Spotlight Session

Sustainable Geothermal Power Development

Organized by: Asian Development Bank (ADB)

Geothermal power is non-fluctuating and dispatchable renewable energy technology which can be clean base load and/or middle peak supply power plant in lieu of coal-fired and natural gas combined cycle powers. In 2023, around 15 gigawatt (GW) of geothermal power are online in the world. But it is only 0.8% of 2 terawatt (TW) of maximum potential geothermal capacity.

Geothermal power development entails extensive risks in exploring production wells which accounts for around 40% of total project cost. Such upfront risks and costs are major impediments for sustainable geothermal development. To utilize untapped potential of geothermal power, building an enabling framework to support the developer in reducing upfront investment risk is essential.