Asian Pacific region sees continued geothermal upswing
Wayang Windu geothermal power complex, Indonesia (source: flickr/ Andri Suprihadi, creative commons)
Alexander Richter
5 Sep 2012
Increasingly positive regulatory environment in the Asia Pacific region will propel geothermal growth, but need to be consistent to attract and secure long-term investment initiatives.
The Asian Pacific region continues to build its “position as a global leader in geothermal power generation”, so a recent market update by international law firm Baker & McKenzie.
Describing the key factors for geothermal growth worldwide, as economic progress particularly in developing markets, energy security and rising environmental awareness among others, the report describes the Asia Pacific region as particularly blessed with vast and untapped geothermal resources.
The geothermal resources in those countries of the region – and elsewhere for that matter – are increasingly recognized for their economic value.
“The geothermal potential of the region is extensive. Asia Pacific is home to three of the top 10 geothermal locations in the world – the Philippines, Indonesia and Japan – with a combined installed capacity of 3,637 MW. Reports show that Indonesia alone has up to 27,510 MW of potential hydrothermal geothermal resources.
The law firm sees increasingly positive regulatory environments driven by demand for energy and economic security that will “propel geothermal growth in the region”. At the same time “inconsistent regulatory policies can create uncertainty for long-term investment initiatives”.
Source: Baker & McKenzie, Renewable Energy and Clean Technology Newsletter, Geothermal Energy Edition
