China expected to release new Geothermal Development Plan
Following an announcement from January 2015, the Chinese Government might release this month a new Geothermal Development Plan for the next 5 years.
Last year Sinopec, the Chinese oil giant expressed their interest in diversifying into renewables with geothermal being part of their plans and earlier this year, the Chinese government stated that it was working on a new geothermal development plan. Now more details are emerging.
According to Bloomberg, the government could release said geothermal plan this same month and provide a new market for the renewable energy to develop.
“The National Energy Administration and the Ministry of Land and Resources are currently reviewing the geothermal development plans from dozens of local governments. A detailed plan would map out China’s geothermal resources and outline how companies and governments could commercialize the energy source.” Bloomberg said.
The Chinese authorities are eager to reduce or even replace coal in the country and geothermal could be a good alternative, specially in its district heating variant.