financetom
Business
financetom
/
Business
/
US targets geothermal projects for emergency permitting
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US targets geothermal projects for emergency permitting
May 30, 2025 9:55 AM

WASHINGTON, May 30 (Reuters) - The U.S. Department of

the Interior said on Friday it was implementing emergency

permitting procedures to accelerate reviews of geothermal energy

projects as part of President Donald Trump's energy agenda.

The projects that will be fast-tracked include three in

Nevada led by Ormat ( ORA ), which received funding in 2020

during the first Trump administration for research and

development.

The announcement comes a month after the Interior

Department said it would slash approval times that typically

take months or years to at most 28 days for energy or mining

projects on federal lands that it deems urgent.

"Geothermal energy is a reliable energy source that can

power critical infrastructure for national security and help

advance energy independence," Interior Secretary Doug Burgum

said. "We're fast-tracking reliable energy projects while

strengthening national security and supporting American

workers."

The Trump administration declared an "energy emergency" in

Trump's first days in office, allowing him to use a series of

steps to fast-track or skip over lengthy environmental reviews

and permitting processes for oil and gas production as well as

mining.

His emergency orders did not apply to renewable energy like

solar power or wind but now applies to geothermal, a form of

renewable energy which harnesses heat generated within the earth

for heating, cooling and electricity generation.

It is a technology that has support from Energy Secretary

Chris Wright, who has previously invested in geothermal company

Fervo Energy.

Geothermal energy is regarded as a good alternative to

traditional power sources like gas and coal because, unlike

solar and wind that depend on the weather, it can run at all

hours of the day.

But land access, long permitting times and technical

challenges have limited its development. Geothermal accounts for

less than 1% of all U.S. electricity capacity, according to the

U.S. Energy Information Administration.

Last week, the U.S. Geological Survey produced a report

that said geothermal energy in the Great Basin of Nevada and

adjoining states could produce electricity equivalent to 10% of

the current U.S. power supply.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Elanco Animal Health Acquires Contract Manufacturing Facility in UK
Elanco Animal Health Acquires Contract Manufacturing Facility in UK
Nov 15, 2024
12:24 PM EST, 11/15/2024 (MT Newswires) -- Elanco Animal Health ( ELAN ) said Friday it acquired a contract manufacturing facility and related assets in Speke, UK, previously owned by TriRx Speke, which was undergoing an insolvency process. The company said it had a long-term supply agreement with TriRx for this facility and provided interim funding during the insolvency process...
Fastenal Insider Sold Shares Worth $1,970,393, According to a Recent SEC Filing
Fastenal Insider Sold Shares Worth $1,970,393, According to a Recent SEC Filing
Nov 15, 2024
12:22 PM EST, 11/15/2024 (MT Newswires) -- Charles S. Miller, Senior Executive Vice President, on November 13, 2024, sold 23,480 shares in Fastenal ( FAST ) for $1,970,393. Following the Form 4 filing with the SEC, Miller has control over a total of 13,151 shares of the company, with 13,151 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/815556/000141588924026927/xslF345X05/form4-11152024_051113.xml Price: 81.88, Change: -0.28, Percent...
Update: Market Chatter: Meta Platforms to Appeal Rulings Clearing School Lawsuits on Social Media Addiction
Update: Market Chatter: Meta Platforms to Appeal Rulings Clearing School Lawsuits on Social Media Addiction
Nov 15, 2024
12:24 PM EST, 11/15/2024 (MT Newswires) -- (Updates with Meta's comment in last two paragraphs.) Meta Platforms ( META ) plans to appeal court rulings that allowed schools in the US to proceed with lawsuits accusing social media applications of contributing to the youth mental-health crisis, Bloomberg News reported Friday. The company filed notices on Thursday to request that the...
FanDuel settles MLB union lawsuit over use of player likenesses
FanDuel settles MLB union lawsuit over use of player likenesses
Nov 15, 2024
Major League Baseball's players union settled a lawsuit that accused sports betting giant FanDuel of using the names and likenesses of hundreds of MLB players on its betting platform without permission. A FanDuel spokesperson said on Friday that the company and the union signed a confidential licensing agreement. The players said in a New York federal court filing that they...
Copyright 2023-2026 - www.financetom.com All Rights Reserved