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Croatia Signs Grant Agreement to Drill Four Geothermal Heating Wells

Croatia Signs Grant Agreement to Drill Four Geothermal Wells for Urban Heating Croatia has approved a major new investment to expand the use of geothermal energy for district heating in four cities. Velika Gorica, Osijek, Vinkovci, and Zaprešić are set to receive an additional EUR 35.3 million for geothermal development, including the drilling of four new wells that could support urban heating systems by 2030.  The funding marks the second phase of a broader geothermal program designed to convert Croatia’s underground heat resources into reliable, domestic energy for homes, public buildings, businesses, agriculture, and industry. Across the two phases, the total investment in the four locations is expected to reach approximately EUR 86 million.  The project is significant because it moves Croatia’s geothermal strategy beyond exploration. The country is now preparing the infrastructure needed to create production-and-injection well pairs, establish closed geothermal systems, an...

Green Therma deploys closed-loop geothermal demonstration in Groß Schönebeck, Germany

Green Therma deploys demonstration of closed-loop geothermal in Groß Schönebeck, Germany Green Therma has deployed its closed-loop geothermal demonstration at the Groß Schönebeck research site in Germany, and the project is now moving from installation into operation. The system is intended to test the company’s Heat4Ever/DualVac concept under real geothermal conditions at depths of more than 3 kilometers.  Green Therma deploys closed-loop geothermal demonstration in Groß Schönebeck, Germany Green Therma has reached an important milestone in the development of closed-loop geothermal technology with the deployment of its demonstration project at the Groß Schönebeck research site in Germany. The company says the system is now circulating water through a single-well closed-loop configuration, bringing geothermal heat to the surface from more than 3 kilometers underground.  The project is being carried out at the GFZ Helmholtz Centre for Geosciences’ geothermal research facility,...

Vulcan Energy Starts Lionheart 30MW Geothermal & 24,000tpa Lithium Plant , Landau

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...

Berlin's €1 Billion Geothermal Financing Deal: BEW Secures 20-Year KfW Syndicated Loan for District Heating Transition

Berlin’s Heating Transition Secures a Decade‑Defining Loan By: Robert Buluma In late April 2026, a quiet but decisive milestone was reached in Berlin’s energy landscape. Behind the scenes of the city’s vast district heating network—the largest in Western Europe—a consortium of nine banks finalised a syndicated loan of roughly one billion euros. The transaction, structured with a twenty‑year maturity and backed by a creative blend of public and private financing, effectively unlocks the financial foundation for Berlin’s most ambitious decarbonisation projects to date. This is not simply another infrastructure loan. It is a testament to how a city‑owned utility, a supportive state government, and a broad coalition of financial institutions can align around a common goal: transforming a fossil‑fuel‑dependent heating system into a climate‑neutral powerhouse by 2045. The deal also signals a new benchmark for energy infrastructure financing in Germany, potentially reshaping how similar proje...

Ruhr Region Germany: 1,640 km² Geothermal Exploration Permit Targets District Heating

Ruhr’s Geothermal Opening By:  Robert Buluma Germany’s largest geothermal exploration permit has been granted to a consortium planning to investigate the Ruhr region from Oberhausen to Hamm, and the significance goes far beyond a routine licensing milestone. The permit covers 1,640 square kilometers, making it the biggest geothermal exploration field in Germany to date, and it positions the Ruhr as a serious test case for urban geothermal heat at scale . This is a story about more than geology. It is about how a heavily industrialized region, with dense heat demand and established district-heating infrastructure, may be able to turn a deep subsurface resource into a practical climate strategy. If the exploration work succeeds, the project could reshape how Germany approaches low-carbon heating in cities and industrial corridors . 1 . The opening move The permit granted by the Arnsberg District Government opens the door for an extensive exploration phase under the banner “Erdwärme M...

Eavor Adjusts Course After Technical Hurdles at First‑of‑a‑Kind German Geothermal Project

Eavor Technologies achieved a significant breakthrough in December 2025 when its flagship closed‑loop geothermal project in Geretsried, Germany, began delivering electricity to the grid.  By:  Robert Buluma  The Canadian startup had completed the first of four planned underground loops and intended to start construction on the second loop in early 2026. That timeline has now been revised. The company encountered substantial engineering difficulties while drilling the initial wells, including borehole instability, slow penetration rates, equipment failures, and cement‑casing issues that allowed fluid to leak between parallel drilling rigs. Although Eavor resolved those problems, the setbacks increased both time and cost. As a result, the firm is now looking for new project partners and investors to help complete the next phase. The Geretsried site, located south of Munich, was chosen precisely because it is geologically challenging. Previous conventional geothermal attemp...

IGC 8th International Conference on Financing the Heat Transition

Powering the Future: Why the IGC Invest Geothermal Conference 2026 is a Must-Attend for Energy Leaders By: Robert Buluma   As the world races toward a net-zero future, one energy source is steadily moving from the sidelines to the center of the political and financial stage: Deep Geothermal Energy. While solar and wind have dominated the renewable conversation for decades, they leave a critical gap—baseload heat. Industrial processes and district heating networks cannot run on intermittent power alone. This is where geothermal steps in, offering a constant, inexhaustible, and local energy supply. However, the biggest hurdle has never been the technology itself; it has been the financing. Drilling deep into the earth is capital-intensive and carries geological risk. Bridging the gap between great geology and great returns requires a dedicated forum where capital meets engineering. That forum exists. From June 17 to 18, 2026, the IGC Invest Geothermal Conference returns to the Omnitu...

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Kaishan Targets 2 GW Kenya Geothermal Development Across Five Fields

Kaishan Targets 2 GW of Geothermal Development Across Kenya Kenya's geothermal sector has opened a potentially significant new chapter after Kaishan Group and the Geothermal Development Company (GDC) signed a collaboration framework agreement covering five geothermal blocks in the East African Rift Valley. Signed in Nairobi on September 14, 2026 , the agreement establishes a framework for the two parties to explore potential joint development of Silali, Paka, Korosi, Baringo and Suswa . According to Kaishan, the five areas have potential to support approximately 2 GW of installed geothermal capacity . The headline figure is substantial, but it is important to distinguish between resource potential and committed generation capacity . The framework agreement is non-binding. The parties will first conduct due diligence, assess the resources and negotiate development plans before potentially signing separate binding agreements for individual geothermal blocks. The development coul...

Next-Gen Geothermal Funding 2026: VCs, Banks, Government Capital

Who Is Really Funding Next-Gen Geothermal in 2026? Next-generation geothermal has moved beyond laboratory research into a capital-intensive commercialization phase. In 2026, the most important financing is no longer coming from one investor category: venture capital funds are financing drilling, subsurface modelling and hardware; strategic energy companies are providing equipment, project access and market credibility; banks are beginning to lend against contracted projects; and governments are absorbing exploration and first-of-a-kind technology risk. The strongest financing activity is concentrated in the United States and Canada, but Europe is becoming increasingly important through Germany-based deployment, European Union grants, UK innovation support, and strategic participation from European energy companies. The central investment question is changing from “Can this technology work?” to “Can the developer deliver repeatable, financeable projects at commercial cost?” The 2026 fun...

Jicarilla Apache Geothermal Study Wins $2.5 Million Grant

Jicarilla Apache Nation Launches $2.5 Million Geothermal Feasibility Study The Jicarilla Apache Nation in northern New Mexico has launched a major investigation into its geothermal energy potential after receiving a $2.5 million grant from the State of New Mexico. The funding will support a detailed feasibility study examining whether underground heat resources on tribal lands could be developed for electricity generation, direct heating, or other energy applications. The initiative represents an important step in the Nation’s efforts to understand and diversify its energy resources. Although the Jicarilla Apache Nation has not yet committed to building a geothermal facility, the study could provide the geological, technical, and economic information required for future investment decisions. The project is particularly significant because the Nation already has extensive experience with subsurface exploration through its oil and gas activities. Existing geological records, drilling inf...

France Geothermal Energy 2026: Heating, Power, Policy, Investment Growth

France's geothermal sector is at a crossroads. The country is Europe's undisputed leader in deep geothermal district heating, with the Paris Basin hosting the world's largest concentration of deep geothermal systems.  Yet geothermal still supplies only 1% of France's final heat consumption, and the Court of Auditors has warned that current ambitions are "unrealistic" without structural reform. ⚡ Deep Geothermal (Power Generation): Marginal Output, Major Potential Untapped France's geothermal power generation remains almost negligible. As of 2026, only two plants produce electricity: the Bouillante plant in Guadeloupe (15.5 MW) and the Soultz-sous-Forêt EGS pilot in Alsace (1.7 MW).  Total geothermal electricity production capacity was approximately 17.17 MW in 2023, forecast to reach just 19.47 MW by 2028. The Bouillante plant is set to double its production with a third unit scheduled for commissioning by the end of 2026, making it an exemplary model for ...

Billionaire Families Bet on Advanced Geothermal Energy Investments

Billionaire Geothermal Families Bet on Geothermal Billionaire families and private investment offices are placing increasingly large bets on geothermal energy, especially on technologies designed to make the resource available in more locations. Their investments are helping finance enhanced geothermal systems, advanced drilling, closed-loop designs, and other approaches that could transform geothermal from a regionally concentrated power source into a globally scalable clean-energy industry. The investment surge reflects a broader change in the energy market. Electricity demand is rising because of artificial intelligence, data centers, industrial electrification, electric vehicles, and the expansion of digital infrastructure. At the same time, utilities and large corporations need power that is reliable around the clock. Solar and wind remain essential to the clean-energy transition, but their output varies with weather and time of day. Geothermal could complement these technologies ...

Global Geothermal Investment 2026: 15 High-Growth Markets

Global Geothermal Investment 2026: 15 Markets Where Developers Should Look Next Geothermal energy is entering its most investable decade yet, with developers, drilling contractors, turbine suppliers and private capital providers scanning a widening map of opportunities beyond the traditional “big five” producers.  This article profiles 15 markets where project pipelines, policy signals, resource quality and technology readiness converge to create compelling entry points in 2026 and beyond.  Why 2026 Is a Turning Point for Geothermal Capital Global geothermal investment is accelerating as governments seek firm, low‑carbon baseload to back up variable wind and solar, while advanced drilling and subsurface engineering lower costs and expand the resource base. Market analysts project the geothermal energy market to reach roughly USD 13.56 billion by 2030, up from about USD 9.81 billion in 2025, implying sustained double‑digit growth in development spend. Capital is flowing not onl...

Geothermal Funding, August ,September 2027 With Intelligence into 2028

Geothermal Funding in August and September 2027: Investment Outlook and Intelligence Into 2028 Geothermal funding in August and September 2027 is likely to focus on projects that can demonstrate commercial resource potential, credible drilling plans, secure offtake, and a clear path to construction. The market will increasingly move beyond broad technology experimentation toward financeable geothermal assets supported by government grants, development-finance institutions, strategic investors, utilities, and corporate power buyers. The most significant investment themes will likely include enhanced geothermal systems , exploration drilling, closed-loop geothermal , data-center power supply, conventional geothermal expansion in East Africa, and blended finance for emerging markets. By 2028, investors are expected to distinguish more sharply between companies with proven technical performance and those still dependent on laboratory results or unconfirmed resource estimates. The 2027 Fun...

UOS Exploration Drilling Advances Next-Generation Geothermal Development

Września GT-1: Poland Begins a New Geothermal Drilling Project for Local Heat Poland is moving another step toward expanding geothermal energy as a local heat source, with drilling now underway on the Września GT-1 geothermal exploration well in Greater Poland. The project, being carried out in Września, is designed to determine whether underground thermal water can provide a sufficiently reliable resource for the municipality's heating system. The planned well is expected to reach approximately 1,460 metres , with preliminary estimates indicating thermal water temperatures of around 53–54°C and a potential production rate of at least 250 m³/h . The project is being supported financially by Poland's National Fund for Environmental Protection and Water Management (NFOŚiGW) and forms part of a wider national programme supporting geothermal exploration across Poland. For Września, however, the drilling campaign is about more than simply finding hot water. The results could d...

Aulnay-sous-Bois Advances Geothermal Heating Project After 2,000m Drilling

Aulnay-sous-Bois Advances Its Geothermal Heating Project After Completing 2,000-Metre Drilling Aulnay-sous-Bois, in the Seine-Saint-Denis department of France’s Île-de-France region, has reached an important milestone in the development of its local geothermal heating network. After approximately four months of work, drilling for the city’s geothermal project was completed during the summer of 2026. The well reaches nearly 2,000 metres beneath the surface, where the project will access the Dogger aquifer. At this depth, naturally occurring geothermal water reaches temperatures of approximately 70°C. Once the facility becomes operational, the heat extracted from the aquifer is expected to supply most of the energy required by Aulnay-sous-Bois’s district heating network. The project is scheduled to enter service before the end of 2026. According to Groupe Coriance, the geothermal system is expected to cover 93% of the network’s requirements, produce approximately 140 GWh of heat each yea...

Arverne secures Limagne geothermal lithium permit to boost supply

Arverne expands geothermal asset portfolio with new lithium exploration permit in Auvergne Arverne secures 442.7 km² PER “Bassin de Limagne” near Clermont-Ferrand French geothermal developer Arverne (Euronext: ARVEN) has been granted an exclusive research permit (Permis Exclusif de Recherches, PER) for lithium and related substances covering the “Bassin de Limagne” in Puy‑de‑Dôme, Auvergne. The five‑year permit, announced 3 September 2026, spans 442.68 km² and adds to Arverne’s growing national portfolio of PERs: the company now holds nine permits in France, three of which are focused on lithium. The award underscores Arverne’s strategy to combine geothermal heat production with geothermal lithium extraction — an integrated model the company is already deploying elsewhere in France. For the Auvergne permit, Arverne emphasizes that the Bassin de Limagne area overlaps with its existing PER for the Riom‑Clermont‑Métropole, where 3D exploration studies have previously evaluated the subsurf...