Swiss Re and Climeworks ink $10m carbon capture and storage deal

Climeworks’ carbon removal solution filters carbon dioxide from ambient air using geothermal energy, with the captured CO2 sent for permanent storage in nearby rock layers

Geothermal energy firm issues £40m green bond

Baseload Capital will use the proceeds from the bond to invest in geothermal projects globally

Multi-million-dollar contract to upgrade geothermal units in the Philippines

ABB has won the deal for a major retrofit programme

Old coal mine in Glasgow to host geothermal research lab

It aims to contribute to an understanding of the potential for warm water in disused coal mines to be used for renewable heat

US hots up with $14.5m geothermal funding

The country currently has an installed geothermal capacity of more than 3.8GW

Mexico grants geothermal licenses to French, Icelandic firms

The Energy Ministry in Mexico has issued three exploration permits for geothermal energy. The permits allow French utility ENGIE and Icelandic firm Reykjavik Geothermal to spend three years exploring resources located in three zones – Sangangüey, Cerro Pinto and Las Derrumbadas. Geothermal energy is a sustainable source that uses heat from deep underground for heating, […]

EU approves joint venture for geothermal project

The European Commission has approved a joint venture that holds the rights for the development of a geothermal energy project in Germany. Austrian firms STRABAG and EVN have formed Geoenergie Bayern Projekt Garching, which is planning to develop the Bruck project in Bavaria. EVN is mainly active in exploration and production of oil and gas, […]

Californian geothermal heats up with two new projects

California aims to slash the costs associated with deploying and operating geothermal energy systems. Currently, 6% of the state’s total power comes from the clean energy source, a figure that could be much higher if the processes involved were made more cost effective. Scientists at the Department of Energy’s Berkeley Laboratory have announced the California Energy Commission will provide $2.7 million (£2.2m) […]

Indonesian geothermal project gets $109m boost

A geothermal energy generation project in western Indonesia has been given a financing package worth $109 million (£87m). The Muara Laboh project, located in West Sumatra, is expected to generate 80MW of electricity. It will be one of the first transactions to receive funding from the Asian Development Bank’s (ADB) newly-established Leading Asia’s Private Infrastructure […]

US awards $29m for geothermal energy

Funding worth $29 million (£21.9m) has been awarded for geothermal energy in the US. Two teams at Sandia National Laboratories and the University of Utah will use the cash for the third phase of the Frontier Observatory for Research in Geothermal Energy (FORGE). Enhanced geothermal systems (EGS) are the means by which resources are accessed […]