EIG Targets Geothermal Growth With New Catalyst Fund

EIG has announced the initial closing of EIG Geothermal Catalyst Partners, a new strategy focused on providing mid-stage development capital to accelerate geothermal projects through key technical and commercial milestones.

The fund is designed to address a critical financing gap in the geothermal sector, where projects often require capital to move from early-stage development to construction readiness. By supporting this phase, EIG aims to de-risk assets and position them for broader institutional investment over time.

EIG, which invests across the energy value chain, sees geothermal as an increasingly important component of the global energy mix, particularly as demand for reliable, low-carbon baseload power continues to rise alongside electrification and AI-driven consumption.

“We believe geothermal represents a compelling opportunity that has the potential to deliver scalable, reliable and low-carbon power using many of the same subsurface capabilities that have underpinned decades of energy development,” said Andrew Ellenbogen, President of EIG.

The strategy leverages EIG’s experience in subsurface-intensive assets, including oil and gas and infrastructure, to identify and advance geothermal opportunities that can deliver consistent power output with limited intermittency compared to other renewable sources.

EIG managed $25.4 billion in assets as of December 31, 2025.