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The SM Group, Philippines’ largest mall operator, plans to expand in 2025, focusing on underserved areas and sustainable development. Their green investments include the Philippine Geothermal Production Company (PGPC), producing 300 megawatts of geothermal steam; a partnership with GUUN Co. Ltd. for waste-to-fuel; BDO Unibank’s PHP898-billion sustainable financing for 59 renewable energy projects; and improved logistics through 2GO.
pna.gov.ph
December 26, 2024
US-based Fervo Energy secured $255 million in funding ($135 million equity, $120 million debt) to accelerate its enhanced geothermal systems (EGS) power development. Its Cape Station project (up to 2 GW) will begin generating electricity in 2026.
fervoenergy.com
December 19, 2024
ETH Zurich researchers have developed new geothermal energy systems including Advanced Geothermal Systems (AGS) and CO2-Plume Geothermal (CPG) technology that combine carbon storage with energy generation. The BedrettoLab facility is testing safer methods for Enhanced Geothermal Systems using AI-powered monitoring to prevent earthquakes. A CPG Consortium has been established in 2023 with partners Shell, Petrobras, Holcim and Ad Terra Energy to evaluate locations for a pilot plant.
ETH Zurich
December 18, 2024
The U.S. Department of the Treasury and the IRS released final rules for the Section 48 Energy Credit (Investment Tax Credit), providing clarity for clean energy project developers to invest in clean power generation. These rules clarify issues related to offshore wind, geothermal heat pumps, biogas, the definition of \"energy project\", co-located energy storage, and hydrogen storage.
home.treasury.gov
December 04, 2024
Croatia hosted a round table on geothermal energy, highlighting its growing significance in the country's energy transition. The event featured a presentation by Dr. Sara Raos on a model for assessing geothermal projects using multi-criteria decision-making.
fer.unizg.hr
November 26, 2024
The COP29 conference in Baku features major climate policy updates and negotiations, including Switzerland's NDC update and discussions on climate finance, adaptation, and carbon markets. The U.S. Department of Energy releases the National Blueprint for a Clean and Competitive Industrial Sector, while Congressional delegations discuss bipartisan approaches to climate action and energy policy.
Environmental and Energy Study Institute
November 18, 2024
MIT Energy Initiative's Annual Research Conference discusses challenges and solutions for accelerating decarbonization amid global complexities. The conference brings together researchers, government officials, and business leaders to address various aspects of energy transition including technology adoption, infrastructure development, policy making, and workforce development, with particular focus on stakeholder engagement and community benefits.
MIT
November 15, 2024
The COP29 climate summit in Baku features key announcements on climate finance, with Multilateral Development Banks setting a $120 billion annual climate financing goal for low and middle-income countries by 2030. The Millennium Challenge Corporation has announced $905 million in clean energy grants for Sierra Leone, Belize, and Côte d'Ivoire, while discussions highlight concerns about women's representation and increasing fossil fuel emissions.
Environmental and Energy Study Institute
November 13, 2024
New Zealand government has allocated up to $60 million from the Regional Infrastructure Fund to explore supercritical geothermal technology, with an initial $5 million for detailed design and drilling costs in the Taupō Volcanic Zone, led by GNS Science and MBIE.
New Zealand Government
November 13, 2024
New Zealand government has allocated up to $60 million from the Regional Infrastructure Fund to explore supercritical geothermal technology, with an initial $5 million for detailed design and drilling costs in the Taupō Volcanic Zone, led by GNS Science and MBIE.
New Zealand Government
November 13, 2024
Germany has amended applicable laws to expedite approval for Geothermal plants, heat pumps and heat storage. (Press Release - https://www.bmwk.de/Redaktion/DE/Pressemitteilungen/2024/09/20240904-umsetzung-der-waermewende.html) A Federal funding program for efficient heating was announced in December 2023, providing grants of upto 70% for replacing fossil-fuel based building heating systems.
European Council for an Energy Efficient Economy (ECEEE)
September 06, 2024

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