In its research, ThinkGeoEnergy has counted 806 geothermal power projects in development with a combined capacity of 23,313 MW, with the majority in Asia, North America and Africa.
That sounds impressive, but the industry faces strong challenges everywhere. Projects need to secure government approval, public consent (sometimes complicated by local opposition), power purchase agreements and, last but not least, necessary financing. The latter has been particularly challenging.
According to the survey, the fourth largest market today is Turkey. With its continuously growing economy, Turkey is looking to geothermal to fuel its increasing energy demand. The country currently has some 780 megawatts under development, most of this utilizing lower-heat resources and combined development plans for power generation and direct use in greenhouse and district heating applications.
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Source: ThinkGeoEnergy
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