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"Ethiopia geothermal restart: Tulu Moye and Corbetti renegotiate multimillion-dollar deals"

By Robert Buluma Alphaxioms
Ethiopia Renegotiates Key Deals to Restart Multimillion‑Dollar Geothermal Projects: Tulu Moye and Corbetti Move Toward Restart After years of security disruptions, financing shortfalls and contract disputes, two of Ethiopia’s highest‑profile geothermal concessions , the Tulu Moye (Meridiam/Reykjavik Geothermal) and Corbetti projects , are actively renegotiating with senior government authorities to resume development. The talks mark a practical pivot from litigation and prolonged suspension toward restarting drilling and project implementation, with implications for Ethiopia’s energy mix, investor confidence and the regional geothermal supply chain. Why these renegotiations matter For an emerging geothermal market like Ethiopia, the fate of Tulu Moye and Corbetti matters on three fronts: capacity and grid impact, investor signaling, and the country’s ability to mobilize large, foreign‑led project finance. Each project alone represents several hundred megawatts of potential dispatchable...
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SM’s PGPC Secures Leyte Geothermal Contract: 25 MW Project to Double Capacity by 2033

By Robert Buluma Alphaxioms
SM’s PGPC Wins Leyte Geothermal Contract: A Game-Changer for Philippine Renewable Energy By Robert Buluma – June 8, 2026 In a landmark move that reinforces the Philippines’ position as a global leader in geothermal energy, Philippine Geothermal Production Co. Inc. (PGPC) — a wholly owned subsidiary of the Sy family’s SM Investments Corp. (SMIC) — has secured a government contract to develop a significant geothermal resource in Leyte. The award, confirmed by Energy Secretary Sharon Garin on June 1, 2026, under the Department of Energy (DOE) ’s fifth open and competitive selection process (OCSP5), marks a pivotal expansion for PGPC. The company won the rights to Pre-determined Area (PDA) 2, known as the Southern Leyte Geothermal Project, which has a potential capacity of 25 megawatts (MW) . This article dives deep into the implications of this contract, the strategic importance of geothermal energy for the Philippines, and what it means for the future of renewable energy (RE) in the...
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Sanborn Expands Geothermal Surveying for Clean Energy Growth

By Robert Buluma Alphaxioms
Sanborn Expands Geothermal Surveying to Accelerate Clean Energy Exploration in the United States By: Robert Buluma Introduction: A New Push Toward Subsurface Clarity The global energy transition is increasingly being shaped not just by how we generate electricity, but by how deeply we understand what lies beneath the Earth’s surface. In this context, geothermal energy has emerged as one of the most promising yet underutilized renewable resources. Unlike solar or wind, geothermal power offers constant baseload energy, independent of weather conditions or time of day. However, its development hinges on one critical factor: accurate subsurface data. In early May 2026, a significant development in this space was announced. Sanborn , through its subsidiary EDCON-PRJ, Inc., revealed an expansion of its geothermal surveying operations across the western United States. This move is not just a routine business expansion; it reflects a growing recognition that advanced geophysical mapping is ...
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Italy’s First Geothermal Auction Under FER2 Marks Energy Turning Point

By Robert Buluma Alphaxioms
Italy Opens First Geothermal Auction Under FER2 Incentives Image: These are real operational geothermal power plants in Larderello, Tuscany—the world’s oldest geothermal production area. The visible steam plumes come from cooling towers that are part of electricity generation using underground heat. By:  Robert Buluma Italy is preparing to reopen one of the most historically significant chapters in global energy innovation—its geothermal sector—through a structured, modern financial mechanism designed to unlock stalled development. Under the newly established FER2 incentive scheme, the country will hold its first-ever geothermal energy auction on 8 June 2026, marking a pivotal moment in Europe’s renewable energy transition. This is not just another renewable energy policy update.  It represents a strategic attempt by Italy to revive a sector where it once led the world but has since seen stagnation for nearly a decade. With 30 MW of geothermal capacity allocated specifically f...
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Beneath Borders: Europe’s Cross-Border Geothermal Breakthrough

By Robert Buluma Alphaxioms
Cross-Border Geothermal Power: Europe’s Silent Energy Revolution Introduction: Beneath Borders Lies Power In a world increasingly defined by energy insecurity, volatile fossil fuel markets, and the urgent need to combat climate change, a quiet revolution is taking shape—not above ground, but deep beneath it. Far below the political boundaries that divide nations, heat flows freely. And now, countries are beginning to realize something profound: energy cooperation doesn’t have to stop at borders—especially when the resource itself doesn’t recognize them. The recent geothermal collaboration between Belgium and the Netherlands signals more than just a regional project. It represents a paradigm shift in how nations think about energy, infrastructure, and sustainability . This is not just about electricity. This is about redefining sovereignty in an age of shared resources. Understanding Geothermal Energy: The Power Beneath Our Feet Geothermal energy harnesses the Earth’s internal ...
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Diverso Energy and Dandelion Energy Forge Strategic Partnership to Accelerate Geothermal Adoption in U.S. Residential Housing Markets

By Robert Buluma Alphaxioms
The recent strategic partnership between Diverso Energy and Dandelion Energy ,announced on March 10, 2026, represents a transformative moment for geothermal heating and cooling in the United States residential market.  By: Robert Buluma This collaboration unites Diverso's mature, utility-owned geothermal model—proven in Canada—with Dandelion's leading U.S. deployment expertise and innovative financing approaches. Together, they aim to overcome longstanding barriers to widespread adoption, such as high upfront costs, installation complexity, and scalability challenges, by delivering geothermal systems to new low-rise housing developments without burdening builders or homeowners with significant capital outlays. Geothermal heat pumps (also known as ground-source heat pumps) leverage the earth's stable subsurface temperatures—typically 10–15°C (50–59°F) year-round in most U.S. regions—to provide highly efficient heating in winter and cooling in summer. A closed-loop system ci...
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Ormat Technologies Co-Leads $97M Series B in Sage Geosystems

By Robert Buluma Alphaxioms
Ormat Technologies Co-Leads $97M Series B in Sage Geosystems: A Defining Moment for Next-Generation Geothermal By:  Robert Buluma Image:  Ormat Technologies Co-Leads $97M Series B in Sage Geosystems The global geothermal sector has just crossed another strategic inflection point. On January 21, 2026, Ormat Technologies Inc. (NYSE: ORA),one of the world’s most experienced and vertically integrated geothermal companies,announced a $25 million equity investment as co-lead in an over $97 million Series B funding round for Sage Geosystems Inc., a fast-rising pioneer in next-generation geothermal and energy storage technology. The funding round was co-led by Ormat Technologies and Carbon Direct Capital ,signaling not just financial confidence, but deep industrial and climate-aligned convictionn Sage’s technological pathway. More importantly, this investment is tightly coupled with an existing commercial agreement between Ormat and Sage, marking a rare alignment of capital, technolo...
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Sage Geosystems’ Project Vector: EGS at Ormat Blue Mountain Plant

By Robert Buluma Alphaxioms
Sage Geosystems Selects Ormat’s Blue Mountain Plant for Project Vector: a Major Step Toward Commercial EGS Sage Geosystems will deploy its proprietary EGS technology at Ormat’s Blue Mountain power plant in Nevada for Project Vector, targeting first electricity in 2027 and full-scale production in 2028. The two-well project aims to deliver firm, 24/7 geothermal power with lower water losses and higher net output,advancing commercial EGS, validating GeoTwin predictive modeling, and strengthening strategic ties with Ormat amid growing corporate demand for reliable baseload clean energy. Why this matters Sage Geosystems’ selection of Ormat Technologies’ Blue Mountain geothermal plant for Project Vector represents a pivotal demonstration of commercial-scale enhanced geothermal systems (EGS) integrated into existing power infrastructure. The decision leverages an established plant to reduce non-core capital, accelerate timeline risk reduction, and prioritize validation of subsurface engineer...
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Vulcan Energy Starts Lionheart 30MW Geothermal & 24,000tpa Lithium Plant , Landau

By Robert Buluma Alphaxioms
Vulcan Energy Kicks Off Civil Works at Lionheart: Europe’s Flagship Geothermal + Lithium Plant Starts Rising in Landau Image: The vulcan Lionheart project in Landau, Upper Rhine Graben  Vulcan Energy Resources has started civil construction on its 30 MW Lionheart Geothermal Power Plant in Landau, Germany a milestone that turns engineering blueprints into concrete reality for one of Europe’s most ambitious integrated geothermal and direct lithium extraction (DLE) projects. The first concrete layers are down, foundations are being formed, and supporting infrastructure works are under way. For stakeholders across the clean‑energy and critical minerals value chains, Lionheart represents far more than a single power station: it’s a demonstration of industrial symbiosis, price resilience, and a pathway to decarbonized battery supply chains in Europe. Why Landau matters: location, geology, and industrial context Landau sits in the Upper Rhine Graben, a tectonic trough with a favorable geo...
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TEVERRA Joins Alaska DOE Geothermal Initiative to Reduce Risk

By Robert Buluma Alphaxioms
TEVERRA Joins $5 Million DOE Geothermal Initiative in Alaska Alaska is entering an important new phase in its geothermal energy development, with TEVERRA joining a $5 million U.S. Department of Energy-supported initiative focused on accelerating geothermal development across the state. The project brings together researchers, government geoscientists and private-sector subsurface specialists from the  University of Alaska Fairbanks (UAF), University of Alaska Anchorage (UAA), Alaska Division of Geological & Geophysical Surveys (DGGS), TEVERRA and Logic Geophysics. At the center of the initiative is a challenge that has constrained geothermal development in many parts of the world: the subsurface is difficult to understand before expensive drilling begins. For Alaska, where geothermal resources are distributed across a vast and geologically complex landscape, improving the quality of geological, geophysical and geomechanical information could become an important step toward...
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The "Heat-as-a-Service" (HaaS) Business Model: Geothermal Without the CAPEX Nightmare

By Robert Buluma Alphaxioms
Heat-as-a-Service takes geothermal from a capital-intensive power project to a financeable, contract-based heat utility: instead of selling electrons, you sell stable, decarbonized heat under long-term contracts that match what industrial customers and investors actually want. Image: A thematic picture of a geothermal power plant By shifting risk and ownership away from end users and toward specialised developers and infrastructure capital, it can unlock geothermal in markets where electricity tariffs are low but demand for reliable, low-carbon process heat is strong. From kWh to “heat-as-a-service” Traditional geothermal projects earn revenue by selling electricity into a grid, often at wholesale prices that barely cover high up-front drilling and plant costs unless there is a feed-in tariff or premium.Many industrial users, however, do not need electricity; they need heat for processes like brewing, greenhouse climate control or pulp and paper production, and they currently buy that ...
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Fervo and Google Sign Record 396 MW Geothermal Deal for Utah Data Center Power.

By Robert Buluma Alphaxioms
Fervo and Google sign world’s largest deal for next-gen geothermal power Fervo Energy’s latest agreement with Google is a major milestone for next-generation geothermal and a clear sign that big tech is getting more serious about 24/7 clean power. The deal covers 396 MW from Fervo’s Cape Station project in Utah, with the option for Google to expand its commitment later, potentially pushing the relationship much closer to gigawatt scale.   For the geothermal sector, the significance goes beyond one contract. It is a public validation that enhanced geothermal systems can attract a blue-chip corporate buyer at a size usually associated with utility-scale solar, wind, gas, or nuclear procurement. For Google, it strengthens a strategy centered on securing always-available, carbon-free electricity for future data center growth.   Fervo’s announcement also lands at a moment when electricity demand is rising fast, especially from artificial intelligence infrastructure. Tha...
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Geothermal Well Cost 2026: Country Benchmarks, Drilling Costs per Meter, Depth & Reservoir Risk, and Investment Insights

By Robert Buluma Alphaxioms
Geothermal Well Cost by Country (2026): Drivers, Benchmarks, and Investment Implications image: a thematic image of a geothermal field Geothermal drilling remains one of the most capital‑intensive steps in developing clean, dispatchable energy. In 2026 the headline fact is familiar: drilling costs vary sharply between countries and projects. But the deeper story is about why those costs vary, which factors are controllable, and how investors, developers, and policymakers should interpret country‑level benchmarks. This article explains the technical and commercial drivers behind geothermal well expense, surveys the cost landscape across major geothermal markets in 2026, illustrates the dynamics with project examples and recent performance data, and offers practical recommendations for modeling, financing, and policy design. Why geothermal wells are expensive Drilling a geothermal well is not simply “digging a hole.” It is a technically complex, multi‑phase process that combines explorat...
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Geothermal Rare Earth Elements from Brines: Unlocking Critical Minerals, Lithium, and Strategic Metals from Clean Geothermal Energy

By Robert Buluma Alphaxioms
Geothermal brines can become a meaningful source of rare earth elements (REEs) and other critical minerals, but the industry is still in an early, pre‐commercial phase where technology, economics, and policy need to align.  Why Geothermal Brines Matter for Critical Minerals Geothermal systems circulate hot, mineral-rich fluids through crustal rocks, dissolving metals and concentrating them in brines that already flow through wells for power and heat. Unlike conventional mining, which moves huge volumes of rock, geothermal operations tap fluids that are already being pumped, monitored, and handled for energy production.  Several factors make geothermal brines attractive for critical minerals: - They contain lithium, REEs, and other valuable metals at trace to moderate concentrations. - Infrastructure (wells, pipelines, power plants) already exists at many sites. - Co-production of minerals with baseload renewable energy lowers the carbon footprint of supply chains.  For co...
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Mazama Energy Raises $135M for Superhot Geothermal Power

By Robert Buluma Alphaxioms
Mazama Energy Raises $135M to Drill Superhot Geothermal Wells for AI Power Mazama Energy’s new $135 million Series B is a major signal that superhot geothermal is moving from frontier science toward real commercial deployment. The company says the capital will help it drill deeper, develop horizontal wells in superhot rock, and move closer to generating electricity next year from its Oregon project.   Mazama Energy’s $135 Million Funding Round Mazama Energy announced an oversubscribed Series B totaling $135 million, with backing from major climate and energy investors. The round was led by Centaurus Capital and Doerr Capital, and it also drew participation from ConocoPhillips, Shell Ventures, Khosla Ventures, Gates Frontier, SiteGround Capital, H. Barton Asset Management, and the Jeffrey and Marieke Rothschild Foundation.   That investor mix matters because it shows geothermal is attracting both traditional energy capital and venture investors. The company was incuba...
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Best US States for Geothermal Investment in 2026: Top Markets, Growth Opportunities, and Investor Insights

By Robert Buluma Alphaxioms
Best US States for Geothermal Investment The best US states for geothermal investment are California, Nevada, Utah, New Mexico, and Texas, with Oregon, Idaho, Alaska, and Arizona also offering attractive upside depending on whether you want operating assets, early-stage development, or next-generation geothermal exposure. Geothermal is becoming a broader investment story than it was a few years ago. Stronger drilling methods, rising demand for firm clean power, and more state-level policy support are widening the field beyond the traditional western hot spots. Introduction For investors , geothermal is one of the few clean energy technologies that can deliver round-the-clock power with a relatively small land footprint. That reliability is a big advantage in a market where utilities, data centers, and industrial customers increasingly want clean electricity that behaves more like conventional baseload generation. The challenge is that geothermal is highly location-dependent. The qualit...
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Global Geothermal Power Market Review 2026.

By Robert Buluma Alphaxioms
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...
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