Fervo Energy raises $28m to scale next gen geothermal tech
Tim Latimer, CEO of Fervo Energy at one of the company’s development sites (source: Fervo Energy) Technology startup Fervo Energy
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Finance
Significant fleet expansion for Cadeler
Cadeler intends to significantly expand the fleet with two new build X-class vessels. This will double Cadeler’s total fleet, reflecting
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$15m in DOE funding for two geothermal R&D projects
Hydrothermal resources showing/ conceptual elements of a high-temperature resource (source: DOE, GeoVision study) The U.S. Department of Energy has announced
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MoU between Azerbaijan and IFC
Azerbaijan’s Energy Ministry and International Finance Corporation, a member of the World Bank Group, have signed a memorandum of understanding
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Another major geothermal acquisition by Macquarie in the U.S.
Soda Lake geothermal power plant (source: Cyrq Energy) A subsidiary of Macquarie Infrastructure Partners has closed the financing for the
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GDC bags $5m grant for geothermal exploration at Paka, Kenya
Kifaru II rig of GDC on site at Paka, Baringo-Silali geothermal project, Kenya (source: GDC) Kenya’s Geothermal Development Company (GDC)
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Canadian gov’t invests $40m in Clarke Lake geothermal project
Announced this week, Canada’s Minister of Natural Resources, the Honourable Seamus O’Regan Jr., announced nearly C$40.5 million (around USD 32.3m)
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Successful closure of $323m refinancing of Coso geothermal power facility in Southern California
Coso geothermal plant, California (source: Coso Operating Co.) Coso Operating Company has successfully refinanced $323 million for the Coso geothermal
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Tulu Moye Geothermal wins $10m co-financing GRMF grant from African Union
Well completion, Tulu Moye, Ethiopia (source: TMGO) The African Union Commission and Tulu Moye Geothermal have signed an agreement for
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First geothermal project in Turkey funded under World-Bank funded risk-sharing mechanisms
3S Kale geothermal power plant, Aydin/ Turkey (source: 3S Kale) The first project to receive support under the World Bank
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Model approach for geothermal project financing drawn up for the Netherlands
In the Master Plan Geothermal Energy in the Netherlands, various ambitions have been formulated for scaling up geothermal energy in
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