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Showing posts from March 22, 2026

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

By Robert Buluma Alphaxioms
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...
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Römerberg 10 Comes Online: Germany’s Latest Onshore Oil Milestone Born from a Geothermal Surprise

By Robert Buluma Alphaxioms
The Römerberg 10 Well: A Major Milestone in Germany's Domestic Oil Production at Speyer By:  Robert Buluma In the heart of Speyer, a historic city in southwestern Germany along the Rhine River, a significant step forward has been made in securing local energy resources. On February 9, 2026, Neptune Energy , in partnership with Palatina GeoCon GmbH & Co. KG, announced the successful drilling, testing, and imminent production startup of the Römerberg 10 well. This development marks the eleventh well in the Römerberg-Speyer oil field and underscores ongoing investment in responsible, onshore hydrocarbon extraction. The Römerberg field has an intriguing origin story. Discovered accidentally in 2003 during a geothermal exploration effort aimed at tapping into hot underground waters for renewable energy, the drill instead struck oil at depths around 2,000–2,500 meters beneath the city. What began as a "happy accident" has evolved into a productive oil field operated safely ...
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128°C Deep – The Quiet Geothermal Revolution That Will Heat an Entire German Town by 2029

By Robert Buluma Alphaxioms
The small town of Bad Bevensen, nestled in the serene Lüneburger Heide region of northern Germany, has long been known for its healing thermal springs and tranquil spa culture.  By:  Robert Buluma But beneath its peaceful surface lies a powerful, silent force: the Earth's own heat, waiting to be tapped. Now, in 2026, a bold geothermal project is reigniting hope for a sustainable, carbon-free future—and it's set to transform the town's energy landscape by 2029. Imagine a future where homes, hospitals, the historic Kurhaus, and the Rathaus are warmed not by imported gas or fluctuating fossil fuels, but by clean, reliable heat drawn from over three kilometers underground. Temperatures reaching 128°C at around 3,300 meters make this possible. This isn't science fiction—it's the ambitious vision now being driven by Berlin-based NULLCOZWEI GmbH , a company stepping in to rescue and accelerate a project that once seemed stalled. From Setback to Second Chance The story bega...
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Unlocking the Heat Beneath the Humber: Geothermal’s Rise in Britain’s Industrial Heartland

By Robert Buluma Alphaxioms
Unlocking the Earth's Heat: The Promise of Geothermal Energy in the UK's Humber Region By:  Robert Buluma Geothermal energy, harnessed from the natural heat stored beneath the Earth's surface, represents one of the most reliable and sustainable renewable resources available today. Unlike solar or wind power, which depend on weather conditions, geothermal provides a constant, baseload energy supply that operates 24/7. This makes it particularly valuable for industrial applications, where consistent heat and power are essential. In the context of global efforts to combat climate change, geothermal energy stands out for its ability to significantly reduce carbon emissions without the intermittency issues plaguing other renewables. At its core, geothermal energy involves tapping into hot water or steam reservoirs deep underground. These resources can be used directly for heating or to generate electricity through turbines. Geothermal systems can cut CO2 emissions by up to 90% c...
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Switzerland’s Geothermal Pioneer Riehen Seeks CHF 15.2 Million to Double Down on Clean Heat

By Robert Buluma Alphaxioms
Riehen Advances Geothermal Future: Loan Application for Major District Heating Expansion By: In the picturesque border municipality of Riehen, near Basel, Switzerland, a significant step forward in sustainable energy is underway. On March 5, 2026, the Government of the Canton of Basel-Stadt and the Municipality of Riehen jointly submitted a request to their respective parliaments: approve a conditionally repayable loan totaling CHF 15.2 million (approximately USD 19.4 million at current rates) to support the expansion of the local geothermal district heating network. Each entity—canton and municipality—proposes to provide CHF 7.6 million to the  Wärmeverbund Riehen AG (WVR) , the operator of the system. This funding targets the ambitious “geo2riehen” project, which aims to scale up one of Switzerland’s oldest and most successful deep geothermal heating operations. Riehen has been a geothermal pioneer since 1994, when its first plant began delivering renewable heat extracted from de...
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Geothermal Lithium Extraction Reshaping Global Clean Energy Supply Chains

By Robert Buluma Alphaxioms
Unlocking Lithium from Heat: A New Era for Geothermal Value Creation By: Robert Buluma In a world increasingly defined by the race for clean energy and resilient supply chains, a quiet revolution is emerging beneath the Earth’s surface—where heat meets minerals, and power meets possibility. A groundbreaking initiative led by , backed by the , is setting the stage for a transformative shift in how we perceive geothermal energy—not just as a source of electricity, but as a gateway to critical mineral recovery. At the center of this bold move is , operating within the rich geothermal landscapes of . Together, they are pioneering a pilot project at the that could redefine the economics of geothermal energy worldwide. The Convergence of Energy and Minerals For decades, geothermal energy has been celebrated for its reliability, sustainability, and baseload capabilities. Unlike solar or wind, geothermal power runs 24/7, tapping into the Earth's natural heat reservoirs. But beneath this st...
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Whakatāne Geothermal Exploration: University of Auckland's $3M Project

By Robert Buluma Alphaxioms
Unlocking the Heat Beneath Whakatāne: University of Auckland’s $3 Million Geothermal Exploration Project Signals a New Era for Renewable Energy in New Zealand Posted on| March 24, 2026 By  Robert Buluma On March 17, 2026, the New Zealand Government made a significant announcement that could reshape the energy landscape of the eastern Bay of Plenty. Alongside the launch of the country’s first national geothermal strategy, From the Ground Up – A Strategy to Unlock New Zealand’s Geothermal Potential, the University of Auckland’s Geothermal Institute secured $3 million from the Regional Infrastructure Fund (RIF) for the Whakatāne Geothermal Temperature Gradient Well Programme. This initiative marks an important early step in assessing whether reliable geothermal heat resources lie beneath parts of Whakatāne, a region long associated with volcanic activity, cultural significance, and a strong desire for sustainable economic development. What Is the Whakatāne Geothermal Project? The pr...
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Expro Drives Europe’s Lithium-Geothermal Energy Breakthrough

By Robert Buluma Alphaxioms
Expro Powers Europe’s Energy Future with Landmark Lionheart Geothermal Project A New Era for Geothermal and Lithium Extraction in Europe By:  Robert Buluma Europe’s clean energy transition has reached a defining moment. In a bold and strategic move, has secured a critical role in one of the continent’s most ambitious renewable energy initiatives—the Lionheart Project in Germany. Developed by in collaboration with , the project is not just another geothermal development—it is a convergence of energy innovation, resource security, and climate ambition. At the heart of this development lies a dual-purpose vision: generating geothermal energy while extracting lithium, a critical mineral essential for batteries powering electric vehicles and renewable energy storage systems. As global demand for lithium surges, projects like Lionheart are becoming increasingly vital—not only for energy independence but also for economic resilience. The appointment of Expro to deliver well testing...
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Alphaxioms Interviews Rystad Energy: Geothermal's Inflection Point, Policy, and Drilling Breakthroughs

By Robert Buluma Alphaxioms
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...
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Green Therma Selects H&P to Drill Denmark’s Longest Geothermal Well

By Robert Buluma Alphaxioms
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 ...
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Serbia Advances Mišeluk Geothermal District Heating Project in Novi Sad

By Robert Buluma Alphaxioms
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...
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New Mexico Tribal Geothermal Development: Energy Sovereignty, Jobs, Investment

By Robert Buluma Alphaxioms
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...
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North America Geothermal Energy Investment Opportunities, Companies, Resources, and Market Outlook

By Robert Buluma Alphaxioms
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...
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NYC Subway Thermal Energy Network Pilot: Geothermal Heat Capture, Radiant Cooling, Seasonal Storage

By Robert Buluma Alphaxioms
New York’s Subway Heat Turned into Winter Warmth: The City’s First Transit Thermal Energy Network Pilot Turning platform heat into usable energy — what the Chambers Street and Brooklyn Bridge–City Hall pilot means for urban energy systems New York City has launched a study to design and test a Thermal Energy Network (TEN) that would capture excess heat from two of Lower Manhattan’s hottest subway stations and reuse it to heat nearby municipal buildings. The proposed pilot, centered on the Brooklyn Bridge–City Hall 4/5/6 complex and the Chambers Street J/Z station, is notable for being the first time TENs are being considered inside a U.S. transit system. The plan pairs radiant cooling on platforms with geothermal borehole storage under an abandoned center platform at Chambers Street, converting otherwise wasted heat into a supply that can be stored seasonally and delivered to surrounding municipal facilities during colder months. This initiative sits at the intersection of urban heat r...
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€200 Million Dutch Geothermal Financing Accelerates Sustainable Greenhouse Heat Growth

By Robert Buluma Alphaxioms
€200 Million Financing Accelerates Dutch Geothermal Energy Cluster in Centraal Oostland A new financing framework of up to €200 million is set to accelerate the development of a major geothermal energy cluster in Centraal Oostland, a greenhouse horticulture region in South Holland, the Netherlands. The facility, arranged by ING and Rabobank for renewable heat infrastructure platform 85 Degrees Renewable, will support the next phase of geothermal development in the region. The funding is expected to finance new geothermal wells, expand heat distribution infrastructure and strengthen the long-term growth of an integrated renewable heat platform serving greenhouse growers. The transaction is significant not only because of its size, but also because it demonstrates the growing ability of geothermal heat projects to attract institutional and bank financing. It highlights a shift from treating geothermal energy as a collection of individual drilling projects toward developing integrated hea...
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Innargi Geothermal drives Europe's renewable district heating decarbonisation from Aarhus to Poland

By Robert Buluma Alphaxioms
Innargi Geothermal, Decarbonising Europe's Heat, One City at a Time In an era defined by the urgent need to decarbonise Europe’s energy systems, one critical sector often remains overlooked, heating. Accounting for a substantial portion of the continent’s energy consumption, the heating sector has long been dominated by fossil fuels and biomass. Enter Innargi Geothermal, a Danish company on a mission to change that, one community at a time. Founded in 2017 by A.P. Møller Holding , Innargi has rapidly evolved from a single-project venture in Aarhus into an international geothermal energy company with a growing portfolio across Northern and Eastern Europe. By applying decades of subsurface expertise from the oil and gas industry to the untapped potential of geothermal energy, Innargi is industrialising geothermal district heating at a scale never before seen in the European Union. This article takes a deep dive into Innargi’s operations, exploring its revolutionary business model a...
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Nowy Dwór Mazowiecki GT-1 Thermal Water Exploration Well: Project Overview, Funding, and Investment Potential

By Robert Buluma Alphaxioms
Nowy Dwór Mazowiecki GT,1 Thermal Water Exploration Well: Project Overview, Funding, and Investment Potential Project background and objectives The town of Nowy Dwór Mazowiecki signed grant agreement No. 52/2025/Wn07/FG,hg,dg on 20 February 2025 with the National Fund for Environmental Protection and Water Management (NFOŚiGW) under the “Making Poland’s Thermal Waters Accessible” priority program. The grant fully funds the execution of a single exploration and appraisal borehole, Nowy Dwór Mazowiecki GT,1, aimed at locating and characterizing geothermal waters for heating, recreational and balneotherapy uses. The direct objective is to perform geological works to identify and appraise thermal water resources and to make them available for municipal and commercial uses. The drilling target is one borehole to a design depth of 2,070 m (±10%). The project’s declared operational target is to assess thermal water yield and temperature to determine suitability for district heating, spa, recr...
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Top 100 Geothermal Companies in the World in 2026: The Ultimate Industry Guide

By Robert Buluma Alphaxioms
Top 100 Geothermal Companies in the World in 2026: The Ultimate Industry Guide The global geothermal industry is entering a new phase of growth. Established geothermal operators continue to expand conventional hydrothermal power, while enhanced geothermal systems, closed loop designs, geothermal lithium extraction, advanced drilling, and geothermal heating technologies are opening new markets. Geothermal power remains one of the few renewable energy sources capable of supplying firm electricity around the clock. Its ability to operate independently of sunshine and wind makes it increasingly valuable to utilities, industrial users, manufacturers, and data centers seeking reliable low carbon power. This guide profiles 100 of the most influential companies, developers, manufacturers, drilling contractors, technology providers, startups, and industry organizations shaping the geothermal sector in 2026. The ranking is organized by market influence, operating capacity, technology, project pi...
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