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...
MND Completes Landmark Deep Geothermal Drilling Project in Košice, Powering Central Europe’s Clean Heating Future
MND Pushes Central Europe Toward a Geothermal Future with Landmark Košice Project Central Europe has just witnessed a major geothermal breakthrough. Czech energy and drilling giant MND has officially completed the drilling phase of one of the largest geothermal heating projects in Central Europe, marking a decisive moment not only for Slovakia’s energy future, but also for the wider European geothermal sector. Located in the city of Košice, Slovakia’s second-largest city, the ambitious geothermal development demonstrates how deep geothermal energy is rapidly transforming from a niche renewable resource into a strategic pillar of urban energy security, district heating, and industrial decarbonization. The announcement by MND revealed that three deep geothermal boreholes were successfully drilled to depths of up to 3.6 kilometers under difficult geological conditions. Once fully operational, the geothermal system could cover as much as 55% of Košice’s heat consumption — an extraordina...