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Geothermal: 2025 in review
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Report summary
Geothermal momentum continued to build in 2025, marked by unprecedented financing and technical breakthroughs. Next-generation companies raised US$1 billion in private funding, while governments allocated US$2.5 billion in public support, with geothermal lithium extraction projects emerging as clear winners. Key industry players made significant strides in testing and advancing technologies in the field, demonstrating advances in drilling efficiency, stimulation techniques and superhot rock systems. These developments have set the stage for major commercial project deployments in 2026.
Table of contents
- 2025 in review – a global upstream series
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