The Latin American Energy Organization (OLADE) participated in the tenth Geothermal Congress for Latin America and the Caribbean (GEOLAC 2023), an event that brought together leaders from the region in Cartagena de Indias, Colombia, to explore technological advances, opportunities for collaboration with the oil and gas industry, and the fundamental role of geothermal energy in the transition to cleaner and more resilient energy.
The agenda covered a wide range of topics, from collaborating with the oil and gas industry to expand geothermal, to green hydrogen production and technological advances that reduce costs and risks in geothermal projects. Issues related to decarbonisation and the application of geothermal heat pumps in residential, commercial and industrial applications were also discussed.
The regulation poses major challenges for geothermal. The risks assumed by developers in the prospecting stages must be offset by the benefits it offers when in operation: firmness, flexibility and better use of the transmission infrastructure due to its high plant factor.
During the event, the Director of Studies, Projects and Information of OLADE, Medardo Cadena, highlighted the enormous benefits of geothermal energy, although its development in the region is marginal. Geothermal-based generation reaches 1.8 GW, representing just 0.3% of the installed capacity in Latin America and the Caribbean.
The event was attended by geothermal experts, energy industry leaders and government officials, who provided an updated view on geothermal development in their respective disciplines. In addition, key issues such as financing, regulation, and social and environmental significance related to geothermal were addressed.
Communications and Institutional
Relations Department
josefa.corral@olade.org
