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Geothermal Funding, August ,September 2027 With Intelligence into 2028

By Robert Buluma Alphaxioms
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...
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Kenya’s Energy Crossroads: Gulf Energy Takes Over Tullow Oil in Turkana’s Geothermal-Rich Fields

By Robert Buluma Alphaxioms
Gulf Energy  Takes Over Tullow Oil’s Turkana Fields – Oil Drilling to Overlap a Geothermal Hotspot By:  Robert Buluma In a landmark energy shift for Kenya, British explorer Tullow Oil  has officially exited the country after 14 years , selling its Turkana operations to Gulf Energy  in a deal worth Ksh.16 billion (USD 120 million). The transition marks the end of  Tullow's chapter in Kenya and the beginning of a new phase that could reshape not only oil production but geothermal exploration as well. The takeover grants  Gulf Energy full control of the Turkana oil project , situated in a geologically active zone that also happens to host significant geothermal potential. Beneath Turkana’s arid landscapes, volcanic systems create natural heat reservoirs turning the region into a rare frontier where oil and geothermal energy converge. Tullow Oil  first entered Kenya in 2010, striking the Ngamia-1 discovery well in 2012, which ignited hopes of the countr...
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GDC and Turkana County Goverment Reaches Consensus On Geothermal Project

By Robert Buluma Alphaxioms
Turkana County Government and Geothermal Development Company Sign Collaborative Framework Agreement for Geothermal Development By : Robert Buluma In an exciting development for the region, the Turkana County Government and the Geothermal Development Company  GDC have signed a groundbreaking Collaborative Framework Agreement (CFA). The agreement marks a major milestone in the pursuit of harnessing Turkana County’s geothermal potential, opening doors to significant economic growth and opportunities for the local community. Key Areas of Collaboration The CFA outlines several strategic areas where both parties will collaborate to unlock the full potential of Turkana's geothermal resources. These key points include: Joint Marketing of Geothermal Opportunities : Both parties will work together to promote and market geothermal opportunities in the region to attract investment and expertise. Collaboration in Scientific Surface Studies : A strong focus will be placed on conducting in-d...
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DOE awards $99M to 21 projects to accelerate U.S. geothermal development

By Robert Buluma Alphaxioms
By Alphaxioms WASHINGTON , On September 21, 2026, the U.S. Department of Energy announced a targeted investment of more than $99 million to accelerate geothermal deployment across the United States. The funding , awarded to 21 projects , aims to bridge the gap between laboratory promise and field-proven performance by supporting two critical tracks: field-scale enhanced geothermal systems (EGS) tests and exploration drilling for next-generation geothermal resources. At a moment when policymakers and markets seek reliable, on‑demand clean power, the DOE’s package represents both a significant bet on American geothermal innovation and a practical push to lower technical and development risk for future commercial projects. Why this matters now Geothermal energy sits at a strategic intersection of reliability, decarbonization, and grid resilience. Unlike wind and solar, geothermal provides baseload, around-the-clock power , a quality increasingly prized as variable renewables expand. Yet...
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Fervo Cape Station First Power: EGS Geothermal 24/7 Carbon-Free Baseload

By Robert Buluma Alphaxioms
Fervo Energy Achieves First Power at Cape Station: A Bullish Inflection Point for Enhanced Geothermal Systems Fervo Cape Station First Power Validates EGS as Scalable 24/7 Carbon-Free Baseload Fervo Energy’s September 24, 2026 announcement that its Cape Station project in Beaver County, Utah has achieved First Power marks a watershed moment for the geothermal industry and the broader clean-energy investment landscape.  This is not just another project milestone,it is the first time anywhere in the world that a greenfield, utility-scale enhanced geothermal systems (EGS) development has synchronized to the grid and begun exporting electricity.  The implications are profound: EGS has crossed from promising pilot to commercially proven, repeatable technology capable of delivering firm, 24/7 carbon-free power at gigawatt scale.  For investors, developers, utilities, and hyperscale data-center buyers, Cape Station’s First Power is a de-risking event. It signals that Fervo’s oil...
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"US Geothermal Tax Credits 2026: What the IRA/45Q Changes Mean for Developers"

By Robert Buluma Alphaxioms
US Geothermal Tax Credits in 2026: What Is Actually Still Alive After OBBBA For an industry that spent more than a decade building financial models around a stable federal incentive structure, 2026 has been a year of whiplash. The 30% federal geothermal tax credit that developers and homeowners built forecasts around is gone in one form and still alive in another, and even the IRS’s own public guidance has been confusing enough to trigger uncertainty across the market. That confusion is not a minor clerical issue. It is shaping investment decisions, contractor sales pitches, homeowner timelines, and project finance assumptions right now. If you work in geothermal, the key question is no longer whether federal incentives exist, but which incentive applies, to which project type, and under what ownership structure. The law that changed the timeline To understand where things stand in 2026, you have to start with the Inflation Reduction Act of 2022, which created a long runway for clean e...
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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 subsurf...
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MB Centuary sells a drilling rig

By Robert Buluma Alphaxioms
MB Century sells Rig 32 to Webster Energy Services: what the move means for New Zealand geothermal drilling MB Century and Webster Energy Services have agreed the sale of MB Century’s Drillmec HH350 drilling rig, Rig 32, with completion slated for December 2026 after the rig finishes its current campaign for Tūaropaki Power Company. The transaction signals a strategic shift for MB Century,moving away from direct drilling ownership toward concentrating on engineering, reservoir and technical services,while Webster Energy uses the acquisition to deepen its footprint in the New Zealand geothermal market. This article summarises the deal, then drills into the operational, market and workforce implications for New Zealand’s geothermal sector, the strategic logic for both companies, and what the transaction suggests about capacity, competition and future drilling trends. Deal overview and timeline Parties: MB Century (seller) and Webster Energy Services (buyer). - Asset: Drillmec HH350 rig k...
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OrPower 22 and Globeleq Add 70 MW to Kenya Grid

By Robert Buluma Alphaxioms
OrPower 22 and Globeleq Add 70 MW to Kenya’s Grid Kenya’s geothermal sector has reached another major milestone with the completion of two new power plants at the Menengai geothermal field. Developed by OrPower 22 and Globeleq, the plants add a combined 70 MW to the national grid, reinforcing Kenya’s position as one of the world’s leading geothermal markets.   A long-awaited addition The Menengai project has been under development for nearly a decade, making its completion significant not only for the developers but also for Kenya’s wider power system. The two plants now delivering electricity each contribute 35 MW, bringing the total new capacity from the site to 70 MW.  This is more than a routine capacity expansion. For Kenya, every major geothermal addition helps reduce reliance on weather-sensitive generation and strengthens the country’s ability to provide stable baseload electricity. Menengai’s arrival also shows that large geothermal developments, while slow to ma...
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DOE Allocates $10.75 Million for University Geothermal Research and Workforce Training

By Robert Buluma Alphaxioms
DOE’s $10.75 Million University Push Could Reshape the Geothermal Talent Pipeline Image: Thematic image of a geothermal power plant   The U.S. Department of Energy’s Hydrocarbons and Geothermal Energy Office has announced up to $10.75 million for U.S. colleges and universities to support early-stage research and training in subsurface energy development. The program sits inside the University Training and Research framework, and it is designed to strengthen the next generation of energy professionals while advancing research relevant to geothermal, oil and gas, and coal-related subsurface challenges . This announcement matters because it goes beyond a simple grant call. It connects university research, student training, and industry relevance in one funding structure, which is exactly the kind of model geothermal advocates have long argued is needed to accelerate deployment. For the U.S. geothermal sector, the message is clear: talent development is now part of energy infrastruct...
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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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Superior Energy’s Welltec Deal Boosts Global Geothermal Reach

By Robert Buluma Alphaxioms
Superior Energy’s Welltec Deal Signals a Bigger Push Into Intervention, Completions, and Energy Transition Markets Superior Energy Services ’ planned acquisition of Welltec is a strategically important move that expands its robotic well intervention and completions capabilities while widening its international reach. The deal also gives Superior a stronger foothold in geothermal and carbon capture applications, where Welltec already markets its technology.  A broader technology platform Superior said Welltec brings proprietary robotic, wireline-conveyed well intervention solutions and metal expandable packer technologies, backed by more than 800 active patents and roughly 1,000 employees. The company’s Well Tractor system and related downhole tools are central to its intervention offering, while its MEP products support zonal isolation and well integrity.  That matters because these are not commodity services. They are specialized, high-value technologies that can deepen cus...
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Chiyoda and Sage Geosystems Advance Next-Generation Geothermal Power

By Robert Buluma Alphaxioms
Chiyoda and Sage Geosystems Advance Next-Generation Geothermal Chiyoda Corporation and Sage Geosystems have signed a memorandum of understanding to conduct a technical and commercial feasibility study for high-pressure surface facilities tied to Sage’s proprietary enhanced geothermal systems approach. The announcement is an important step for next-generation geothermal because it focuses on the infrastructure needed to turn deep subsurface energy into reliable commercial power. The study is not a full build decision, but it is the kind of engineering work that usually comes before one. It will help determine whether Sage’s pressure-based geothermal concept can be translated into a scalable, bankable power-generation system. What the partnership covers The collaboration centers on the surface equipment required to handle high-temperature, high-pressure fluid produced from wells. Sage will provide key operating inputs, including wellhead pressure, temperature conditions, fluid proper...
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