Latin America & Caribbean: Key geothermal market insights for 2024
Latin America & Caribbean geothermal market insights whitepaper to be published by ThinkGeoEnergy
Carlo Cariaga
3 Dec 2024
Just in time for GEOLAC in El Salvador, ThinkGeoEnergy shares a preview of a whitepaper on key geothermal insights in the Latin America and Caribbean region.
Latin America and the Caribbean (LAC) are poised to play a critical role in the global geothermal energy sector. With an estimated geothermal potential of 55–70 GW, the region remains an untapped powerhouse, currently utilizing only 1,751 MW of its capacity—just 11% of the global total.
At the forefront of geothermal innovation, ThinkGeoEnergy has partnered with GEOLAC since its inception, and this year is no different. As we prepare for the 11th annual congress in San Salvador, we are proud to announce the upcoming release of our whitepaper, “Geothermal Power in Latin America & the Caribbean: State of Play and Opportunities.”
Key Findings from the Whitepaper:
Regional Leaders and Growth Opportunities:
- Mexico leads the region, accounting for 56% of its geothermal capacity.
- Emerging players such as Dominica, Bolivia, and Colombia showcase the region’s untapped potential.
Challenges to Overcome:
- High exploration costs (often due to remoteness of projects) and and lack of regulatory frameworks continue to hinder growth.
- However, technical advancements on drilling e.g. through Enhanced Geothermal Systems (EGS), and targeted policy reforms offer hope for a brighter future.
Notable Projects and Innovations:
- Mexico’s Cerro Prieto remains one of the largest geothermal complexes, while Chile’s Cerro Pabellón highlights South America’s high-altitude potential.
- Modular geothermal systems are gaining traction in the Caribbean and in Colombia, ideal for small-scale energy needs.
GEOLAC 2024: ThinkGeoEnergy’s Role
This year’s congress will feature key insights from our Spanish-language editor, Oscar Llamosa Ardila, from PiensaGeotermia. He will present exclusive findings from our whitepaper and discuss the opportunities and challenges facing the industry.
Stay Tuned!
The full whitepaper, including detailed charts, maps, and data, will be available for download soon. Join us at GEOLAC 2024 or follow ThinkGeoEnergy for updates on this essential report that redefines geothermal’s role in LAC’s energy transition.
