Geothermal Startup Files for IPO | Good Climate News
Enhanced geothermal startup Fervo Energy has filed for a hotly-anticipated IPO, heralds Canary Media. The Texas-based company specializes in using fracking techniques to unlock low-carbon, 24/7/365 geothermal electricity generation.
“Fervo is gearing up to mark an even bigger achievement: completing the first 100 MW of its 500-MW Cape Station project in Utah and delivering power to the grid in October.”
2. Pakistan Solar Capacity at Least 27 GW
Pakistan now has as much solar capacity as wealthier countries like France, the UK, and the Netherlands, reports PV Magazine. 50GW of panels have been imported from China through 2025, and at least 27 GW of that capacity - and probably more - has already been installed.
“…solar adoption in Pakistan is highest in the residential market but take up is also strong among C&I customers.”
3. Germany Brings Back EV Subsidies
Germany has revived subsidies for electric vehicles (EVs) to help supercharge sales, relays Reuters. Low-income and middle-class families will be eligible for discounts of up to $7,000.
“These measures are expected to boost EV registrations this year by 17% year-over-year to nearly one million…”
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4. Australia Battery Program a Roaring Success
Australia is on pace to install battery storage systems in two million homes by 2030, explains ESS News. A new government program to encourage homes with solar to add storage has installed 4.7GWh of battery capacity in just six months.
“The Cheaper Home Battery scheme is available to all homes, businesses and community facilities and provides a 30% discount on a home battery when installed alongside new or existing rooftop solar.”
5. Virginia Rejoins Greenhouse Gas Initiative
The US state of Virginia has rejoined the Regional Greenhouse Gas Initiative (RGGI), notes Inside Climate News. The move comes as the newly elected Democratic governor seeks to realign the state with her party’s green energy and net-zero goals.
“RGGI is currently a 10-state compact that requires electricity producers to purchase allowances for the carbon emissions they produce above RGGI-established limits. The amount of those allowances will decrease to 0 by 2050…”
📈 Chart of the Week
Wind and solar together now generate more electricity in the European Union (EU) than fossil fuels, according to an analysis by energy think-tank Ember. In 2025, the bloc generated 16.9% from wind and 13.2% from solar, combining for a total of 31.1%. In contrast, it generated 29% from fossil fuels, mostly gas and coal.
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