Ormat Technologies (ORA) and SLB (SLB) announced an agreement to fast-track the development and commercialization of integrated geothermal assets, including enhanced geothermal systems, EGS. EGS is the next generation of geothermal technology, meant to unlock geothermal energy in regions beyond where conventional geothermal resources exist. Together, Ormat and SLB intend to streamline project deployment, from concept to power generation. As part of this effort, they will develop, pilot and scale EGS solutions to enable wide-scale EGS adoption. This collaboration will include the design and construction of an EGS pilot at an Ormat site.
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