Leader in next-gen geothermal development, Fervo Energy recently announced that it has secured US$255mn in funding which comprises both opportunistic corporate equity and new debt financing.
The Caribbean Development Bank (CDB) has approved a US$34.8mn loan to the Government Power Company (GPC) of Dominica for the construction of a 10MW geothermal power plant in a bid to strengthen the region’s energy security, reduce the production costs of electricity, and lower carbon emissions within the sector.
As the world faces growing energy demands due to the rise of artificial intelligence, data centers, and electrification, one promising solution lies beneath our feet.
Gradient Geothermal, a Colorado-based geothermal energy pioneer, has taken a significant step in bridging the gap between traditional energy production and sustainable practices.
Across the globe, momentum is building behind geothermal energy. In the US, the Biden-Harris administration identified it as one of the crucial components of facilitating a carbon-neutral grid by 2035, recently committing a further US$31mn to six geothermal projects across the country.
Situated just outside of Hinton, Alberta, the groundbreaking initiative represents a major step forward in geothermal energy development. With construction set to begin in early 2025, the project will drive both sustainable energy solutions and agricultural growth.