Project Ceres

Mazama Energy · Newberry Volcano, Deschutes County, OR · Oregon

Superhot enhanced geothermal on the flank of Newberry Volcano (wells to about 10,000 ft and 629°F): up to 15 MW from Ceres in 2027, then Project Athena, with goals of 50 MW by 2029 and 200 MW by 2030.

Geothermal · Next-generation geothermal SEE CONNECTIONS →

ANNOUNCED
DEVELOPMENT
PERMITTED
FINANCED
CONSTRUCTION
OPERATING

Power

15 MW

Geothermal · Demonstration

Storage

—

energy capacity

Online

2027

approximate target

Capital committed

—

closed or awarded

Capital pending

—

conditional or under review

How it works

Enhanced (EGS)

Where rock is hot but dry, drill down and then sideways, crack the rock open between two wells, pump water down one and bring it up hot through the other. Borrowed from oil-and-gas drilling, so it can work in many more places.

OPEN IN 3D →

Others on this approach

Capital stack

1 SOURCES

Company equity · Mazama Energy funding round (venture and oil-company investors)COMPANY-WIDE · NOT IN PROJECT TOTALMore than $135M raisedCLOSED · 2026-09-22 · opb.org$135M

Milestones

Sep 22, 2026Mazama raises more than $135M to build Ceres
2027 · APPROXIMATE TARGETFirst power, up to 15 MW (target)

Grid, permits and build

Grid connection, permits, contractors and cost not researched yet for this project.

Who buys and who finances

Not yet named

LOADING…

Project Ceres

Enhanced (EGS)

Capital stack

Milestones

Grid, permits and build

Who buys and who finances

Project Ceres

Enhanced (EGS)

Capital stack

Milestones

Grid, permits and build

Who buys and who finances

Dependencies

Related

Sources