Geothermal Report

Geothermal Report
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Summary

The Geothermal Report contains a global assessment of Geothermal energy developments and deployments. 2010 appeared to be a weak year for geothermal with few projects commissioned and only in existing markets. However, this is not indicative of the state of the sector as a whole. As more money was invested in geothermal last year than the previous year. Several projects are now in the advanced stages of development, e.g. in the US alone there is 722 MW of project in phase 3 and 4, and support for the sector is strong. Specifically, Japan and Indonesia are relaxing rules on developing geothermal projects on protected land, which should open up more sites for development. Over the next five years high growth markets for the sector are expected to continue to be the top six main markets, Kenya, Iceland, Mexico and South America. For the latter, developers have already been awarded concessions to explore new sites in Argentina, Colombia, Chile and Peru. In the middle of 2010 the Chilean government announced plans to invest up to USD 200 million in geothermal projects and will grant over 170 geothermal concessions over the next two years, which should result in the country installing its first generation plant in the mid-term. Kenya and Mexico and the other six major markets are likely to commission projects in the advanced stages of development.

Scope

Over the next five years high growth markets for the sector are expected to continue to be the top six main markets, Kenya, Iceland, Mexico and South America. For the latter, devel-opers have already been awarded concessions to explore new sites in Argentina, Colombia, Chile and Peru. In the middle of 2010 the Chilean government announced plans to invest up to USD 200 million in geothermal projects and will grant over 170 geothermal concessions over the next two years, which should result in the country installing its first generation plant in the mid-term. Kenya and Mexico and the other six major markets are likely to commission projects in the advanced stages of development. As part of a strategy to raise revenue Iceland is considering exporting electricity to other countries. A feasibility study is being undertaken to build a sub-sea electric cable linking Iceland to Europe to sell electricity generated from geothermal projects to Britain, Norway, Holland and Germany. Another potential growth market is Japan. The country’s geothermal power plants were largely unaffected by the recent earthquake and tsunami unlike the Fukushima nuclear power plant. As both provide base load electricity and Japan has a good geothermal re-source. Australia is also developing geothermal projects, and has several EGS and Hot Sedimentary Aquifer (HSA) projects in the pipeline. Cost is still a major barrier to the development of projects and access to finance for the exploratory stages is still a challenge.

Date Published

September, 2011

Format / Pages

PDF / 424