine and generator maintenance for thermal power plants, underscoring the technical complexity and operational importance of the work. The tender, identified as RKS-004-PST/GDE/I/2026, uses a post-qualification bidding method and applies strict administrative, technical, and safety requirements. The schedule places document registration and collection between 26 and 28 January 2026, followed by a mandatory RKS explanation session and field visit on 29 January 2026. Procurement Scope and Process The procurement procedure requires prospective bidders...

New Mexico Tribal Geothermal Development: Energy Sovereignty, Jobs, Investment

New Mexico’s Tribal Lands Poised for Geothermal Development: Opportunity, Challenges, and Pathways to Energy Sovereignty Image:  Located in Lordsburg, Lightning Dock is the only utility scale geothermal power plant in New Mexico. (BLM New Mexico via Flickr) Why geothermal matters for New Mexico tribes, nations, and pueblos Geothermal energy uses heat from the earth to produce electricity or heat buildings directly. For New Mexico — a state with abundant subsurface heat resources — geothermal offers a reliable, low‑emission complement to wind and solar. Unlike intermittent renewables, geothermal provides baseload power capable of supporting grid stability and reducing reliance on fossil fuels. For tribal communities, geothermal has particular appeal: it aligns with many Indigenous values around stewardship, can be developed with relatively low water demand compared with some thermal technologies, and offers long‑term revenue, jobs, and enhanced local control over energy resources. E...

"US Geothermal Tax Credits 2026: What the IRA/45Q Changes Mean for Developers"

US Geothermal Tax Credits in 2026: What Is Actually Still Alive After OBBBA For an industry that spent more than a decade building financial models around a stable federal incentive structure, 2026 has been a year of whiplash. The 30% federal geothermal tax credit that developers and homeowners built forecasts around is gone in one form and still alive in another, and even the IRS’s own public guidance has been confusing enough to trigger uncertainty across the market. That confusion is not a minor clerical issue. It is shaping investment decisions, contractor sales pitches, homeowner timelines, and project finance assumptions right now. If you work in geothermal, the key question is no longer whether federal incentives exist, but which incentive applies, to which project type, and under what ownership structure. The law that changed the timeline To understand where things stand in 2026, you have to start with the Inflation Reduction Act of 2022, which created a long runway for clean e...

Green Therma Selects H&P to Drill Denmark’s Longest Geothermal Well

Green Therma Selects H&P to Drill Denmark’s Longest Geothermal Well for Aalborg Heat4Ever Demonstration Denmark is moving from geothermal ambition to execution. Green Therma has selected Helmerich & Payne to drill the Heat4Ever demonstration well near Aalborg, a project that could become one of the country’s most technically ambitious geothermal developments and a meaningful test of closed-loop district heating.   A milestone for Danish geothermal The Aalborg Heat4Ever project matters because it is designed to prove that geothermal heat can be delivered without relying on a natural hot-water reservoir. Instead of producing groundwater from a conventional geothermal field, the system uses a closed-loop pipe-in-pipe design that circulates the same fluid downhole, heats it in contact with hot rock, and returns it to the surface for district heating use.  That distinction is important for Denmark, where district heating is already a major part of the energy system ...

Geothermal Innovation, Superhot Systems, Social License, and the Future of Global Geothermal Energy

In this interview, Dr. Amel Barich, Founder & CEO of Geoscience Research and Communications (GRC) , shares insights into the future of geothermal energy, covering superhot geothermal systems, advanced drilling, international collaboration, social license to operate, developing-country opportunities, and the growing role of geothermal in integrated energy systems.  Image : Dr. Amel Barich Founder & CEO, Geoscience Research and Communications (GRC) Geoscientist | Geothermal R&D&I | Social License to Operate Q1. Could you briefly introduce yourself and describe your current role in advancing geothermal innovation? I am a geoscientist and geothermal professional with a background spanning geothermal research and innovation, international collaboration, policy and science diplomacy, stakeholder engagement, and strategic communication. Over the past decade, I have worked from Iceland across major European and international geothermal initiatives, leading collaborative R...