Latest News

• 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."

• Date: 4th August 2026

Project InnerSpace, a research organisation committed to the acceleration of geothermal energy globally, and the Society of Petroleum Engineers (SPE), the member organisation for oil and gas professionals, today announced a new partnership to bring subsurface oil and gas expertise and engineering rigour to the advancement of geothermal energy

InnerSpace provided support for the partnership with a $100,000 grant to calayse geothermal as a focus across SPE’s core technical disciplines, building on SPE's identification of geothermal as one of its five technical "Grand Challenges." It will support initiatives that can sustain and grow over the coming years within SPE, with the aim of leveraging the technical expertise of the oil and gas industry for the development of geothermal.

The initiative focuses on two key areas:

• A Journal of Petroleum Technology (JPT) geothermal technical supplement, a print publication featuring SPE articles on the technical and operational synergies between oil and gas expertise and geothermal, based on real field applications that show know-how already transferring between the two industries.
• Geothermal-focused technical activities across six core disciplines — Drilling, Completions, Data Science, Health, Safety, Environment and Sustainability (HSES), Production and Facilities, and Reservoir Engineering. They will include discipline-specific geothermal initiatives that engage professionals and student members and build cross-disciplinary ownership of geothermal inside SPE.

SPE and InnerSpace are also 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).

"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," said Jamie Beard, Founder and executive director of Project InnerSpace. "We are proud to partner with SPE to tackle remaining challenges to industry-wide engagement."

"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," said Simon Seaton, chief executive officer of SPE.
The partnership positions InnerSpace and SPE as leaders in connecting oil and gas expertise to the advancement of geothermal energy, giving operators concrete technical guidance grounded in disciplines they already know, and strengthening ties between industry, academia, and technology providers.

• Region: North America
• Topics: Geothermal
• Date: 29th July 2026

A new collaboration between Fulcrum Point Holdings and Rodatherm Energy Corporation is set to boost the development of next-generation geothermal energy projects in Utah.

• 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: North America
• Topics: Geothermal
• Date: 29th July 2026

North America’s geothermal sector is entering a major growth phase, driven by technology advances, new funding and fast-rising demand for reliable, low-carbon electricity, as well as to boost energy security.

According to recent reports from the US Department of Energy (DoE) and the National Laboratory of the Rockies (NLR), the United States currently has around 4 GW of installed geothermal capacity, primarily concentrated in California and other western states.

However, while it remains a relatively small contributor to the overall energy mix, next-generation technologies such as Enhanced Geothermal Systems (EGS), growing commercial investment and supportive policy measures are accelerating development and expanding the sector’s long-term potential.

New report reviews developments

Geothermal Transition Network has issued a new report entitled 2026 Geothermal Case Study Review: North America which:

• Examines the evolving policy and market landscape across the USA and Canada, highlighting the growing role of geothermal in supporting energy security, decarbonisation and grid resilience.

• Explores the rapid development of emerging technologies, including EGS, Advanced Geothermal Systems (AGS) and other innovative solutions that could expand the geographical reach and commercial viability of geothermal energy.

• Assesses the increasing participation of major technology companies, government agencies and institutional investors, with growing demand from data centres, military installations and corporate power purchasers helping to drive new projects.

• Discusses the financing landscape, including the emergence of large-scale project finance transactions and increasing lender confidence as geothermal moves towards becoming an established infrastructure asset class.

• Reviews the competitive landscape, profiling leading developers, technology providers, oilfield service companies and equipment suppliers supporting the industry's expansion across North America.

• Highlights Canada’s geothermal ambitions, examining the country's substantial resource potential alongside the policy, regulatory and investment challenges that must be addressed to accelerate commercial deployment.

• Identifies emerging opportunities beyond electricity generation, including hybrid renewable systems, critical mineral extraction from geothermal brines, flexible grid services and energy solutions for rapidly expanding AI-driven data centres.

The report concludes that geothermal energy is steadily transitioning from an emerging technology to a commercially scalable source of firm, always-on clean power.

While high drilling costs, resource uncertainty and permitting challenges remain significant barriers, continued technological innovation, supportive policy frameworks and expanding private investment are expected to strengthen the sector’s outlook.

If these structural challenges can be addressed, North America is well positioned to establish a robust geothermal industry capable of delivering secure, reliable and low-carbon energy for decades to come.

Download the report

The report can be downloaded here

• 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: North America
• Topics: Geothermal
• Date: 28th July 2026

IHI Power Services Corp, a leading power plant operator in the US, has been rebranded as Kyuden Energy Partners following its acquisition by Japan’s Kyuden Group.

Kyuden owns a diversified portfolio of generation, transmission and distribution assets, including nuclear, thermal, hydro, geothermal, wind, solar, battery storage and biomass.

“This is the beginning of an exciting and prolific new chapter,” said Tony Dabbene, CEO of Kyuden Energy Partners. “Kyuden International’s backing strengthens our organisation, broadens our reach and deepens the resources behind every project we take on.”

Kyuden itself is a wholly owned subsidiary of Kyushu Electric Power Company, one of Japan’s biggest electric utilities, and a cornerstone of the country’s energy infrastructure for more than 70 years.

The acquisition brings to Kyuden Energy Partners huge additional depth in terms of institutional knowledge and capital resources at a key time for the US energy market.

US electricity demand is projected to reach record highs in 2026, driven by an AI-fuelled surge in data centre construction forecasted to more than double grid power needs by 2027, according to Goldman Sachs Research.

Ageing infrastructure and accelerating renewable integration are also straining grid reliability, and per the Electric Power Research Institute (EPRI), data centres alone could consume up to 9% of total US electricity generation by 2030, up from just 4% in 2023.

Geothermal energy is seen as a potential solution to this growing need, among many other energy solutions.

A Kyuden Energy Partners statement said that its formation reflects growing international confidence in the US power sector with foreign direct investment into US utilities reaching US$16bn in 2024.

“For Kyuden International, this goes beyond capital deployment — it is a deliberate, long-term commitment to the American energy market, and the Kyuden Group's first dedicated investment in US operations and maintenance (O&M),” the statement read.

“It is a signal that the future of energy infrastructure will be shaped by partnerships that cross borders."

IPSC came into thenew alliance with one of the most versatile O&M platforms in the country, managing a diverse portfolio of natural gas, biomass, hydro, coal, battery energy storage systems (BESS), wind, solar facilities and more.

Capabilities run the gamut from O&M to asset management, regulatory compliance and technical support across every phase of power generation, from construction through decommissioning.

“The United States sits at the centre of the global energy transformation, and Kyuden Energy Partners gives Kyuden International a truly exceptional platform from which to grow and contribute,” said Takashi Mitsuyoshi, CEO of Kyuden International Corporation and Executive Officer of Kyushu Electric Power Company.

“We bring the operational precision and strategic discipline of the Kyuden Group to a team that has already proven itself as one of the most trusted power plant operators in America. This represents our first investment in an O&M business in the United States, and with it, we are committed to building a dynamic, long-standing partnership designed for the power generation demands of the future and to empowering Kyuden Energy Partners to reach its full potential."

• Region: North America
• Topics: Geothermal
• Date: 23rd July 2026

XGS Energy has appointed two new senior leaders to help deliver key geothermal infrastructure projects across the US.

• Region: North America
• Topics: Geothermal
• Date: 23rd July 2026

Legislation led by Colorado Democrats will take effect on August 12^th to make energy and utility costs more affordable for families by improving energy assistance programmes and boosting geothermal development.

• 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: North America
• Topics: Geothermal
• Date: 17th July 2026

Kaishan USA, a major producer of air compressors, has unveiled Terravanta Power Systems, its new geothermal power generation company, during a groundbreaking ceremony for a manufacturing site in Loxley, Alabama.