In this piece, we will take a look at the five biggest geothermal companies in the world. For more companies, head on over to 10 Biggest Geothermal Companies in the World.
5. Toshiba Corporation (OTCMKTS:TOSBF)
Market Capitalization as of November 14, 2022: $14.9 billion
Toshiba Corporation (OTCMKTS:TOSBF) is a specialty industrial equipment provider that is one of the oldest companies in the world as it was set up in 1875. The firm provides equipment for systems that make their way on subways, airports, elevators, and more. It also has a consumer electronics division. Toshiba Corporation (OTCMKTS:TOSBF) is headquartered in Tokyo, Japan.
Toshiba Corporation (OTCMKTS:TOSBF) operates in the geothermal market through its energy systems division. This division provides geothermal turbines such as those with single, double, triple, and four flow configurations. These have steam pressures ranging from 30 to 430 pounds per square inch. Toshiba Corporation (OTCMKTS:TOSBF)’s turbines include the GXP-2B, GXP-2C, GXP-5C, and GXP-X turbines. Out of these, the GXP-X is the largest turbine which is able to handle up to 177 degree Celsius in temperature and a 160 t/h flow.
4. Mitsubishi Corporation (OTCMKTS:MSBHF)
Market Capitalization as of November 14, 2022: $44.3 billion
Mitsubishi Corporation (OTCMKTS:MSBHF) is a Japanese industrial company. The firm provides different products such as providing industrial plants, agriculture equipment, machine tools, elevators, and escalators. It has other businesses as well and is headquartered in Tokyo, Japan.
Mitsubishi Corporation (OTCMKTS:MSBHF) is a pioneer in the geothermal space, as it was the first to introduce a two phase flow transportation system combined with a double flash cycle. This enables multiple kinds of matter, such as gas and liquid, to work together. The firm also provides engineering, procurement, and construction (EPC) services for geothermal plants, and it is the largest global supplier of geothermal power units.
3. Chevron Corporation (NYSE:CVX)
Market Capitalization as of November 14, 2022: $360 billion
Chevron Corporation (NYSE:CVX) is an American energy company and one of the largest oil companies in the world. The firm also has an active presence in the geothermal sector and it has entered into several agreements in the area. The company is headquartered in San Ramon, California.
Chevron Corporation (NYSE:CVX)’s latest foray into the geothermal sector came in September 2022, when it entered into a partnership with Mitsui Oil Exploration Corporation in Japan. The agreement will see the pair evaluate Japan’s geothermal exploration sites and study Advanced Closed Loop (ACL) technologies. The firm also invested in a Swedish private investment firm in 2021 to research low temperature geothermal assets. Additionally, Chevron Corporation (NYSE:CVX) has also invested in the Canadian firm Eavor-Loop, which produces geothermal energy.
Chevron Corporation (NYSE:CVX)’s largest investor is Warren Buffett’s Berkshire Hathaway which owns 165 million shares that are worth $23 billion.
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2. Enel SpA (BIT:ENEL.MI)
Market Capitalization as of November 14, 2022: $54.52 billion (1EUR = 1.04USD)
Enel SpA (BIT:ENEL.MI) is an Italian energy company. The firm generates electricity and sells other energy products such as natural gas and liquefied natural gas (LNG). It is headquartered in Rome, Italy.
Enel SpA (BIT:ENEL.MI)’s geothermal energy portfolio stands at 920 megawatts as of June 2022. The firm generates this through its facilities in Europe and North America. Its plants in Europe generate 770 megawatts while those in America generate 140 megawatts. The bulk of Enel SpA (BIT:ENEL.MI) geothermal plants are located in Tuscany, Italy, with more than 30 facilities generating 750+ megawatts of electricity. It also has five geothermal power plants in the U.S., in states such as Nevada and Utah.
1. Berkshire Hathaway Inc. (NYSE:BRK-A)
Market Capitalization as of November 14, 2022: $681 billion
Berkshire Hathaway Inc. (NYSE:BRK-A) is one of the largest investment holding companies in the world. It owns stakes in automotive, technology, energy, banking, retail, and other highly lucrative businesses. The firm is based in Omaha, Nebraska.
Berkshire Hathaway Inc. (NYSE:BRK-A) operates in the geothermal industry through its Berkshire Hathaway Energy division. This division has ten geothermal plants in California’s Imperial Valley. They are capable of generating 350 megawatts of electricity.
Berkshire Hathaway Inc. (NYSE:BRK-A)’s largest investor is Michael Larson’s Bill & Melinda Gates Foundation Trust which owns 29 million shares that are worth $7.9 billion.
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Disclosure: None. You can also take a look at 15 Biggest IT Companies in the World and 10 Best Safe Dividend Stocks for Retirement Portfolios.
