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CTR to receive $30 million tax credit from California to support geothermal lithium project

ThinkGeoEnergy

The tax credits will support the critical development of the Hell’s Kitchen Lithium and Power Project in Imperial County. CTR was one of the eight innovative companies that received a total of $120 million in investment from the State of California. billion in private investment over the next five years.

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Geothermal draws great interest at CERAWeek in Houston, Texas

ThinkGeoEnergy

The annual CERAWeek, organized by S&P Global, is the world’s premier energy conference, featuring insights on energy policy and regulation, climate change, geopolitics, technical innovation, among others. Phase 2 is targeting an installed capacity of 88 to 125 GW, which would require $225 to $250 billion of investment.

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Research for ultradeep geothermal in Canada receives major funding

ThinkGeoEnergy

The funding massively upscales Canada’s research and development efforts in geothermal power and supports its national commitment to achieve net-zero emissions by 2050 to address the climate crisis. The program focuses on deep geothermal systems in hot, dry rock five to 10 kilometers below Earth’s surface. “I

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Zanskar raises $30 million to support AI-led geothermal exploration technology

ThinkGeoEnergy

Zanskar Geothermal & Minerals (Zanskar) has announced the closing of a $30 million funding round led by Obvious Ventures. This investment will go towards the scaling of Zanskar’s AI-led exploration technology to develop new geothermal resources.

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Interview – Building geothermal power generation capacity with ABB

ThinkGeoEnergy

Discussions and stories on geothermal power plants typically focus on the turbines, who is supplying them, and what technologies they use. To learn more about this aspect of power plant operations, we talked with Jonas Burström , Sales Manager for Motors and Generators at electrification and automation leader ABB.

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US DOE publishes report on Commercial Liftoff of Next-Generation Geothermal

ThinkGeoEnergy

The US Department of Energy (DOE) has released the “Pathways to Commercial Liftoff: Next-Generation Geothermal Power” report, highlighting the potential of next-generation geothermal power to transform the U.S. energy landscape. The full report can be accessed via this link.

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US DOE announces $44 million funding for EGS innovation projects

ThinkGeoEnergy

By investing in EGS technology development through FORGE and other initiatives, GTO is working to achieve the Enhanced Geothermal Shot goals of reducing the cost of EGS by 90% by 2035 and deploying geothermal nationwide to help meet the Biden-Harris Administration’s goal for a net-zero-carbon economy by 2050. Source: U.S.