Schlumberger New Energy and Thermal Energy Partners Create a Geothermal Project Development Company

Schlumberger New Energy, a new Schlumberger business, and Thermal Energy Partners (TEP) announced that they have entered into an agreement to create STEP Energy, a geothermal project development company.  STEP Energy will leverage its partners’ expertise to develop efficient and profitable geothermal power generation projects, providing an opportunity to support a reliable supply of clean energy.

STEP Energy will benefit from the partners’ project execution, drilling, subsurface evaluation and digital technology integration expertise, combined with systems engineering, modeling, data analytics and machine learning capabilities.  STEP Energy will create new avenues for growth of the geothermal industry, while also attracting investment from various financial institutions.

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 has additional opportunities to expand production in the Eastern Caribbean and in North and South America.