Geothermal power plants in 24 countries generate 11 GW of electricity globally. The USA, Indonesia and the Philippines are the largest producers of electricity from geothermal energy. In Iceland, geothermal power makes 25% of the country’s energy supply.
The potential for geothermal electricity production is largely untapped
Several reasons explain why:
- Prime sites for geothermal power plants have been limited to spots near plate boundaries, where the Earth’s crust is thinner. New technologies promise to expand the reach beyond these regions.
- More notably, capital costs are high, explorations uncertain and lead times long. Drilling remains expensive (2 to 5 million € per MW) and risky (20% failure rate) and projects can last up to six years before operation.
Gothermal power offers clear benefits
Hardly any other renewable energy source can match the advantages of geothermal power:
- Geothermal power plants operate at 90-95% capacity, around the clock and regardless of the weather or geography.
- At 4 to 10 cents € per kWh, geothermal energy boasts one of the lowest power-generating costs, well below that of solar or wind.
- Geothermal power plants require less land per MW than any other type of power plant.
- Producing electricity from geothermal energy involves no combustion so it is virtually emissions free.
Business opportunities in geothermal power plants
There are vast business opportunities in building and operating geothermal power plants. Experienced project developers and independent power producers (IPP) that partner with local companies are the best suited to drive (and profit from) power-plant projects. The best opportunities are in the acquisition of shares in license-holding companies or in running projects with exploration licenses.
Apricum’s services in geothermal energy
We help private and public companies choose the most appealing markets, assess the potential for geothermal power generation in specific locations, select the fitting technology and design the most adequate business model. We support our clients through all the project’s phases: from appraisal to development, implementation and monitoring.
Contact us to discover new business opportunities in geothermal power generation.