Based on the World Bank’s own extensiveglobal experience and drawing upon international expertisefrom leading specialists and practitioners, this reportpresents a comparative assessment of various approaches thathave been applied around the world, with varying degrees ofsuccess, to mitigate resource risks and catalyze investmentsin developing the geothermal sector. It provides a frameworkthat can help decision makers identify suitable approachesthat are commensurate with development goals, fundingcapacity, implementation capabilities, and othercircumstances specific to the context in a given country.Geothermal presents an opportunity for many countries todiversify their power generation mix in a sustainable waysince it is an environmentally friendly, clean energy sourcethat can reliably produce baseload power on a 24 by 7 basis.Despite over 100 years of development and an estimatedglobal potential of 70 - 80 gigawatts (GW), only about 15percent of the known geothermal reserves are presentlyexploited and producing electricity. While there are manyreasons, in various countries, for the slow pace ofgeothermal development, one widely recognized and uniqueobstacle that is applicable worldwide is the high resourcerisk during the early stages of the geothermal developmentprocess. As a result, it is difficult to mobilize theearly-stage investments, especially through the private sector.
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