EIG has announced the initial closing of EIG Geothermal Catalyst Partners, a development fund focused on investments supporting next-generation geothermal projects in the USA.
The fund is designed primarily to provide mid-stage development capital to help advance geothermal projects through key technical and commercial milestones.
The move by EIG, a leading institutional investor in the global energy and infrastructure sectors, highlights a growing appetite among financiers for geothermal energy.
“We believe geothermal represents a compelling opportunity that has the potential to deliver scalable, reliable and low-carbon power using many of the same subsurface capabilities that have underpinned decades of energy development,” said Andrew Ellenbogen, EIG’s President of EIG.
“With EIG Geothermal Catalyst Partners, EIG seeks to apply its technical expertise and investment experience to help advance high-quality geothermal projects at an important stage in their development.”
By supporting projects at a critical stage of development, the fund aims to help de-risk opportunities and enable broader institutional participation in the geothermal sector over time, Ellenbogen added.
It also reflects EIG’s view that geothermal can play an increasingly important role in delivering firm, reliable and low-carbon power as global electricity demand continues to grow.
In a statement, EIG noted that it believes the sector is entering a “new era”, driven by technological innovation and improved project economics.
Headquartered in Washington, D.C., the company held US$25.4bn in assets under management as of 31 December, 2025.
“EIG has a long history of investing across the energy value chain, including technologies that support the energy transition while maintaining reliability and affordability,” said R. Blair Thomas, EIG’s CEO.
“The closing of EIG Geothermal Catalyst Partners reflects our conviction in geothermal’s long-term potential and our commitment to supporting innovative energy solutions that we believe can help meet growing global power demand.”