Schlumberger New Energy and Thermal Energy Partners (TEP) have teamed up to create STEP Energy, a geothermal project development company.
Schlumberger New Energy and Thermal Energy Partners (TEP) have teamed up to create STEP Energy, a geothermal project development company.
‘Through GeothermEx, a Schlumberger company, we have acquired extensive knowledge of geothermal resource assessment and project design implementation,’ said Ashok Belani, executive vice president, Schlumberger New Energy. ‘By combining our geothermal, subsurface and drilling expertise with TEP’s experience in project development and risk mitigation, we will develop de-risked and streamlined geothermal projects on a global scale.’
STEP Energy will benefit from the partners’ project execution, drilling, subsurface evaluation and digital technology integration expertise, combined with systems engineering, modelling, data analytics and machine learning capabilities.
The new company’s first project is the 10-MW Nevis Geothermal Power Project on the Caribbean island of Nevis, which will enable the island to transition to 100% zero-emission renewable energy for its power supply. STEP Energy said that it has already identified opportunities to expand production in the eastern Caribbean and in North and South America.
