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Showing posts from June 7, 2026

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...