Geothermal energy is an abundant resource in the Andean region that has enormous potential to provide low-cost clean energy, though it remains largely untapped. The total geothermal resource capacity of the region is approximately 12 gigawatts, which equals the total installed global geothermal capacity in 2014.
Despite such considerable and unique geothermal energy potential, no geothermal power plants are operating to date as Andean countries still face challenges. In this context, the International Renewable Energy Agency (IRENA), together with the government of Colombia, recently co-organised a two-day workshop to address this issue. The event focused on: identifying the main barriers that Andean countries face in financing geothermal projects; and disseminating best practices.
