Worldwide Geothermal Market Continues to Progress

Release date: September 22, 2013

The latest report of the Geothermal Energy Association (GEA) released on September 3, 2013 outlines significant international market growth of geothermal power worldwide. In 70 countries nearly 700 geothermal power projects are realized or under development.

In relation to current market development GEA Executive Director Karl Gawell states: "The number of geothermal projects continues to grow as more and more countries recognize the potential economic and environmental benefits that geothermal power can bring". The report’s author Ben Matek notes that meanwhile a large number of projects are under development that one or two years ago have been not more than a sketch. “This demonstrates how quickly the geothermal industry is growing internationally," said Ben Matek.

GEA forecasts that 12,000 MW of geothermal capacity is expected to operate on-line in the global geothermal market by the end of 2013. Worldwide, in 70 countries about 11,766 MW of new capacity is under development or construction. Another 27 GW (Gigawatts) of geothermal resource are under exploration that could potentially deliver geothermal power within the next decade. As another highlight, in 2013 in Australia and the United States first demonstration Enhanced Geothermal System (EGS) projects produced electricity feeding into the grid. Further geothermal projects are under construction or in the late development phase in counties such as Uganda, France, Tanzania, Chile, and Rwanda. Within the next few years they will operate their first geothermal power plants.

The GEA report focuses profiles from 21 countries on five continents. Highlights include the geothermal development of Kenya, Indonesia, Costa Rica and Japan. Bill Rickard, President of Geothermal Resource Group, expressively welcomes the data collection of GEA. “Geothermal Resource Group has been pleased to provide consulting services and training for the recent expansion of geothermal development in East Africa, ongoing exploration in the Caribbean and Latin America, and the resurgence of development activities in Indonesia,” he claims. The current GEA report “allows us to better focus our efforts in providing resource evaluation, drilling engineering and training services,” confirms Bill Rickard.

The International Report executive summary is available at: www.geo-energy.org. The background data will be publicly released in early October 2013.

>>read the full press release here