On Monday, 27 October 2025, Ormat Technologies (NYSE: ORA) and global energy technology company SLB (NYSE: SLB) announced a partnership to fast‑track the development and commercialization of integrated geothermal assets, including enhanced geothermal systems (EGS). The agreement, announced from Reno, Nevada and Houston, Texas, aims to streamline project deployment from concept to power generation and to build a pilot EGS facility at an Ormat site.
The partnership will launch a joint demonstration project that will develop and scale new technologies and techniques needed for EGS, while optimizing integration with surface facilities to maximize production and sustainability. Ormat CEO Doron Blachar said the collaboration “will accelerate the path to rapid deployment of commercial‑scale EGS facilities,” and SLB’s Gavin Rennick added that the pilot will “de‑risk and broaden the commercial application of EGS.”
By combining Ormat’s proprietary binary‑cycle technology with SLB’s subsurface and geothermal expertise, the alliance seeks to unlock geothermal energy in regions that lack conventional resources. The U.S. Department of Energy estimates that next‑generation geothermal could provide up to 90 GW by 2050, and the partnership positions Ormat to capture a share of this emerging market.
The deal aligns with Ormat’s broader strategy to expand its pipeline and technology portfolio, potentially adding new revenue streams and enhancing its competitive moat in the renewable energy sector.
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