Europe

• Date: 6th August 2026

ENNA Geo, a member of the ENNA Group and leading  developer of geothermal projects in Croatia, has conducted 3D seismic and magnetotelluric surveys in the municipalities of Babina Greda, Sikirevci, and Gundinci to explore the geothermal potential of this area.

The  modern high-resolution 3D seismic and magnetotelluric data will give information on the geological structure of the subsurface, particularly for the less explored parts of the “Babina Greda 1” geothermal water exploitation field, as well as the “Babina Greda 2” exploration area.

The seismic survey was carried out using vibroseis trucks. Through the processing and interpretation of the collected data, and by integrating it with existing geophysical and well data, a fuller picture will be created of the geothermal reservoir itself, as well as for planning the further development of geothermal fields.

The surveys were conducted in collaboration with Geopartner Geofizyka, a company specializing in geophysical, geotechnical, and hydrogeological investigations across Europe.

ENNA Geo is currently developing two geothermal power plant projects in Croatia : Zagocha, near Slatina, with a planned grid connection capacity of 20 MWe, and Babina Greda, with a planned capacity of 15 MWe.

The GE Zagocha project is the most advanced geothermal power plant development project in Croatia. Once operational, the plant is expected to generate more than 130,000 MWh of electricity annually, enough to supply more than 42,000 households. At the Slatina 2 exploitation field, drilling has been completed to a depth of 4,582 metres, making it the deepest geothermal well in Croatia. Water temperatures of up to 211°C have been recorded at the site. The total investment in GE Zagocha is estimated at €162.3 million, with commercial operations planned to commence in 2030.

At Babina Greda, the geothermal well reaches a depth of 4,083 metres, with water temperatures of 180°C, making the resource suitable for electricity generation. In addition, there is potential to utilise residual thermal energy for industrial processes, greenhouse fruit and vegetable production, district heating, drying facilities and other applications.
The investment in Babina Greda is estimated at €121.8 million, with the geothermal power plant expected to enter operation in 2032.

ENNA Geo has also strengthened its position as a leading developer of geothermal resoures with an agreement to acquire IGeoPen d.o.o., a company owned by A14 Energy Limited, thereby obtaining three geothermal exploration licences at the Ernestinovo, Sječe and Pčelić sites.

Croatia is one of the newest geothermal hotspots in Europe, with the main potential lying in the Pannonian Basin. The temperature gradient in this region is 60 % higher than the European average and there is estimated to be more than 800 MW of undiscovered geothermal potential.

• Region: Europe
• Topics: Geothermal
• Date: 5th August 2026

In a further sign of capital inflows finding a way into the geothermal sector, Dutch firm 85 Degrees Renewable has announced a €200mn framework project finance facility to accelerate the growth of its renewable heat infrastructure platform.

The financing by two major banks, ING and Rabobank, supports the next phase of development and establishes a scalable platform for future growth, 85 Degrees Renewable noted a statement.

Bart Duijndam, CEO of 85 Degrees Renewable, said it represents much more than the successful closing of a debt transaction.

“It demonstrates the confidence that leading renewable infrastructure lenders ING and Rabobank have in our strategy and confirms that geothermal heat infrastructure has matured into an investable infrastructure asset class capable of attracting long-term project finance,” Duijndam said.

“Together with Gaia Energy, we are building a platform that will accelerate the decarbonisation of Dutch greenhouse horticulture while supporting the wider heat transition in the Netherlands.”

85 Degrees combines the long-term infrastructure investment expertise of Foresight with the geothermal development, construction and operational capabilities of Gaia Energy, one of the Netherlands’ most experienced geothermal developers.

The senior debt facility refinances the platform’s existing bridge facilities and provides funding for the next phase of development of the Central Oostland geothermal heat network in the Netherlands.

It also establishes a financing framework designed to support the long-term growth of the 85 Degrees platform, with the flexibility to expand to up to €200mn over time as the development pipeline progresses.

The 85 Degrees platform is centred around geothermal developments in the Central Oostland region with the initial build-out of its heat network in Bleiswijk and Berkel and Rodenrijs and is designed to expand through additional geothermal projects as demand for sustainable heat grows.

By supplying reliable renewable baseload heat, the platform enables greenhouse growers to reduce dependence on natural gas, strengthen long-term security of supply and improve the sustainability and competitiveness of one of the Netherlands’ most important export sectors.

The financing reflects the growing confidence of the banking community in the long-term potential of geothermal.

Gino Schuur, Head of Sustainable Finance Business Banking NL, ING, said the financing demonstrates how the bank is supporting the energy transition in the Dutch greenhouse horticulture sector.

“By providing 34 growers with access to geothermal heat, we are helping reduce reliance on natural gas while supporting the long-term sustainability and resilience of their businesses,” said Schuur.

“The financing structure also creates opportunities for future expansion of the heat network and additional geothermal developments.”

The 85 Degrees Renewable platform is built around long-term contracted heat sales, creating stable, predictable revenues while delivering environmental benefits.

Independent assessment by Impact Institute in accordance with ISO 14067 confirmed that the operating geothermal assets deliver heat with a carbon intensity of only 24 gCO₂/kWh.Methane naturally produced with the geothermal water is utilised to generate electricity for on-site operations, while the resulting CO₂ is supplied to greenhouse growers for use in crop production.

According to the statement, beyond decarbonising heat demand, geothermal energy can also contribute to solving one of the Netherlands’ most pressing infrastructure challenges.

“By delivering renewable heat directly to end users, geothermal reduces the need for additional electricity demand that would otherwise result from large-scale electrification of heating. As a result, geothermal can help alleviate pressure on the electricity grid in regions where network congestion increasingly constrains sustainable economic development."

• Region: Europe
• Topics: Geothermal
• Date: 29th July 2026

Arverne has announced the successful completion of its EUR€70mn issuance of ORANEs, representing a major milestone in the Group's financing strategy

• Region: Europe
• Topics: Geothermal
• Date: 28th July 2026

Vulcan Energy has announced the start of civil construction work at the 30 MW Lionheart geothermal power plant site in Landau, Germany.

Civil activities follow early bulk earthworks on the site and precede the next construction stage which will see the erection of buildings and arrival of process equipment for assembly.

“We are delighted to move beyond preparatory bulk earthworks and into civil construction activities at our Lionheart geothermal power plant — an integral part of the Lionheart integrated lithium and geothermal project,” said Vulcan’s Managing Director and CEO, Cris Moreno.

Located in the Upper Rhine Valley Brine Field between Germany and France, Lionheart — Vulcan’s first phase of production — is an important project for Europe’s energy and critical raw material resilience.

It involves the construction of an integrated lithium and renewable energy project targeting production capacity of 24,000 tonnes of lithium hydroxide monohydrate (LHM), enough for around 500,000 electric vehicle batteries per annum, with a co-product of 275 GWh of renewable power and 560 GWh of heat per annum for local consumers, over an estimated 30-year project life.

Current civil construction activities include preparation and construction of key foundations and concrete works for the power plant buildings and equipment, and building out road infrastructure.

“By producing our own baseload heat and power, where excess heat will be sold to local consumers, Lionheart is able to deliver low-cost lithium production with significant insulation from high energy prices now and in the future,” said Moreno.

Lionheart’s combined geothermal and lithium extraction facility has been designed to produce both renewable, baseload geothermal energy and high-quality lithium chloride intermediate product for downstream processing.

The commercial site, sitting on approximately 10 hectares, is under construction in the Messegelände Südost industrial park in Landau.

Both the lithium extraction and the geothermal energy plants will be connected to a network of pipelines and cables transporting lithium brine and industrial water from the well sites to Landau and back to the well sites for underground re-injection.

“It is encouraging to see Lionheart project execution progress on time, and on budget – a great start with our project partners,” said Moreno.

“Step by step, we are building cost competitive lithium production for Europe, and we look forward to keeping our shareholders abreast of further progress as the project develops.”

• Region: Europe
• Topics: Geothermal
• Date: 20th July 2026

The European Geothermal Energy Council (EGEC) has welcomed the publication of the European Commission’s Electrification Action Plan, but has expressed surprised that the Geothermal Action Plan was not published alongside it.

• Region: Europe
• Topics: Geothermal
• Date: 16th July 2026

CeraPhi Energy has announced the signing of a strategic agreement with Star Energy that will enable the transition of legacy oil and gas wells into geothermal energy centres across the UK.

• Region: Europe
• Topics: Geothermal
• Date: 9th July 2026

OMV and Energie Steiermark are teaming up to advance their deep geothermal energy project in Styria, southeastern Austria

At a joint event, the two companies presented ‘Tiefenkraft’ — an initiative to assess the region’s geothermal potential.

In the long term, this could deliver up to 670 GWh of geothermal energy annually by 2037, equivalent to around 50% of the district heating supply in the greater Graz area.

Crucially, the project is set to move into its next phase, with exploration drilling planned for late 2026, bringing a major geothermal heating source for Graz closer to reality.

Between February and April 2026, a seismic survey was carried out along 900 km of roads used as measurement lines. The data will form the basis for a detailed subsurface model as well as for the next project phases.

Berislav Gašo, OMV Executive Vice President Energy, said harnessing geothermal energy is key to securing an independent, climate-neutral heat supply in Austria.

“With our expertise in geology, drilling technology and project development, we are making a vital contribution to a joint assessment of the region’s geothermal potential with Energie Steiermark and helping lay the foundation for a sustainable heat supply.”

The next major step is a planned exploration well, Petersdorf 2, in St. Marein near Graz, with drilling expected to begin in the fourth quarter of 2026.

Preparatory work will begin in September 2026, with drilling currently scheduled to begin by the end of the year, subject to permitting and the completion of the drilling site construction.

The drilling and subsequent testing phase are expected to take around three to four months and will provide further insights into the geothermal potential and geological conditions.

If the results are positive, the next investment decision will cover the development of a first geothermal doublet — comprising one production and one injection well — along with comprehensive testing.

In parallel, two possible additional wells are planned to assess the feasibility of an Aquifer Thermal Energy Storage (ATES) system, enabling surplus heat to be stored underground and used seasonally.

During this period, planning and groundwork for a pipeline connection to the city of Graz will also take place.

A final decision on full implementation — including all production and injection wells, the construction of the pipeline connection to the district heating network and the installation of surface facilities — will be taken after completion of comprehensive testing, the two companies said.

First heat delivery could begin as early as 2030, the two companies reported.

“With ‘Tiefenkraft’, together with OMV we are taking a decisive and forward-looking step for the heat supply in Styria,” said Martin Graf and Werner Ressi, members of Energie Steiermark’s management board.

“This project represents the largest single investment in the history of Energie Steiermark and combines the expertise of two strong partners across the entire value chain. Deep geothermal energy is a key building block of the heat transition and will enable a significant share of Graz’s district heating to be supplied in a climate-friendly and regional way in the future.”

• Region: Europe
• Topics: Geothermal
• Date: 1st July 2026

The European Geothermal Energy Council (EGEC) has become a signatory to a new European tripartite agreement aimed at accelerating the deployment of energy storage technologies across the European Union — with geothermal storage highlighted among the solutions expected to support industrial decarbonisation and the energy transition.

Prepared by the European Commission, the agreement brings together energy ministers from 22 EU member states alongside organisations representing energy storage developers and manufacturers, renewable energy developers, energy-intensive industries and financial institutions.

It seeks to speed up the deployment of energy storage solutions, including battery and thermal energy storage, to support a cleaner and more resilient European energy system.

EGEC Secretary General Philippe Dumas said signing the agreement was a proud moment for the organisation.

“The agreement brings together key players including storage solution providers, power and heat producers, energy consuming industries and the district heating and cooling sector, plus the banks who have a key role to play in financing energy storage projects,” he said.

“With the strong backing and commitment from the European Commission and national governments, we are optimistic that this agreement will provide a platform for accelerating the deployment of underground thermal energy storage across the whole of the EU, as well as the supply of geothermal lithium for batteries.”

He added: “In this way we can continue to show how all kinds of geothermal storage solutions can contribute to achieving a more resilient, efficient and sustainable energy system.”

Under the agreement, the European Commission will support member states in developing funding schemes for energy storage projects and explore additional support through the Industrial Decarbonisation Bank and the Innovation Fund.

National governments have committed to removing barriers to deployment, while financial institutions will work to strengthen financing for storage projects and technology providers will collaborate with industrial energy users.

Alongside the signing on 26 June, the Commission highlighted several energy storage projects it considers replicable across Europe:

The GESIIS project in Ostellato, Italy, which integrates geothermal energy with high-temperature aquifer thermal energy storage.

The Korvenmäki waste-to-energy plant in Salo, Finland, where deep geothermal wells store surplus heat for the district heating network.

The Kuebebierg district heating and cooling project in Luxembourg, which combines seasonal solar-to-ground thermal storage with geothermal boreholes.

The agreement was signed during a ceremony in Luxembourg chaired by European Commissioner for Energy Dan Jørgensen.

• Region: Europe
• Topics: Geothermal
• Date: 24th June 2026

Europe must adopt a more coordinated approach to managing its underground resources if it is to unlock the full potential of geothermal energy and meet growing demands for the energy transition, according to a new position paper published by EuroGeoSurveys, a not-for-profit representing the continent's Geological Surveys.

• Region: Europe
• Topics: Geothermal
• Date: 22nd June 2026

Arverne Founder and CEO Pierre Brossollet is increasing his equity stake in the company, in a move the geothermal energy developer said reflects confidence in its long-term prospects.

• Region: Europe
• Topics: Geothermal
• Date: 19th June 2026

The British Geological Survey (BGS) has updated the UK geothermal catalogue of subsurface temperature measurements, rock thermal conductivity measurements and heat flow calculations.

Detailed subsurface information is required to be able to assess geothermal potential and the best way to exploit it, thereby accelerating the uptake of geothermal energy technologies.

The second digital version of the UK geothermal catalogue includes the addition of nearly 14, 000 more data points from 1,800 sites to inform geothermal assessments. It contains validated intellectual property rights and datasets from BGS-authored papers, new BGS thermal conductivity laboratory measurements as well as a bottom-hole temperature dataset from the UK Onshore Geophysical Library.

The files and an accompanying user guide can be accessed for use under the Open Government Licence, with the acknowledgement ‘Contains British Geological Survey materials © UKRI 2026’.

This data adds to the openly available geothermal data, models and information already contained within the UK Geothermal Platform and map explorer.

The UK Geothermal Platform, launched by BGS in 2025, is a freely available geothermal energy information hub providing a map overview of geothermal energy potential in the UK for four technologies, while a map explorer and a data access page provide detailed geoscientific datasets from several organisations. The platform provides national and local-scale information on geothermal potential across shallow and deep technology options, drawing together diverse information to deliver the information needed by heat policy, heat networks, the national zoning model and planning specialists. Users can assess the potential for towns, cities and industrial sites to be retrofitted with geothermal technology, and new development zones can be quickly assessed for strategic use of geothermal energy from the start of the development or planning cycle.

“The open release of the second digital version of the UK geothermal catalogue further adds to over 90 datasets and more than 60 reports that have been available on the UK Geothermal Platform since August 2025,” said Dr Alison Monaghan, head of BGS Geothermal.

“The data informs the feasibility stages of project developments, supporting the growth of the geothermal energy sector. The user guide describes the data sources and the acknowledged limitations with legacy datasets that are included.”

• Region: All
• Topics: Geothermal
• Date: 18th June 2026

News Sources Energy has signed a term sheet regarding the proposed strategic investment of geothermal drilling specialist Hydro Drilling.