Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean

Geothermal energy can play a substantial role in meeting the energy needs of many Latin America and Caribbean Region (LAC) countries given the region’s vast potential. The majority of geothermal resources in the LAC region remain largely untapped,...

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Main Author:	World Bank Group
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2018
Subjects:	GEOTHERMAL ENERGY REGULATORY FRAMEWORK INSTITUTIONAL CAPACITY ENERGY FINANCE RISK MANAGEMENT INVESTMENT CLIMATE ENVIRONMENTAL SAFEGUARDS SOCIAL IMPACT RENEWABLE ENERGY PUBLIC-PRIVATE PARTNERSHIPS
Online Access:	http://documents.worldbank.org/curated/en/173681539626591426/Opportunities-and-Challenges-for-Scaling-up-Geothermal-Development-in-Latin-America-and-Caribbean-Region http://hdl.handle.net/10986/30895

id	okr-10986-30895
recordtype	oai_dc
spelling	okr-10986-308952021-05-25T09:19:32Z Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean World Bank Group GEOTHERMAL ENERGY REGULATORY FRAMEWORK INSTITUTIONAL CAPACITY ENERGY FINANCE RISK MANAGEMENT INVESTMENT CLIMATE ENVIRONMENTAL SAFEGUARDS SOCIAL IMPACT RENEWABLE ENERGY PUBLIC-PRIVATE PARTNERSHIPS Geothermal energy can play a substantial role in meeting the energy needs of many Latin America and Caribbean Region (LAC) countries given the region’s vast potential. The majority of geothermal resources in the LAC region remain largely untapped, not only in Central America and Mexico where development is more advanced, but also in the Caribbean and in South America. If further explored and developed in a sustainable fashion, these resources could meet a significant share of the base load power needs of the region, at a competitive cost, resulting in direct economic and environmental benefits. This report is envisioned to be a decision-makers’ guide for assessing key challenges and measures to facilitate expanding geothermal development in LAC. Based on discussions with LAC policymakers, utilities, and developers, several cross-cutting challenges affecting most countries in the region were identified, including: i) addressing geothermal resource risks; ii) mobilizing financing for geothermal development; iii) policy, legal, and regulatory reforms to improve the investment climate; and iv) environmental and social considerations. Based on the World Bank’s own extensive experience in the geothermal sector and drawing upon global and regional experience, this report then presents demonstrated solutions to addressing these key challenges. It showcases an array of measures from around the world that clients in LAC can customize for application in their own domestic markets. 2018-11-27T20:39:49Z 2018-11-27T20:39:49Z 2018-06-26 Report http://documents.worldbank.org/curated/en/173681539626591426/Opportunities-and-Challenges-for-Scaling-up-Geothermal-Development-in-Latin-America-and-Caribbean-Region http://hdl.handle.net/10986/30895 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: ESMAP Paper Publications & Research Latin America & Caribbean Caribbean Latin America
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	GEOTHERMAL ENERGY REGULATORY FRAMEWORK INSTITUTIONAL CAPACITY ENERGY FINANCE RISK MANAGEMENT INVESTMENT CLIMATE ENVIRONMENTAL SAFEGUARDS SOCIAL IMPACT RENEWABLE ENERGY PUBLIC-PRIVATE PARTNERSHIPS
spellingShingle	GEOTHERMAL ENERGY REGULATORY FRAMEWORK INSTITUTIONAL CAPACITY ENERGY FINANCE RISK MANAGEMENT INVESTMENT CLIMATE ENVIRONMENTAL SAFEGUARDS SOCIAL IMPACT RENEWABLE ENERGY PUBLIC-PRIVATE PARTNERSHIPS World Bank Group Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean
geographic_facet	Latin America & Caribbean Caribbean Latin America
description	Geothermal energy can play a substantial role in meeting the energy needs of many Latin America and Caribbean Region (LAC) countries given the region’s vast potential. The majority of geothermal resources in the LAC region remain largely untapped, not only in Central America and Mexico where development is more advanced, but also in the Caribbean and in South America. If further explored and developed in a sustainable fashion, these resources could meet a significant share of the base load power needs of the region, at a competitive cost, resulting in direct economic and environmental benefits. This report is envisioned to be a decision-makers’ guide for assessing key challenges and measures to facilitate expanding geothermal development in LAC. Based on discussions with LAC policymakers, utilities, and developers, several cross-cutting challenges affecting most countries in the region were identified, including: i) addressing geothermal resource risks; ii) mobilizing financing for geothermal development; iii) policy, legal, and regulatory reforms to improve the investment climate; and iv) environmental and social considerations. Based on the World Bank’s own extensive experience in the geothermal sector and drawing upon global and regional experience, this report then presents demonstrated solutions to addressing these key challenges. It showcases an array of measures from around the world that clients in LAC can customize for application in their own domestic markets.
format	Report
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean
title_short	Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean
title_full	Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean
title_fullStr	Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean
title_full_unstemmed	Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean
title_sort	opportunities and challenges for scaling up geothermal development in latin america and the caribbean
publisher	World Bank, Washington, DC
publishDate	2018
url	http://documents.worldbank.org/curated/en/173681539626591426/Opportunities-and-Challenges-for-Scaling-up-Geothermal-Development-in-Latin-America-and-Caribbean-Region http://hdl.handle.net/10986/30895
_version_	1764473034318544896

Opportunities and Challenges for Scaling Up Geothermal Development in Latin America and the Caribbean

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