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Global Geothermal Power Market Review 2026.

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...

From Orphan Wells to Clean Power: Colorado’s Bold Geothermal Shift

Gradient Geothermal Supporting First-in-the-Nation Colorado Initiative to Transform Orphan Oil & Gas Wells into Geothermal and Carbon Storage Assets By: Robert Buluma In a groundbreaking move that bridges the fossil fuel era with a clean energy future, Gradient Geothermal, a Denver-based innovator in geothermal technology, has announced its support for a pioneering technical study led by Colorado's Energy and Carbon Management Commission (ECMC) and the Colorado Energy Office (CEO). Announced on March 3, 2026, this initiative marks the first statewide effort of its kind to repurpose orphaned oil and gas wells long considered environmental liabilities—into valuable assets for geothermal energy production and carbon capture and sequestration (CCS). Orphaned wells are abandoned oil and gas wells with no identifiable owner or operator responsible for plugging them. In Colorado, the ECMC oversees an Orphaned Well Program that identifies, prioritizes, and addresses these sites to pr...

Yeager Energy Expands Geothermal in Bergschenhoek with Second Doublet

Yeager Energy Expands Geothermal Footprint in Bergschenhoek: A Major Boost for Sustainable Heat in Dutch Greenhouse Horticulture By: Robert Buluma In the heart of the Netherlands’ vibrant greenhouse sector, a quiet revolution is underway. Deep beneath the fertile polders of Bergschenhoek, in the Oostland region of South Holland, Yeager Energy is accelerating its commitment to clean, reliable, and affordable energy. The company recently announced plans to expand with a second geothermal doublet — and possibly a third — at the Schreyrackseweg site in Bergschenhoek. This development builds directly on the existing successful operation (formerly Wayland Energy) and signals growing momentum in the Dutch geothermal sector, particularly for one of the country’s most energy-intensive industries: greenhouse horticulture. This expansion comes at a critical time. Dutch greenhouses, which produce a significant portion of Europe’s vegetables, flowers, and plants, face immense pressure to decarbon...

Mercury Opens Fifth Unit at Ngā Tamariki Geothermal Station

Mercury New Zealand' s recent milestone at the Ngā Tamariki Geothermal Station marks a significant advancement in the country's push toward a sustainable, renewable energy future.  By :  Robert Buluma On March 17, 2026, Mercury officially opened the fifth generation unit at the station near Taupō, following the project's announcement in 2023, groundbreaking in 2024, and remarkably swift completion in under two years. This $220 million expansion enhances New Zealand's renewable energy capacity at a time when electricity demand is rising due to electrification trends, population growth, and economic needs. Background on Ngā Tamariki Geothermal Station Located about 17 km northeast of Taupō in the central North Island, Ngā Tamariki has been operational since 2013. The station harnesses the region's abundant geothermal resources from the Taupō Volcanic Zone, one of the world's most active geothermal areas. Prior to the expansion, it featured four generation units w...

PGE Invests $3 Million in Green Hydrogen Pilot: Indonesia's Geothermal Leap Toward Net-Zero

PGE's $3 Million Leap into Green Hydrogen: Pioneering Indonesia's Sustainable Energy Revolution By: Robert Buluma  In an era where climate change looms large and the world races toward net-zero emissions, Indonesia's energy giant PT Pertamina Geothermal Energy (PGE) is making waves with a groundbreaking initiative. Announced on February 11, 2026, PGE is investing approximately three million US dollars in a green hydrogen pilot project at Ulubelu, Lampung. This isn't just another corporate announcement—it's a bold step toward transforming geothermal power into a clean fuel source that could redefine low-carbon energy strategies. Imagine harnessing the Earth's natural heat to produce hydrogen that's as green as the forests of Sumatra. Intrigued? Let's dive deeper into this captivating story of innovation, sustainability, and national pride. The Rise of Green Hydrogen: A Game-Changer in the Energy Transition Green hydrogen is often hailed as the "fue...

Vulcan Energy's G-LEP Plant in Landau Paves the Way for Europe's Sustainable Lithium Revolution

Breaking Ground: Vulcan Energy's G-LEP Plant in Landau Paves the Way for Europe's Sustainable Lithium Revolution By: Robert Buluma In the heart of Germany's Rhineland-Palatinate region, a groundbreaking ceremony marked the laying of the foundation stone for the first optimized Geothermal and Lithium Extraction Plant (G-LEP) in Landau, spearheaded by Vulcan Energy Resources, an Australian-German company. As Petra Dick-Walther, State Secretary in the Ministry for Climate Protection, Environment, Energy, and Mobility of Rhineland-Palatinate, described in her recent social media post, this project represents a "quantum leap into the future." It enables the simultaneous extraction of climate-neutral lithium and generation of renewable energy from the hot thermal beds of the Upper Rhine Graben, opening new avenues for Germany's energy transition, supply security, and Europe's sovereignty over critical resources. Lithium, a key component in batteries for electri...

Geothermal Exploration Planned in Ayvacık, Türkiye – Doğal Hayat Project

Doğal Hayat Geothermal plans to drill an exploration well in Yeşilyurt, Ayvacık, Türkiye, to assess local geothermal potential for sustainable agriculture and tourism. By: Robert Buluma The project’s main goal is to evaluate the local geothermal potential and explore sustainable uses for agriculture and tourism. The plan includes drilling an exploration well (YO‑01) on parcel 160, block 7, within the company’s geothermal licence area (access number 3248844). The site spans roughly 9,000 m² of privately owned land, strategically chosen for its geothermal potential. Because the land is classified as an olive grove, all operations will comply with Turkey’s Olive Tree Law (No. 3573) and Soil Protection and Land Use Law (No. 5403). The regulatory authority has determined that a full Environmental Impact Assessment (EIA/ÇED) is not required at this stage. If geothermal resources are confirmed, Doğal Hayat Geothermal plans to develop tourism and agricultural applications, including thermal to...

Kenya’s Geothermal Power Fuels Africa’s First Green Ammonia Revolution

From Steam to Soil:  KenGen and Kaishan Pioneer Kenya’s Green Ammonia Revolution By:  Robert Buluma Kenya is taking a bold step toward green industrialization. In a landmark collaboration, KenGen and Kaishan  Group have teamed up to develop Africa’s first large-scale geothermal-powered green ammonia and fertilizer plant at Olkaria in Naivasha. The project, valued at around $800 million , will utilize 165 MW of geothermal steam and power supplied by KenGen under a 30-year agreement. Kaishan’s subsidiary, Kaishan Terra Green Ammonia Limited , will construct and operate the facility, which is expected to produce over 100,000 tons of green ammonia annually—processed into fertilizer products like urea and ammonium nitrate. Transforming Kenya’s Energy and Agricultural Landscape This project marks a turning point for Kenya’s geothermal sector. It extends the value of geothermal energy beyond electricity generation, proving that steam can fuel not just turbines—but also ...

Ormat Technologies Expands U.S. Geothermal Portfolio with Acquisition of Blue Mountain Power Plant in Nevada

Ormat Technologies Acquires Blue Mountain Geothermal Power Plant for $88 Million Strategic Expansion in the U.S. Geothermal Energy Market By: Robert Buluma In a significant move poised to strengthen its foothold in the U.S. renewable energy sector, Ormat Technologies Inc. has announced the acquisition of the Blue Mountain geothermal power plant located in Humboldt County, Nevada . This 20 MW facility, formerly owned by Cyrq Energy , was acquired for USD 88 million , marking a strategic milestone in Ormat's ongoing growth strategy. This acquisition demonstrates Ormat’s commitment to bolstering its geothermal energy portfolio in the United States while contributing to the nation's clean energy goals. The Blue Mountain geothermal project not only adds capacity to Ormat’s existing generation assets but also sets the stage for further technological and operational enhancements.  Overview of the Blue Mountain Geothermal Power Plant The Blue Mountain facility, originally commis...

Driving the Heat Transition in Hanover with Eavor Technology

  A Climate-Neutral Future for Hanover’s District Heating By: Robert Buluma The city of Hanover is taking a bold step toward a climate-friendly future with the implementation of an innovative geothermal energy project by Eavor in collaboration with enercity.  This groundbreaking initiative aims to cover 15 to 20 percent of Hanover’s district heating needs using cutting-edge Eavor-Loop™ technology, significantly reducing reliance on coal-fired power plants and advancing the city's heat transition goals. The Hanover Geothermal Project: A Game Changer for District Heating Eavor is developing two Eavor-Loops™ in the Lahe district, each with a heat output of 15 MW. Once operational, this system will generate up to 250 million kilowatt hours of geothermal energy annually. This is equivalent to supplying heat for approximately 20,000 homes within the enercity supply area, ensuring a stable, renewable, and climate-neutral energy source. Replacing Coal with Sustainable Geothermal Energ...

Sanko Energi Announces Record-Breaking Discovery: Turkey’s Hottest Geothermal Production Well at 308°C

In a major breakthrough for renewable energy in Turkey, Sanko Energi has announced the successful discovery of what is now being hailed as Turkey’s hottest geothermal production well reaching an astonishing 308 degrees Celsius.  By:  Robert Buluma This record-setting temperature not only underlines the immense potential of Turkey’s geothermal resources but also marks a pivotal moment in the nation’s sustainable energy journey. A New Chapter in Turkey’s Geothermal Revolution Turkey has long been recognized as a geothermal powerhouse, thanks to its unique geological structure and abundant geothermal reservoirs. The discovery of a production well reaching 308°C by Sanko Energi pushes the limits of what was previously thought possible and signals a promising future for the country’s renewable energy sector. Key Highlights of the Discovery: Unprecedented Temperature: At 308°C, this well sets a new record for geothermal production in Turkey. Enhanced Production Potential: ...

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Top 10 Critical Geothermal Energy Problems Costs Risks Seismicity

Top 10 Geothermal Problems: Why a 24/7 Resource Still Struggles to Scale Image credit : Fida, C.E.O Geosilica... This is what scaling looks like downhole in geothermal pipes Intelligence; Strategy for the Geothermal Decade Geothermal energy is often presented as the clean firm resource that can support a renewable electricity system around the clock. It does not depend on sunshine, it can operate through calm weather, and it can provide heat and power for decades. Kenya already relies heavily on geothermal generation , Iceland uses geothermal heat across its economy, and next generation developers are now signing large power contracts with technology companies seeking reliable carbon free electricity. Yet the global geothermal sector remains small compared with solar and wind, with installed electricity capacity still near 16 GW.  That gap is not caused by one obstacle. It is produced by a chain of interlocking problems involving geology, drilling, finance, permitting, public acce...

New Mexico Tribal Geothermal Development: Energy Sovereignty, Jobs, Investment

New Mexico’s Tribal Lands Poised for Geothermal Development: Opportunity, Challenges, and Pathways to Energy Sovereignty Image:  Located in Lordsburg, Lightning Dock is the only utility scale geothermal power plant in New Mexico. (BLM New Mexico via Flickr) Why geothermal matters for New Mexico tribes, nations, and pueblos Geothermal energy uses heat from the earth to produce electricity or heat buildings directly. For New Mexico — a state with abundant subsurface heat resources — geothermal offers a reliable, low‑emission complement to wind and solar. Unlike intermittent renewables, geothermal provides baseload power capable of supporting grid stability and reducing reliance on fossil fuels. For tribal communities, geothermal has particular appeal: it aligns with many Indigenous values around stewardship, can be developed with relatively low water demand compared with some thermal technologies, and offers long‑term revenue, jobs, and enhanced local control over energy resources. E...

Global Geothermal Power Market Review 2026.

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...

North America Geothermal Energy Investment Opportunities, Companies, Resources, and Market Outlook

Investment Opportunities in North American Geothermal Energy North America is entering a new investment cycle in geothermal energy. The United States offers the region’s deepest commercial market and the largest advanced-geothermal pipeline; Mexico provides proven high-temperature volcanic resources and an established utility-scale industry; while Canada presents an earlier-stage opportunity centered on sedimentary-basin geothermal, direct-use heating, closed-loop systems, and oil-and-gas technology transfer. The investment case now extends well beyond conventional geothermal power plants. It includes enhanced geothermal systems, advanced closed-loop systems, geothermal heat pumps, district heating, industrial heat, geothermal storage, lithium extraction from geothermal brines, data-center power, and hybrid renewable-energy projects. In the United States, utilities had already procured or agreed to procure 1,007 MW of next-generation geothermal capacity through 12 power-purchase agreem...

Serbia Advances Mišeluk Geothermal District Heating Project in Novi Sad

Serbia Advances Geothermal Drilling for the Mišeluk District Heating Plant in Novi Sad Serbia is moving forward with plans to develop a geothermal district heating system in Mišeluk, a rapidly urbanizing area of Novi Sad. The project is intended to place geothermal energy at the centre of a new low-carbon heating network, supported by solar power and natural gas backup. Exploratory drilling and construction of the heat distribution network are being carried out by JKP Novosadska toplana, Novi Sad’s public district heating utility. The initiative is supported through the United Nations Development Programme’s “Geothermal Energy in Serbia” programme, with financial backing from Slovakia.  The Mišeluk project is important not only because it could provide a new renewable heat source for Novi Sad, but also because it demonstrates how geothermal energy can be integrated into urban development from the earliest planning stages. Rather than retrofitting a geothermal system into an establi...

Alphaxioms Interviews Rystad Energy: Geothermal's Inflection Point, Policy, and Drilling Breakthroughs

Geothermal at an Inflection Point: Why Policy, Conventional Resources, and Drilling Breakthroughs Will Define the Next Decade This interview was conducted by Robert Buluma on behalf of Alphaxioms,  responses delivered by  Alexandra Gerken Product manager, Geothermal solution at Rystad Energy   Introduction: The Strategic Crossroads for Geothermal Geothermal energy is entering a decisive phase. After decades of steady but regionally concentrated development, the sector now faces a confluence of technological innovation, policy ambition, and market demand that could either unlock global scale or confine geothermal to niche applications. Alexandra Gerken, Product Manager for Geothermal Solutions at  Rystad Energy , offers a clear-eyed assessment of where the industry stands, which technologies will drive near-term growth, and what must happen for geothermal to become a globally significant source of firm, low-carbon power. Her analysis emphasizes three pillars: the imme...

PT Geo Dipa Energi Launches Strategic Minor Overhaul Tender for Dieng Unit 1 to Strengthen Geothermal Reliability

PT Geo Dipa Energi Opens Tender for Minor Overhaul of Dieng Unit 1 in 2026 Image: Indonesian Geothermal power plant PT Geo Dipa Energi (Persero) has opened a tender for the minor overhaul of the Dieng Geothermal Power Plant Unit 1 in 2026, signaling a continued focus on preserving the reliability of one of Indonesia’s most important geothermal assets. The procurement is aimed at selecting a qualified contractor with proven experience in turbine and generator maintenance for thermal power plants, underscoring the technical complexity and operational importance of the work. The tender, identified as RKS-004-PST/GDE/I/2026, uses a post-qualification bidding method and applies strict administrative, technical, and safety requirements. The schedule places document registration and collection between 26 and 28 January 2026, followed by a mandatory RKS explanation session and field visit on 29 January 2026. Procurement Scope and Process The procurement procedure requires prospective bidders...

Texas Geothermal Energy Growth: RRC Permits, Geopressured Storage, and Shallow Well Expansion in 2026

Geothermal Energy Gains Ground in Texas Under RRC Leadership Texas is better known for oil and gas, but over the last three years the state has rapidly expanded its geothermal footprint under the regulatory oversight of the  Railroad Commission of Texas (RRC) . From permitting deep geopressured wells for long-duration energy storage to a surge in shallow closed-loop ground-source systems used for heating and cooling, geothermal technologies are moving from pilot projects into commercial-scale development. The RRC’s transfer of geothermal jurisdiction from the  Texas Commission on Environmental Quality (TCEQ) in September 2023, combined with carefully calibrated rules and a permissive permitting pathway, have helped accelerate deployment while preserving environmental and safety safeguards. This article examines the technical and regulatory developments that underpin the growth of geothermal energy in Texas, assesses commercial opportunities and constraints, and outlines the o...

INL Expert Trevor Atkinson Reveals Geothermal's Path to Scalability and Breakthroughs

Exclusive Insights from INL's Trevor Atkinson: The Future of Enhanced Geothermal Systems (EGS) , Critical Minerals , and Why Geothermal Lags Behind Wind & Solar Published on Alphaxioms Geothermal Insghts   Date: [February 26, 2026]   By Robert Buluma In a detailed email interview, Trevor Atkinson, Research Scientist in Geothermal Energy and Subsurface Systems at Idaho National Laboratory (INL) , shares candid perspectives on the field's priorities, breakthroughs, barriers, and potential. His work focuses on subsurface characterization, reactive-transport modeling, AI optimization, and integrating geothermal with critical mineral recovery. 1. What is INL’s most important geothermal research priority today, and why?   Advancing Enhanced Geothermal Systems (EGS ) through physics-based modeling and AI-driven optimization. My research focuses on subsurface characterization and reactive-transport modeling, which are essential for predicting fluid–rock interactions and...

Chicago’s Geothermal-Powered High-Rise Could Redefine Sustainable Urban Development

Chicago’s Geothermal-Powered High-Rise Could Redefine Sustainable Urban Development Chicago is preparing to welcome one of its first all-electric, geothermal-powered residential high-rises—a 33-story tower at 410 N. Elizabeth Street in Fulton Market. The project could demonstrate how large urban buildings can reduce fossil-fuel dependence, lower operating costs and cut carbon emissions without sacrificing density, comfort or year-round reliability.  A New Model for Chicago High-Rise Construction The 410 N. Elizabeth Street development is being built by Tree Street Group in partnership with Magellan Development Group and  Mark Goodman & Associates . The first phase will deliver 383 apartments, including 77 designated affordable units, while a planned second tower would bring the overall development to more than 724 residences and 146 affordable homes.  The project is also expected to include ground-floor retail, public green space and a 30-foot-wide pedestrian walkway...