U.S. oil exports surged to 5.2 million barrels per day, a record driven by Asian and European buyers replacing lost Hormuz supplies. While gasoline prices spiked domestically, European gas markets eased as Asian demand fell. Amid this energy turbulence, investors turned to geothermal, a baseload source the International Energy Agency says could hide hundreds of gigawatts underground.

Zanskar Geothermal secured a $40 million development‑capital facility, led by Boston‑based Spring Lane Capital and Just Climate, the investment arm of Al Gore’s Generation Investment Management. The non‑recourse loan covers drilling and subsurface work that traditional lenders avoid, bridging projects to bankable construction financing. If Zanskar expands its portfolio, the facility could swell to $100 million, offering a template for mid‑size private‑equity participation in the sector.

Nevis Prime Minister Mark Brantley secured $87.7 million from the Green Climate Fund, Inter‑American Development Bank and Saudi Fund to de‑risk its inaugural geothermal plant, plus a $17 million contingency grant from the Caribbean Development Bank. The grant converts to a low‑interest loan only if drilling succeeds, shielding taxpayers from debt if the reservoir is barren. The structure demonstrates how blended public‑private capital can fund clean‑energy projects.