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Mijnwater Starts Terhoevenderweg Drilling for New 634-Meter Heat Source in Heerlen

Mijnwater starts drilling for new heat source on Terhoevenderweg in Heerlen New source expands Parkstad’s district heating and cooling network Mijnwater has started drilling work for a new heat source at Terhoevenderweg in Heerlen, marking another important step in the expansion of its sustainable heating and cooling network in Parkstad. After a period of preparation, work began this week and is expected to continue for three to four weeks. Because the operation must be completed safely and efficiently, the drilling is taking place 24 hours a day, seven days a week. The project is part of Mijnwater’s broader effort to strengthen a low-carbon energy system for the region. The new source will tap warm groundwater in a former mine passage deep underground and feed that energy into the company’s network. For Heerlen and the surrounding area, this means further development of a district energy system that draws value from the region’s mining past while supporting a more sustainable energy ...

How Geothermal Energy Works: From Underground Heat to Electricity Grid

How Geothermal Energy Works: From Underground Heat to Electricity Grid By: Robert Buluma  In 1904, the Italian town of Larderello lit five lightbulbs using nothing but the heat of the Earth. By 1913, a full-scale plant was producing 250 kilowatts there from natural steam vents. Yet more than a century later, geothermal remains one of the most underappreciated clean energy sources on the planet — today accounting for just about 0.5% of global electricity. That is beginning to change. As the world searches for reliable, round-the-clock renewable power to complement intermittent wind and solar, geothermal is attracting unprecedented attention. "Geothermal could be the backbone to providing a clean, affordable, reliable, low-cost grid," says Katrina McLaughlin of the World Resources Institute. With emerging technologies poised to unlock heat virtually anywhere beneath our feet, understanding how this remarkable resource works has never been more important. I. The Fiery Engine Dee...

Risks and Challenges in Geothermal Drilling: What Investors Must Know

THE HEAT BELOW: Why Geothermal Drilling is Either a Goldmine or a Money Pit – And How to Tell the Difference By :  Robert Buluma Moving Beyond the Hype: The Real Geological, Mechanical, and Financial Risks That Don't Show Up in the PowerPoint Deck. There is a scene in the movie Jurassic Park where Donald Gennaro, the lawyer-investor, looks at the hatching raptor and says, "We are going to make a fortune on this." That is the current state of the geothermal energy sector. It is sexy, it is decarbonized, and it runs 24/7, unlike those lazy solar panels that clock out at sunset. Institutional investors are pouring billions into Enhanced Geothermal Systems (EGS) and next-generation drilling tech. But here is the hard truth they aren't telling you at the clean energy gala: Drilling is a brutal, unforgiving science that eats capital for breakfast. If you are an investor looking at geothermal, you cannot treat this like a software-as-a-service startup. You are not betting on...

Borinquen I: Costa Rica’s $100 Million Geothermal Bet Moves From Delay to Delivery

Borinquen I: Costa Rica’s Geothermal Revival Takes Concrete Form By : Robert Buluma ICE Awards $100 Million Electromechanical Contract as Project Exceeds 55% Completion On June 4, 2026, the Instituto Costarricense de Electricidad (ICE) awarded a contract for the design, supply, supervision, testing, and commissioning of electromechanical generation equipment for the Borinquen I Geothermal Project. The transaction is valued at approximately $100 million. The award marks a definitive turning point for a project that spent years in institutional limbo. The Contract Scope The electromechanical equipment package encompasses three core components: The generating unit – driven by volcanic steam Associated systems and equipment The cooling tower ICE will formalize the contract in the second half of 2026. Construction of the machine house is scheduled to begin in July 2027. This is not a speculative timeline. The contract award is complete. The sequencing is now fixed. Project Status: Beyond Ha...

Poland’s Energy Transition Takes Flight: CPK Launches Market Consultations for 5th Generation Heating and Cooling Network

Poland’s Energy Transition Takes Flight: CPK Launches Market Consultations for 5th Generation Heating and Cooling Network By : Robert Buluma Warsaw, Poland – June 8, 2026 – In a significant step that transcends traditional transportation infrastructure, the company responsible for building Poland’s largest infrastructure project, Centralny Port Komunikacyjny (CPK) , has officially initiated preliminary market consultations (Wstępne Konsultacje Rynkowe) for a highly advanced energy system. The focus is the development of Energy Centers (Centra Energetyczne) designed to power a 5th generation district heating and cooling network, a first-of-its-kind scale project in the Republic of Poland. While the CPK program, now operating under the brand "Port Polska," is widely recognized for its planned mega-airport between Warsaw and Łódź and a 2,000 km integrated railway network, this latest announcement on June 8, 2026, signals a deeper strategic commitment. The company is positioning ...

New Zealand's Progress on Supercritical Geothermal Forges Ahead with $60 Million Government Backing

Introduction: A Quiet Revolution Beneath the North Island By  Robert Buluma   In the geothermal fields south of Taupō, a quiet but profound energy revolution is taking shape. While much of the world focuses on solar panels and wind turbines, New Zealand is drilling deeper—literally and metaphorically—into a source of power so intense that it could redefine what “renewable baseload” means. The GeoShot NZ project has just cleared a major hurdle, moving the country significantly closer to drilling its first superhot geothermal well. If successful, this will not only strengthen national energy resilience but also position New Zealand alongside Iceland as a pioneer of the next frontier in geothermal science. Regional Development and Resources Minister Shane Jones announced in early June 2026 that Cabinet had approved the release of the remaining $55 million for the project. That money, part of $60 million originally ring‑fenced in the Regional Infrastructure Fund (RIF), will finan...

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EGS Market Size and Investment Outlook

Enhanced Geothermal Systems (EGS) Market Size and Investment Outlook to 2034 Enhanced Geothermal Systems are at an inflection point. For years, EGS sat in the “promising but pre‑commercial” category of clean technologies, constrained by drilling cost, subsurface risk, and limited policy attention. That picture is now changing as next‑generation geothermal developers raise larger rounds, sign serious offtake agreements, and move projects from concept to execution.   At the same time, global demand for firm, low‑carbon power is rising faster than conventional geothermal can supply. Thermal plants are retiring, grids need 24/7 clean electricity, and policymakers are discovering that weather‑dependent renewables cannot carry the entire load alone. EGS is emerging as one of the few technologies capable of delivering baseload clean power using a resource available almost everywhere: deep, hot rock. Current EGS Market Size – Small but Strategic In absolute terms, the EGS market is s...

Iceland Drilling, Pertamina Strengthen Geothermal Super Hot Rock Collaboration

Iceland Drilling and Pertamina Drilling Strengthen Geothermal Collaboration: A New Platform for Super Hot Rock Development The global geothermal industry is entering a period in which drilling capability, resource knowledge and international collaboration are becoming increasingly important. As countries look for reliable, low-carbon sources of electricity and heat, geothermal energy is moving beyond conventional developments toward more technically challenging resources, including deeper reservoirs and Super Hot Rock (SHR). A new collaboration between Iceland Drilling Company Ltd and Pertamina Drilling Services Indonesia (PDSI) highlights this transition. In August 2026, Iceland Drilling and Pertamina Drilling Services Indonesia officially signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation in geothermal drilling services. The agreement brings together two organisations from countries with exceptionally strong geothermal credentials: Iceland, with decade...

SECI Invites Geothermal Agencies for Resource Assessment and Power Development in Andaman & Nicobar Islands

SECI’s Geothermal EOI for Andaman & Nicobar Islands: What It Means for India’s Next Frontier in Clean Power The Solar Energy Corporation of India’s EOI for geothermal resource assessment and development in the Andaman & Nicobar Islands is a notable signal that India is widening its renewable-energy playbook beyond solar and wind. For developers, consultants, and investors, this tender is less about a single procurement and more about a strategic entry point into one of India’s most technically intriguing clean-energy frontiers. Why This EOI Matters SECI has published Tender ID SECI000268 under reference SECI/C&P/EOI/17/0003/26-27 for the “Identification and Capability Assessment of Agencies for Geothermal Resource Assessment, Exploration, Development, and Utilization of Geothermal Power Plant in UT of A&N Islands.” The document indicates that the initiative is meant to identify agencies with capability across geothermal resource assessment, exploration, development, and...

Plum IV and CTR’s Geothermal Critical Minerals Deal Takes Shape

Plum Acquisition Corp. IV and  Controlled Thermal Resources Outline a Large-Scale Geothermal and Critical Minerals Platform Plum Acquisition Corp. IV (“Plum IV”) and Controlled Thermal Resources Holdings Inc. (“CTR”) are moving toward a proposed business combination that would create a public company focused on one of the most ambitious geothermal and critical minerals developments in the United States. The combined entity is expected to trade on Nasdaq under the pro forma ticker CTRH, reflecting a platform built around clean baseload power, lithium recovery, and broader critical minerals production. The investor presentation dated August 2026 frames the transaction around CTR’s Hell’s Kitchen project in Imperial County, California, which is presented as a strategically positioned resource opportunity with energy, minerals, infrastructure, and permitting advantages.   At the center of the presentation is a clear message: this is not just a power project, and it is not j...

AFK Geothermie launches €65M dublette drilling to heat 1,200 homes

AFK Geothermie launches second dublette drilling in Aschheim , pathway to 1,200 geothermal heat connections Summary AFK Geothermie has begun preparing the drill site for a second deep geothermal dublette near Aschheim. Drilling is scheduled to start in November at depths up to 2,600 meters. The project aims to supply up to 1,200 residential connections in Aschheim, Feldkirchen and Kirchheim with district heating from January 2028, expanding an established field first tapped in 2008. Total investment is around €65 million, combining public grants, municipal contributions, company equity and long-term loans. Why this matters now The AFK project is a practical example of how municipal-scale geothermal systems move from demonstration to scale-up. As European policymakers push for decarbonized heating, replicable, well-financed geothermal projects that integrate with existing district heating networks are becoming critical. The Aschheim dublette highlights common technical, financial and ...

Geothermal heat pumps for universities: campus decarbonization, industrial heat pumps, and state grant funding

Massachusetts’ $23M Push: How Geothermal, Industrial Heat Pumps and Efficiency Grants Can Transform Campus Decarbonization Image: MIT, Cambridge  Massachusetts’ recent award of approximately $23 million in decarbonization implementation grants to public universities and state facilities is more than a set of individual projects — it’s a practical blueprint for how public-sector institutions can accelerate fossil-fuel retirement, reduce operating costs, and scale up low-carbon heating technologies. The grant round, made through the Department of Energy Resources’ Leading by Example (LBE) Decarbonization Implementation Grant (DIG) program, funds a range of measures from campus-scale geothermal systems to industrial heat pumps, air-source heat pumps, building envelope upgrades, and rooftop solar. Together the projects demonstrate how targeted public investments can unlock larger capital programs, yield sizeable greenhouse gas (GHG) reductions, and create replicable models for universi...

If You Had $1 Billion for Geothermal, Where Should You Invest?

If You Had $1 Billion for Geothermal in 2026, Where Wouldn’t You Invest? Image: A thematic image of a drilling rig on a geothermal, well pad Geothermal is becoming one of the most interesting corners of clean energy, but that does not mean every market deserves your capital. In 2026, the smartest geothermal investors are not asking where the hottest rocks are, they are asking where geology, contracts, policy, and execution line up well enough to justify real money. The real investment test If you had $1 billion to deploy in geothermal, you would not start with hype. You would start with bankability, because geothermal is a business of drilled wells, long timelines, heavy upfront costs, and a very unforgiving path from theory to cash flow. A project can look excellent on a resource map and still underperform badly if permitting drags, community consent is weak, tariffs are mispriced, or the grid cannot absorb the power. That is why this article focuses on where you would not put capita...

Deep Geothermal Drilling Preparation for Renewable District Heating

Deep Drilling Preparation for Geothermal Energy: The Erdwärme Breisgau Project The Erdwärme Breisgau geothermal project has received approval for its next phase, allowing Badenova and Herrenknecht to begin preparing a deep-drilling site near Hartheim in Baden-Württemberg, Germany. The partners plan to invest approximately €60 million to explore a geothermal reservoir located around 3,200 metres underground and develop a heating plant for regional district heating.  Why Deep Drilling Matters for Geothermal Heating Deep geothermal energy can provide a stable, renewable source of heat for district-heating networks. Unlike solar and wind power, which depend on weather conditions, geothermal heating can operate continuously when the underground reservoir and surface infrastructure are technically and economically viable. The Erdwärme Breisgau project is designed to investigate a hot-water reservoir beneath the Hartheim area. The plan involves drilling two directional wells: one producti...

Geothermal Drilling Cost Per Well: U.S. and Global Benchmarks by Country

Geothermal Drilling Cost Per Well: U.S. and Global Benchmarks by Country Geothermal drilling cost per well varies widely because no two projects face the same depth, geology, reservoir temperature, or drilling risk. In the United States and other major geothermal markets, costs can range from modest amounts for shallow residential boreholes to several million dollars for deep power-generation wells. A single “average” price is therefore misleading. The most useful way to understand geothermal drilling cost is to look at project type, depth, and country together, then compare those figures against the conditions that drive them. What A Geothermal Well Includes A geothermal well is more than a hole in the ground. It is a highly engineered underground asset that must be drilled, cased, cemented, tested, and often completed under demanding temperature and pressure conditions. For residential systems, the well or borehole is part of a ground-source heat pump loop field. For power projects, ...

Quaise Energy Raises $180 Million Series B to Advance Superhot Geothermal Power Plant

Quaise Energy Raises $180 Million as Superhot Geothermal Moves Closer to Commercial Reality Quaise Energy has taken a major step toward commercializing superhot geothermal power with the final close of its Series B financing, bringing in $180 million in equity capital and lifting total funding to $280 million. The round includes a $35 million investment from Nabors Industries and a strategic framework agreement that strengthens the companies’ collaboration around drilling operations, technology integration, and commercial development. The announcement matters because it is not just another clean-energy funding headline. It is a signal that superhot geothermal is starting to attract the kind of capital, industrial partnerships, and technical confidence that are usually needed before a frontier energy technology can move from laboratory promise to real-world deployment. A Big Capital Milestone The final close of the Series B gives Quaise a stronger financial base to advance Project Obs...