Google Signs 396 MW Geothermal PPA With Fervo Energy

Energy Minister Eknat Prompan has unveiled a major energy restructuring plan, under which the government will reserve 10,000 megawatts of rooftop solar generating capacity specifically for the public, set at roughly 5 kilowatts per household, to spread the right across households nationwide. Under the new approach, the state will buy back surplus power and apply it as a discount on the same billing cycle's electricity bill. A 5-kilowatt system can generate about 600 to 700 units per month, worth roughly 2,000 baht or more, and the state will provide a subsidy of 50,000 baht, with the income from the generated power used to pay it off. The equipment is expected to be fully paid off in about 7 to 10 years. On cutting permitting steps, coordination will be handled solely through the distribution utilities, with a target of about 1 week for inspection and acceptance in self-consumption installations, and no more than 1 month in cases of selling power back. For the new Power Development Plan, or PDP, three goals are set: cleanest, most stable, and fairest. It targets raising the share of clean energy from the current level of just over 20% to close to 50% within 10 years, and no less than 65% in the long term, while reducing reliance on spot-market LNG in favor of long-term contracts, and opening the door to future technologies including hydrogen, geothermal, solid oxide fuel cells, and small modular nuclear reactors, or SMRs. Meanwhile, the public electricity cost that has been embedded in the power tariff structure for 30 to 40 years amounts to a burden of about 18 billion baht per year. The government has removed this burden from the structure and has already implemented a measure capping the first 200 units of household electricity at 3 baht per unit.

Hexagon Energy and Weyerhaeuser Co. said on September 10 they have closed an agreement to develop geothermal projects on Weyerhaeuser timberlands in Washington and Oregon, a deal that could provide an estimated 3 GW of geothermal power generation capacity in the Pacific Northwest. Under the agreement, Hexagon Energy has leased geothermal rights on about 145,000 acres across the two states, part of Weyerhaeuser's holdings as one of the largest private owners of timberland in North America. Kendall Fountain, vice president of Energy and Natural Resources for Weyerhaeuser, said the company's ownership presents a unique platform to evaluate geothermal potential in the region while supporting growth of its Climate Solutions business. Matthew Hantzmon, CEO of Hexagon Energy, said the partnership aims to bring abundant, clean, baseload energy to the Pacific Northwest. The companies noted the collaboration comes amid rising demand for geothermal energy, driven in part by electricity needs from artificial intelligence and data centers. Hexagon Energy, headquartered in Charlottesville, Virginia, has developed and financed more than 3 GW of power generation capacity for U.S. electric utilities, representing more than $4.5 billion in investment, and its current pipeline includes more than 10 GW of power under active development.

Energy Absolute Public Company Limited (EA) has announced its growth plan for 2026-2029, focusing on expanding its comprehensive clean energy ecosystem. The company is preparing to begin mass production of electric buses in September 2026 to fulfill its contract with the Bangkok Mass Transit Authority (BMTA). Revenue from this project is expected to be recognized mostly in the second quarter of 2027. This year, the company is set to achieve COD for its waste-to-energy plant on Koh Larn, and in 2027, the Phuket waste-to-energy plant with a capacity of 8 megawatts is targeted for COD in the second quarter. Additionally, EA will start delivering 1,520 E-Buses to the BMTA in the second quarter. The Maha Sarakham and Khon Kaen wind power projects are targeted for COD in 2028 and 2029, respectively, to replace existing capacity that will gradually expire. Meanwhile, the company has shifted its biodiesel business to an OEM (original equipment manufacturer) model to reduce exposure to raw material price volatility, and is focusing on the Energy Storage System (ESS) market for its battery business. EA expects a boost from the EV business in the second half of the year, with revenue from new projects becoming significant from 2027 onwards.