XGS Energy, a pioneering force in geothermal energy technology, announced it has successfully raised an additional $9.7 million in funding. The investment round, spearheaded by Constellation Technology Ventures alongside BlueScopeX, Thin Line Capital, and several insider investors, is set to fast-track the North American deployment of XGS’ proprietary Thermal Reach Enhancement (TRE) technology on a […]
Enel S.p.A., through Enel Green Power North America Inc. (EGPNA), has finalized a significant agreement with ORMAT Technologies Inc. for the sale of a renewable asset portfolio in the United States. The total consideration for the transaction is $271 million, equivalent to approximately 250 million euros, with customary transactional adjustments. The assets include EGPNA’s complete […]
Ormat Technologies, Inc. (NYSE: ORA), a key player in the renewable energy sector, is set to diversify its portfolio with a noteworthy acquisition. The company has disclosed an agreement with Enel Green Power North America (EGPNA) to procure a renewable energy portfolio of 150 MW. The deal, valued at $271 million, incorporates two operational geothermal […]
Stellantis N.V. and Vulcan Energy Resources have signed a binding term sheet for the first phase of a multiphase project that aims to develop new geothermal projects at the Dutch automotive company’s Mulhouse industrial site in France. The Mulhouse industrial site is home to several automobile models, including the DS 7, Peugeot 308 and 308 […]
UAE-based renewable energy company Masdar has made an undisclosed investment in Indonesia-based Pertamina Geothermal Energy, to mark its foray into the geothermal space. With the investment, Masdar anticipates to increase its footprint in the Asia-Pacific region and gain access to the world’s second largest geothermal market. Pertamina Geothermal Energy, with a portfolio capacity of more […]
Pertamina Power Indonesia, Keppel Infrastructure, and Chevron will explore the feasibility of developing green hydrogen and green ammonia projects in Indonesia by leveraging renewable energy situated in Sumatera. To this effect, the companies have signed a joint study agreement (JSA) at the Business 20 (B20) Investment Forum held parallelly with the B20 Summit in Bali. […]
Atlantica Sustainable Infrastructure has signed an agreement to acquire Coso Geothermal Power Holdings, the owner of 135MW geothermal power plants in California, for about $170 million. The seller of the geothermal power plants is a consortium of investors comprising Bardin Hill Investment Partners, Avenue Capital, Corre Partners Management, and Voya Financial. Geothermal Power Holdings owns […]
India’s state-owned Oil and Natural Gas Corporation (ONGC) has announced the first-ever geothermal field development project in India at Ladakh for producing power from the Puga and Chumathang geothermal fields. In this connection, the oil and gas major, through its subsidiary ONGC Energy Centre (OEC), has signed a Memorandum of Understanding (MoU) with the Union […]
Thermal Energy Partners (TEP) has joined forces with Schlumberger New Energy, a new Schlumberger business, to create a geothermal project development company called GeoFrame Energy. The new geothermal power developer will make use of its partners’ expertise to develop efficient and profitable geothermal power generation projects across the world to offer reliable, renewable energy with […]
The Asian Development Bank (ADB) has sanctioned a $300 million loan to Indonesian state-owned company Geo Dipa Energi (GDE) for expanding its geothermal power generation capacity by 110MW in Java Island through the construction and commissioning of two geothermal power plants. Additionally, the Asian Development Bank will manage a $35 million loan from the Clean […]