FOR IMMEDIATE RELEASE
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CONTACT: Shawna Seldon, email@example.com
Industry Paper Examines Emerging Economies in Fast Growing Geothermal Nations
Washington, DC (October 23, 2014)
– According to a report recently released by the Geothermal Energy Association (GEA), titled “The Status of Geothermal Power in Emerging Economies,” globally approximately 12.1 GW of geothermal power was under development at approximately 730 sites. Emerging economies in East Africa, Central America, the Caribbean and the South Pacific are some of the fastest growing geothermal nations worldwide. Motivated by the threat of climate change, and the desire for a domestic source of energy that can provide jobs and economic security around 80 nations are exploring for geothermal resources.
Specifically, Emerging Economies are recognizing geothermal energy as an emission-free and cost-effective option to produce electricity. Geothermal plants can ramp up or down quickly, allowing them to adjust to the needs of the power system acting as a flexible power source in addition to generating electricity as a baseload. As a result, geothermal plants can replace natural gas, coal, or oil generation in economies starving for power or help with the integration of other renewables by stabilizing their intermittency.
The paper glimpses at geothermal development taking place in emerging economies. Specifically a selection of countries that falls adjacent to the Ring of Fire or East African Rift capable of generating geothermal power. In total, this market equates to a nearly $9 billion industry by 2019. In Central America, as of August 2013, $230 million has been committed to renewable energy projects. In the Caribbean, where most countries rely heavily on oil for their energy needs, geothermal energy has been recommended as a viable solution with 850 MW potential in the area. The South Asian Pacific leads the world in developing geothermal capacity. Within the next decade the South Pacific will likely not only be the world’s leading region on geothermal power but also have nearly doubled their operating capacity.
The report is available from the Geothermal Energy Association website at http://geo-energy.org/reports.aspx
. GEA will be releasing a full update on developing geothermal projects as part of its State of the Geothermal Industry Briefing
in Washington, DC on February 24, 2015. For more information or to schedule an interview with a Geothermal Energy Association representative, please contact Kathy Kent Schott at 202.454.5263 or firstname.lastname@example.org
About the Geothermal Energy Association:
The Geothermal Energy Association (GEA) is a trade association comprised of U.S. companies that support the expanded use of geothermal energy and are developing geothermal resources worldwide for electrical power generation and direct-heat uses. GEA advocates for public policies that will promote the development and utilization of geothermal resources, provides a forum for the industry to discuss issues and problems, encourages research and development to improve geothermal technologies, presents industry views to governmental organizations, provides assistance for the export of geothermal goods and services, compiles statistical data about the geothermal industry, and conducts education and outreach projects. For more information, please visit www.geo-energy.org
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