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- Region: Asia Pacifc
- Topics: Geothermal
- Date: 27th August 2026
The Asia Pacific Geothermal Energy Market was valued at US$4,977.3mn in 2025 and projected to reach to US$6,692.1mn by 2030, representing a compound annual growth rate of 6.1%, according to a recent report from Market and Markets.
Sustained expansion
According to the report, Asia Pacific's geothermal energy market is poised for sustained expansion driven by:
- rising demand for baseload power, with growing industrial and residential energy needs
- energy diversification initiatives and climate commitments
- technological innovation, with the adoption of advanced drilling technologies and enhanced geothermal systems (EGS)
- supportive regulatory frameworks
- substantial government investments in renewable infrastructure.
Asia Pacific's geothermal energy market benefits from abundant geothermal resources, particularly around the Pacific Ring of Fire, a chain of volcanoes and seismically active sites spanning around 25,000 miles. It is leveraging these natural advantages to develop both utility-scale and direct-use geothermal applications.
Between 2025 and 2030, Asia Pacific is expected to see accelerated capacity additions driven by supportive government policies, declining development costs, and growing energy security concerns, with strategic partnerships between private and public sectors. Asia Pacific's geothermal market remains strategically important for regional decarbonisation goals and energy independence.
Investments and partnerships
The region continues to attract international investment and technology partnerships to unlock its substantial geothermal potential and meet rising electricity demand sustainably. For example:
- Baseload Power Taiwan and CPC Corporation, Taiwan (CPC) signed an MoU in June to accelerate geothermal development in the country through CPC’s local expertise and Baseload’s international geothermal experience. The companies will explore opportunities to develop geothermal projects across Taiwan, beginning with the Tuchang project in Yilan County, collaborating on resource evaluation, technical collaboration, due diligence, feasibility studies, and commercial decisions.
- KS Orka Renewables Pte. Ltd. announced a strategic partnership with Halliburton in February to support geothermal project development across its project sites in Indonesia, including PT Sorik Marapi Geothermal Power (SMGP) in North Sumatra and PT Sokoria Geothermal Indonesia (SGI) in East Nusa Tenggara.The collaboration forms part of KS Orka Renewables Pte. Ltd.’s ongoing efforts to enhance competitive geothermal well development in Indonesia. The partnership aims to improve drilling efficiency, optimise costs, and accelerate the deployment of geothermal energy as a clean and reliable electricity source for the country. It will support geothermal well construction across multiple development phases at both project sites.
China dominates
China dominates the Asia Pacific geothermal energy space with a market size of US$3,573mn, representing over 71% of the regional market and driving significant technological advancement and capacity expansion across the region.
Indonesia and the Philippines together represent US$ 2,346mn in market value, positioning Southeast Asia as a critical growth corridor for geothermal development with abundant natural resources and increasing energy demand.
- Region: Europe
- Topics: Geothermal
- Date: 26th August 2026
Cornish Lithium’s Cross Lanes Geothermal Lithium Project in Cornwall, UK, is advancing with the award of an integrated well services contract to Halliburton
Cross Lanes Geothermal Lithium Project
Cornwall's mineral-rich waters offer strong potential for sustainable lithium extraction. Cornish Lithium, which is commited to developing a secure, sustainable and domestic supply of lithium to support the UK's energy transition, plans to responsibly develop a number of geothermal projects across Cornwall, each capable of producing between 500 and 1,000 tonnes of lithium carbonate equivalent per year. Cornish Lithium first drilled and tested an exploration borehole at Cross Lanes in 2023, which confirmed that lithium rich geothermal waters circulate naturally through its underlying rock formations.
Planning permission has been granted for a commercial lithium production facility at this site. The facility, which will include a demonstration plant phase, will enable Cornish Lithium to implement multiple phases of testing and enhancements to confirm the site’s potential for the commercial production of lithium, with a long-term aim of achieving full commercial production.
Phase 1 of the project, which is supported by the UK government, began in January 2026 and includes the construction and operation of the geothermal lithium production facility, along with drilling two new 2,000 metre boreholes to establish the lithium resources potential of underground geothermal waters.
Halliburton’s role
Under the contract, Halliburton will provide an integrated execution approach, encompassing subsurface modelling and well engineering, together with equipment and services for the drilling and testing of the two appraisal wells. This work will help to estimate the amount of lithium contained within the geothermal system of the Cornubian Batholith – the large body of granite formed around 280 million years ago that lies beneath much of Cornwall and Devon.
These commercial-scale wells will allow Cornish Lithium to carry out extended testing during a defined timescale to validate sustainable production conditions, assess water reinjection rates and confirm the company’s preferred direct lithium extraction technology at demonstration scale. In addition, these test works will allow the company to explore the potential to harness geothermal heat for local homes and businesses.
Data gathered from the wells will inform the project’s Final Investment Decision and support the company’s wider ambition to develop a network of modular geothermal lithium production hubs across Cornwall. Together, these sites could deliver a scalable, low carbon and secure domestic supply of lithium for the UK.
Martin Geissler, VP general manager for Lithium in Geothermal Waters at Cornish Lithium, said,“We are delighted to appoint Halliburton as our technical collaborator for integrated service delivery on the well services and testing scope of our Cross Lanes Geothermal Lithium Project.
“Halliburton brings deep industry expertise and knowledge and will support the drilling and testing phases of our project, from well design to construction. Their team was highly proactive throughout the tender process, demonstrating a clear understanding of our requirements and a strong commitment to supporting the project’s objectives. We look forward to working with Halliburton and other collaborators as we continue to advance the project, support Cornwall’s proud mining heritage, and create high-quality jobs and long-term economic growth for the region.”
Jean-Marc Lopez, senior vice president, Europe, Eurasia, and Sub-Saharan Africa region, Halliburton, added, “With more than 70 years of geothermal development experience and over a century of well delivery expertise, I expect our teams will execute the drilling programme safely and efficiently to support Cornish Lithium’s technical and operational objectives.”
- Region: Europe
- Topics: Geothermal
- Date: 25th August 2026
Vattenfall has published an operational strategy update detailing its push into deep geothermal wells.
Its vision targets the expansion of collective district heating networks to rapidly swap out fossil gas assets ahead of strict 2030 emission caps mandated by the new Dutch Heat Act.
“Geothermal heat and energy is a somewhat untapped source in many parts of the world,” the company, one of Europe’s largest producers and retailers of electricity and heat, noted in a 25th August statement. “For the Netherlands, drilling for, and using, heat from the earth’s subsurface could both relieve the grid and lessen the dependency on imported sources.”
The Netherlands is currently ramping up the development of geothermal energy, it added, with the new Heat Act opening up opportunities for more and larger collective district heating networks, which need fossil-free energy sources.
At the moment around 150 new heat projects are in development round the country, according to Vattenfall.
Geothermal heat – where wells are drilled two to three kilometres into the ground and heat from the Earth’s interior is used for heating production – plays an important role in that development, it added.
“From 2030 onwards, we need to meet the conditions for maximum CO2 emissions set out by the Heat Act,” said Ivo Vos, Project Developer at Vattenfall. “That means that in some heat networks, where we have many fossil-based sources, we need to replace those with sustainable sources. And we need to do it very fast.”
At present, only 11.2% of homes in the Netherlands are heated by something other than gas — geothermal heat, together with sources such as waste heat from data centres, is expected to help increase that figure in the coming years, he added.
Performs extremely well
Vattenfall is currently running four geothermal projects in the Netherlands, in several cases in collaboration with the state-owned energy company EBN, which has been involved in 12 different geothermal projects from 2019.
EBN also runs the so-called SCAN project, in which it investigates and analyses the subsurface to make it easier for companies that later drill the wells.
The results of SCAN are accessible to all geothermal projects in the Netherlands, including where Vattenfall is work in Amsterdam and Almere.
“In terms of the carbon emitted per amount of heat delivered, geothermal performs extremely well,” said Michiel Houwing, Director of Heat Transition at EBN.
“The same is true for the levelised cost of heat that can be provided. It is still a heavily subsidised technology, but nevertheless, with the subsidy, an acceptable tariff can be offered to the end consumer.”
Providing for heat networks
The Netherlands has “very favourable conditions” for geothermal heat, the Vattenfall statement noted.
The sandstones in the subsurface are more porous than the bedrock found in, for example, northern Europe, making it more economically viable to produce hot water from drilled wells, which are often several kilometres deep.
Somewhat paradoxically, the Netherlands’ history of greater dependence on fossil fuels may actually work to its advantage, it added.
“To find the right geothermal locations, we have to understand what the subsurface looks like. Thanks to the Netherlands’ history of oil and gas production, we generally have a good understanding of the subsurface. In and around former oil and gas areas, where seismic data has already been collected, we can make use of that existing data,” said Vos.
Many of those areas have seismically been outside the urban areas where the geothermal heat sources are most needed to provide for the heat networks.
The Scan project was created in part to fill any blind spots in the subsurface knowledge.
Energy independence
For the Netherlands, geothermal heat could provide a double benefit, according to Vattenfall.It would make the country less dependent on predominantly foreign sourced gas for heating, while geothermal heat, which has a naturally high temperature from the outset, requires less additional energy from heat pumps.
For a country with an electricity grid that is under almost constant strain, geothermal heat could therefore offer an important advantage.
“District heating in general, and geothermal heat in particular, allow us to postpone investments in the electricity grid. If everyone in the Netherlands installs and uses heat pumps, it will place enormous pressure on a system that is already under strain. Although heat pumps will sometimes be needed in geothermal heating systems, their impact on the grid will be smaller,” said Houwing.
There is also, Houwing added, an aspect of energy independence.
“Geothermal is a source that makes you less dependent on imports of other energy sources. Geothermal is extremely local, and that makes us less vulnerable. I think that is very important for the country as a whole, and of course also for the energy system. It makes the system more robust.”
- Region: Europe
- Topics: Geothermal
- Date: 24th August 2026
Vulcan Energy Resources is making headway on its Project Lionheart, detailing construction updates for its €2.2bn phase one work in an August 2026 corporate presentation.
The company, which is listed in Germany and Australia, reported that bulk earthworks and high-voltage power line relocations at the geothermal and lithium extraction site at the German-French border remain on schedule for completion by Q3 2026.
It announced at the end of 2025 that it had commenced execution of phase one at the project site, which is located along the Rhine, between the cities of Ludwigshafen, Mannheim and Strasbourg.
The first phase is targeting output of some 24ktpa lithium chemicals, 275 GWh of renewable power and 560 GWh of heat per annum over a 30-year period.
According to, Vulcan Energy, it is one of the only lithium projects globally with financial close and now in construction.
In its presentation, the company posted images of construction works at the Lionheart lithium extraction site and planned geothermal power plant site in Landau.
Construction work to date includes laying of the first foundation concrete layers for the Lionheart geothermal power plant in Landau, stockpiling inventory at a pipe fabrication yard in Germany, and early bulk earthworks at the Frankfurt lithium chemical plant site.
In 2027, the plan is to commence civil works at the lithium chemical plant, start construction of the geothermal power plant and secure delivery of first process equipment packages
at both the lithium chemical plant and the the extraction plant.
Upstream production and the first lithium chemical plant production is expected in 2028, with the project ramping up commercial output during 2029.
- Region: North America
- Topics: Geothermal
- Date: 20th August 2026
Sanborn has announced its subsidiary, EDCON-PRJ, has completed a high precision airborne magnetic survey supporting geothermal exploration in Nevada.
- Region: North America
- Topics: Geothermal
- Date: 20th August 2026
EIG Geothermal Catalyst Partners, L.P. (GCP) has completed its inaugural investment, partnering with geothermal firm, Power Planet, a further sign of more capital moving into the sector.
Power Planet is a geothermal development company advancing enhanced geothermal system (EGS) projects.
The investment will support continued development of Power Planet’s Star Peak EGS project and the company’s broader portfolio.
Star Peak, Power Planet’s lead development effort, is expected to benefit from existing geothermal infrastructure, available interconnection capacity and subsurface data from the Star Peak geothermal field.
Andrew Ellenbogen, President of EIG, said the institutional investor believes geothermal can play an “increasingly important role” in meeting growing electricity demand with firm, reliable and low-carbon power.
He said the fund seeks to support high-quality geothermal projects at key stages of their development.
GCP’s investments are expected to help sponsors address technical and commercial risks and to enable broader institutional participation in the geothermal sector, while seeking attractive, risk-adjusted returns consistent with EIG’s disciplined investment approach, he added.
“The fund’s inaugural investment is an important milestone and reflects the opportunity we see to support next-generation geothermal development in the United States,” said Ellenbogen.
“We believe Power Planet’s portfolio is well aligned with the fund’s mission of providing development capital to help advance geothermal projects through key technical and commercial milestones, and we look forward to supporting the company as it advances the Star Peak project and its broader portfolio.”
Keith Elliott, CEO of Power Planet, said the company is excited about its Star Peak project because it represents a “compelling path” to bringing new EGS power to the US grid.
“We expect to begin delivering EGS electrons in 2027/2028,” he noted.
He added that EIG’s partnership has been instrumental in accelerating the project and attracting additional capital.
“We are honoured that Power Planet was selected for the fund’s inaugural investment, which supports our next phase of growth. We look forward to building on this partnership as we seek to scale our ambitious development portfolio and accelerate the deployment of EGS across the United States.”
- Region: North America
- Topics: Geothermal
- Date: 19th August 2026
Sage Geosystems has announced the SMECI facility in South Texas has been placed in service, establishing an important proof point for Sage’s proprietary EGS approach to deliver scalable geothermal power.
- Region: North America
- Topics: Geothermal
- Date: 18th August 2026
The Utah Frontier Observatory for Research in Geothermal Energy (Utah FORGE) has begun an extended circulation test at a site 10 miles northeast of Milford in Utah.
- Date: 13th August 2026
Project InnerSpace and the Society of Petroleum Engineers (SPE) has announced a new partnership to institutionalise geothermal as a technical focus area across SPE’s core disciplines.
InnerSpace has provided support for the partnership with a US$100,000 grant to help build upon SPE’s identification of geothermal as a one of its five core ‘Grand Challenges’. The support is designed as catalytic seed funding, providing the activation energy for a set of repeatable initiatives that can sustain and grow over the coming years, with the aim of engaging the full technical weight of the oil and gas industry.
The initiative is structured around two workstreams: Journal of Petroleum Technology, a print publication with PE articles on the technical synergies between oil and gas and geothermal; and geothermal-focused activities led by SPE Technical Directors across six disciplines – Drilling, Completions, Data Science, HSES, Production and Facilities, and Reservoir Engineering.
The grant extends a growing collaboration between SPE and InnerSpace, who are working together to develop the Geothermal Resources Management System (GRMS), a standardised resource and reserves classification framework for geothermal modelled on SPE’s Petroleum Resources Management System (PRMS).
Jamie Beard, Founder and Executive Director or Project InnerSpace, said, “The oil and gas industry, with its highly skilled workforce and technological advancements that rival those in space exploration, is poised to lead the way in developing this abundant and undervalued resource beneath us. We are proud to partner with SPE to tackle remaining challenges to industry-wide engagement.”
Chief Executive Officer at SPE, Simon Seaton, commented, “SPE’s mission is to connect technical professionals to advance the safe, responsible, and sustainable development of oil and gas and related energy resources. We are grateful for Project InnerSpace’s support and partnership in helping create new opportunities for our members to apply their expertise, collaborate across disciplines, and accelerate the growth of geothermal.”
- Region: Europe
- Topics: Geothermal
- Date: 13th August 2026
UK-listed Cornish Lithium has secured grant funding worth £7.2mn to advance its Cross Lanes Geothermal Lithium Project.
The cash — obtained via the UK government’s DRIVE35 programme — will part-fund a £14.5mn programme of drilling and testing work to assess the technical and economic viability of commercial production.
Jamie Airnes, CEO of Cornish Lithium, said the award is recognition that Cornwall is at the heart of the UK's clean energy ambitions.
“Our projects have the potential to meet nearly 40% of the government's domestic lithium production target – delivering a scalable, low-carbon and secure supply of lithium for the UK, right here in Cornwall.”
Lithium is a key component of lithium-ion batteries, which power consumer electronics, electric vehicles and large-scale energy storage systems, as well as a broad range of advanced manufacturing applications.
The company says its projects align with UK government priorities, which identify lithium as essential to the energy transition and set a domestic production target of 50,000 tonnes per year by 2035.
Successful exploration drilling and testing in 2023 by the company established the presence of lithium-enriched geothermal waters circulating naturally through underlying rock formations at the Cross Lanes site, near Chacewater.
In 2025, it secured planning consent for the development of the site including further phases of testing and evaluation.
The UK government’s grant — to be matched equally by Cornish Lithium — will enable the company to drill two 2,000-metre production wells and operate a Direct Lithium Extraction (DLE) demonstration plant at Cross Lanes as well as drill an appraisal well at the adjacent Baldhu site to confirm the existence of additional lithium resources.
“This DRIVE35 funding will allow Cornish Lithium to carry out extended testing over a defined timescale to validate sustainable production conditions and assess water reinjection rates,” said Airnes.
Once testing is complete, a modular demonstration plant will be installed to evaluate the preferred DLE technology at scale and explore the potential to harness geothermal heat for local homes and businesses.
“Data gathered from the wells will inform the project’s final investment decision and support the company’s wider ambition to develop a network of modular geothermal lithium production facilities across Cornwall.”
The UK’s DRIVE35 programme is delivered by the Department for Business, Innovation, Science and Trade (BIST) in partnership with the Advanced Propulsion Centre UK (APC) and Innovate UK.
MP for Truro and Falmouth, Jayne Kirkham, called it an exciting time for Cornwall and its future role in supporting the nation’s energy transition.
“Our rich granite bedrock places our region at the heart of a cleaner, more resilient future and in creating hundreds of jobs, supporting local communities and strengthening our economy, this project presents a significant opportunity for Cornwall and the UK.”
- Region: North America
- Topics: Geothermal
- Date: 11th August 2026
Dominica’s Minister for Finance, Economic Development, Climate Resilience and Social Security Dr Irving McIntyre has said the Caribbean island “must fully explore its geothermal potential” after it commenced first production this year from a debut 10 MW power plant.
Ormat Technologies confirmed the start-up of Dominica’s geothermal power plant in its recent Q2 filings, but McIntyre noted in a budget speech on 4th August that the facility is now approaching full commercial operation after passing reliability testing.
During the first three months of commercial operation, he said the Independent Regulatory Commission will monitor geothermal performance and its effect on consumer electricity costs.
He also said this milestone shows the project is moving beyond “early commissioning difficulties,” without elaborating any further on what challenges were faced.
“As steady geothermal generation is integrated with the strengthened transmission system, it should reduce pressure on diesel generation and help limit generation-related outages,” he said.
“It will not eliminate every interruption, as distribution faults, maintenance and extreme weather will still matter, but it should make the electricity system more stable and resilient.”
Crucially, McIntyre was bullish about the project and its potential to propel other geothermal energy ventures.
“There are endless opportunities to be had from this resource including export of energy and conversion to other products.”
With this in mind, he noted, the government is “actively investigating” other sources of geothermal energy in the country, including in the north, “while actively preparing to expand its yield from the reservoirs in the Roseau Valley.”
Though geothermal will not cut energy bills overnight, he added, it will reduce exposure to imported fuel prices.
“Our investment in geothermal energy is, therefore, a strategic investment in energy security, economic resilience and Dominica’s ability to exercise greater control over its own development.”
- Region: North America
- Topics: Geothermal
- Date: 7th August 2026
A number of key geothermal projects across North America and the Caribbean helped Ormat Technologies post a strong operating performance in its Q2 results.
Announced on 5 August, the company saw 10.6% revenue growth and 20.8% gross profit growth compared to the same quarter in 2025.
In July 2026, it achieved commercial operation from its 10 MW Dominica geothermal power plant in the Caribbean, demonstrating continued execution of the company’s global development pipeline.
In June 2026, it completed the 5 MW upgrade at the Cove Fort geothermal facility in the USA, enhancing the performance and profitability of an asset it acquired in 2024.
The company reported that its energy storage business also thrived during the period with revenues in this area nearly tripling year over year.
“Our electricity segment built on its growth momentum during the quarter, driven by contributions from our Blue Mountain [Nevada] geothermal power plant acquired in June 2025, improved performance at our…Puna power plant [Hawaii], and lower curtailments in the USA compared to the prior-year period,” said Doron Blachar, Ormat’s CEO, who also referenced the company’s Olkaria project in Kenya.
Blachar also highlighted “significant progress” on Ormat’s Enhanced Geothermal System (EGS) strategy during the quarter.
“On the subsurface side, we advanced both the SLB and Sage Geosystems pilot projects toward field execution, with each partnership taking concrete steps toward commercial-scale validation,” he said.
At the Desert Peak project with SLB, it completed geophysical data acquisition, updated the subsurface model, advanced permitting and procurement of long-lead materials, and entered the final stages of vendor selection ahead of planned drilling in Q4 2026.
At the Sage Geosystems pilot, it selected a power plant in Nevada, advanced permitting activities, neared completion of procurement for drilling services and equipment and progressed engineering work to integrate the two-well EGS facility into the selected Ormat power plant.
“We are also actively working to expand our substantial geothermal land position and water rights to support future EGS development, in addition to applying for new interconnections, recognising that building a strong EGS pipeline will enable us to accelerate our project development,” said Blachar.
On the surface technology side, it also introduced its Ormega100 surface generation unit, to advance its ability to convert subsurface EGS resources into grid-scale power by connecting upstream development capabilities with downstream generation at an accelerated pace.
“Together with our growing pipeline of partnership opportunities, we anticipate that these initiatives position Ormat to accelerate the commercialisation of EGS technology and capture increasing demand for next-generation geothermal power.”