Geothermal investment needs to see 10x increase to reach goals
Why some countries over-perform and others under-perform in geothermal development?
Geothermal energy has seen good growth but in different scales according to a recent post in the World Economic Forum.
The post quotes the recently released report of “Lessons on the Role of Public Finance in Driving Geothermal Deployment in Developing Countries” by CPI last week.
The role of public entities is crucial since “public financing for geothermal projects should increase to between $56 billion and $73 billion by 2030 from $7.4 billion today, the CPI said.”
Some countries like Kenya and Turkey have been doing far better than the forecast expected yet Indonesia and the Philippines, with massive potential have actually underperformed.
According to CPI’s report, “Turkey and Kenya were able to exceed analysts’ forecasts on geothermal production “through a combination of solid regulatory frameworks and significant development finance support”, the CPI paper said.
To read the full post please follow the link below.
Source: World Economic Forum