Geothermal - New Energy Events

CDB reaches landmark financial close on facility for Dominica’s 10 MW geothermal project
September 11, 2025
The Caribbean Development Bank (CDB) has reached financial close on a facility for Dominica’s 10 MW geothermal power project, led by the Geothermal Power Company of Dominica, a wholly-owned subsidiary of Ormat Technologies). The project combines US$34.8 million in concessional funding (US$25.4 million from the Green Climate Fund via an IDB-GCF programme, and US$9.4 million […]
Mexico grants Grupo Enal 30-year concession to develop geothermal energy in Guanajuato
September 11, 2025
The Mexican Ministry of Energy (SENER) has granted Grupo Enal a 30-year concession to harness geothermal resources in the Celaya area, Guanajuato. The project represents an US$80 million investment in drilling, infrastructure, and distribution to supply clean power to Mexico’s national grid. Source: ThinkGeoEnergy
OECS advances 30 MW geothermal project in St. Kitts and Nevis with five bids and US$37 million secured
August 28, 2025
The OECS Commission has received five bids from internationally recognized firms, including Iceland Drilling, Marriott Drilling, Ormat Technologies, and others, for the production drilling phase of the planned 30 MW geothermal power project in St. Kitts and Nevis. With US$37 million already secured from international lenders, drilling is expected to begin in early 2026 to […]
Mexico to invest US$51.5 million in drilling new geothermal wells in Baja California
June 26, 2025
Mexico’s Ministry of Energy (Sener) will drill four geothermal wells in Baja California and Baja California Sur, investing US$51.5 million through the Geothermal Financing and Risk Transfer Program to reduce exploration risk. The program is managed through a collaborative initiative led by the Inter-American Development Bank (IDB) in partnership with Sener, NAFIN, the Clean Technology […]
El Salvador advances 25 MW Chinameca geothermal project with World Bank-backed loan
June 13, 2025
El Salvador has secured a sovereign guarantee for a World Bank loan to finance a 25 MW geothermal power plant in Chinameca, led by state utility CEL. The project, located on the Chinameca Volcano in San Miguel, includes drilling wells, building a steam collection system, and connecting the plant to the national grid. Source: ThinkGeoEnergy
Ecuador moves forward with Tufiño-Chiles-Cerro Negro geothermal project to generate 138 MW of clean energy
May 15, 2025
Ecuador’s Ministry of Energy and Mines is advancing the Tufiño-Chiles-Cerro Negro Binational Geothermal Project, located on the northern border with Colombia, to diversify the country’s energy mix. A letter of intent was signed on April 10 to begin the project’s implementation, which will harness the geothermal potential in Carchi province and generate up to 138 […]
Grenada advances geothermal energy project
May 15, 2025
The Government of Grenada is advancing its Geothermal Energy Development Project, now entering the exploration drilling phase. The project aims to generate up to 15 MW of clean, renewable baseload power, reducing the country’s reliance on imported fossil fuels while enhancing grid reliability. Source: Now Grenada
Grenada secures US$12.6 million from UK to advance geothermal energy development
April 10, 2025
Grenada will receive approximately US$12.6 million from the UK Government, through a partnership with the Caribbean Development Bank (CDB) and the Foreign, Commonwealth & Development Office (FCDO), to support expanded geothermal exploration drilling near Mount Saint Catherine. Source: ThinkGeoEnergy
World Bank approves US$150 million to expand geothermal energy in El Salvador
April 10, 2025
The World Bank has approved a US$150 million investment to boost geothermal energy in El Salvador, funding the drilling of wells and the construction of a 25-MW geothermal power plant in Chinameca. Implemented by state-owned LAGEO, the project also includes social and environmental initiatives to support local communities, create green jobs, and promote the direct […]