Geothermal Energy: Expansion Well Underway in Developing Countries (World Bank)
Since launching a year and a half ago, a multi-donor initiative led by the
World Bank’s
Energy Sector Management Assistance Program (ESMAP) has mobilized $235 million through the
Clean Technology Fund towards scaling up geothermal energy – an important source of low-carbon baseload power for many developing countries. Projects have been identified and are now under preparation in Africa, Latin America and the Caribbean, Eastern Europe and Central Asia, and East Asia and the Pacific.
The
Global Geothermal Development Plan brings together development partners to address one of the key barriers to the expansion of geothermal in developing countries: limited capacity and capital available for early-stage exploration – a phase that is costly and during which a developer’s equity can be locked in for many years with uncertain returns.
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