Ormat Wins $35M DOE Grant for Geothermal Projects in Nevada, Utah
The U.S. Department of Energy is awarding Ormat roughly $35 million to advance geothermal development at two western sites.
The U.S. Department of Energy has selected Ormat Technologies to receive approximately $35 million in federal funding aimed at accelerating geothermal energy development, the company announced. The grant will support work at two existing project sites in the western United States.
Funding is directed at development activities at Ormat's Dixie Valley project in Nevada and its Cove Fort project in Utah. The investment is intended to advance both enhanced geothermal systems, known as EGS, and conventional hydrothermal development — two distinct but complementary approaches to harnessing heat from beneath the earth's surface.
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EGS technology has drawn growing federal interest as a pathway to expanding geothermal power beyond the naturally occurring hydrothermal reservoirs that have historically limited the industry's geographic reach. By engineering underground reservoirs where natural conditions are insufficient, EGS could theoretically unlock geothermal energy across a far broader swath of the country.
The DOE funding underscores the Biden administration's continued push to diversify the domestic clean energy portfolio and reduce dependence on fossil fuels. Ormat, one of the largest geothermal operators in the United States, stands to use the capital to de-risk exploration and development phases that have traditionally deterred private investment.
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