Intelligence Feed event · Policy · 2026-09-25

    U.S. Department of Energy selects Ormat for up to $35M in EGS geothermal grants

    Question

    U.S. Department of Energy selects Ormat for up to $35M in EGS geothermal grants

    Direct answer

    The U.S. Department of Energy has awarded Ormat Technologies up to $35 million to accelerate next-generation geothermal energy production. The funding targets two primary Western US locations. Dixie Valley in Nevada will receive $25 million to deploy Enhanced Geothermal Systems (EGS) drilling and reservoir stimulation, while the Cove Fort project in Utah receives $9.7 million to expand hydrothermal capacity.

    Original publisher
    Market Ontology
    Evidence through
    2026-09-25
    Published
    2026-10-20
    Revision
    1 · 2026-10-20

    Cite as: Market Ontology, “U.S. Department of Energy selects Ormat for up to $35M in EGS geothermal grants”, revision 1, evidence through 2026-09-25. https://marketontology.com/market-events/2026-09-25/u-s-department-of-energy-selects-ormat-for-up-to-35m-in-egs-geothermal-grants-e1add3

    POLICY
    U.S. Department of Energy selects Ormat for up to $35M in EGS geothermal grants
    The U.S. Department of Energy has awarded Ormat Technologies up to $35 million to accelerate next-generation geothermal energy production. The funding targets two primary Western US locations. Dixie Valley in Nevada will receive $25 million to deploy Enhanced Geothermal Systems (EGS) drilling and reservoir stimulation, while the Cove Fort project in Utah receives $9.7 million to expand hydrothermal capacity.
    ORASLB
    Impact
    70
    SEP 25
    SIG
    90%
    ORASLB
    U.S. Department of Energy selects Ormat for up to $35M in EGS geothermal grants
    The U.S. Department of Energy has awarded Ormat Technologies up to $35 million to accelerate next-generation geothermal energy production. The funding targets two primary Western US locations. Dixie Valley in Nevada will receive $25 million to deploy Enhanced Geothermal Systems (EGS) drilling and reservoir stimulation, while the Cove Fort project in Utah receives $9.7 million to expand hydrothermal capacity.
    → Federal grant subsidies de-risk capital expenditures for advanced baseload geothermal generation, adding clean firm power capacity for Western US grids.
    Impact
    The U.S. Department of Energy has awarded Ormat Technologies up to $35 million to accelerate next-generation geothermal energy production. The funding targets two primary Western US locations. Dixie Valley in Nevada will receive $25 million to deploy Enhanced Geothermal Systems (EGS) drilling and reservoir stimulation, while the Cove Fort project in Utah receives $9.7 million to expand hydrothermal capacity.
    Affected
    ORASLB
    Transmission
    Federal grant subsidies de-risk capital expenditures for advanced baseload geothermal generation, adding clean firm power capacity for Western US grids.

    How this development reaches the affected companies

    AssetExposure and channelDirectionEvidence
    ORAdirect non-dilutive government capital funding project development capexUp1-3mOrmat Selected for Approximately $35 Million in U.S. Department of Energy Funding.
    SLBgeothermal drilling and subsurface reservoir engineering service demandUp1-3mSLB listed as sector technology partner in geothermal development.

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    What happened next

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