Harnessing Geothermal Potential in Latin America and The Caribbean: A Perspective on the Road Ahead
For the Inter-American Development Bank (IDB), geothermal energy is a key strategic area. Since GEOLAC 2018, which was held in Mexico City in July 2018, we have taken important steps and measures to collaborate and contribute to the development of geothermal energy in Latin America and the Caribbean (LAC). The first measure was the decision to constitute a special group within the IDB to focus on the promotion and development of geothermal projects and initiatives across the region. On March 21, 2019, the IDB Vice Presidency for Sectors officially created the Special Group on Mining, Geothermal and Hydrocarbons (MGH) within the Department of Infrastructure and Energy. This group has been staffed with 15 professionals that design, executes and oversees geothermal projects, not only for power generation but also for direct uses for the availability, which contribute to promote decarbonization activities in all LAC. This document summarizes the main actions and key initiatives in the region in geothermal energy since 2018 and includes a summary organized by country, containing policy and regulatory framework recommendations which are the result of regional dialogues seeking to promote and develop geothermal energy.