Rock solid: geothermal’s upward trajectory

Until recently, the need for high-temperature and high-permeability rocks meant the potential for geothermal energy to provide abundant, low-carbon 24/7 heat and power was limited to just a few sites globally. But with next-generation technology promising to open up the possibility of geothermal energy production almost anywhere, the sector is really hotting up.  

Our subsurface experts recently published the latest edition of WoodMac’s Geothermal Market Update, which provides comprehensive insight into project and policy developments in the sector. Fill out the form to download an article highlighting some key themes from the report, or read on for a spotlight on commercially focused developments in North America. 

US commercial activity leads the way 

The US is leading the way in the commercial development of next-generation geothermal technology, with several significant projects in the works. Mazama Energy is expected to start drilling two deep geothermal wells at its super-hot rock EGS demonstration site in Newberry, Oregon. Meanwhile, Zanskar Geothermal recently completed drilling at its Lightning Dock field in Wyoming, reaching a depth of 2,286 metres and achieving flows at a pressure of 50 gallons per minute and at 162°C.  

Newcomer 400C Energy recently acquired a well in Salt Cove, Utah where it plans to drill an EGS well pair. The project is targeting a depth of 2,500 metres, temperatures of 275°C and 100 kilogrammes per second in flow rate. Other sites in development include Fervo’s plan for up to 29 EGS wells at Cape Station in Utah, seven conventional development wells in Iron County, Utah, and exploration drilling at Warren Air Force Base in Wyoming. Not to be left out, Canada has a project for five production wells planned in Clarke Lake, British Columbia, developing conventional power generation capacity. 

Get more insight 

Fill out the form to download a complimentary PDF. This provides a full overview of key developments in the geothermal sector in Q1 2025, as well as a sneak peek at our levelized cost of energy (LCoE) assessment for next generation geothermal technology at one of the most high-profile projects.