GEOLAC Market News - New Energy Events

World Bank approves US$150 million to expand geothermal energy in El Salvador
April 10, 2025
The World Bank has approved a US$150 million investment to boost geothermal energy in El Salvador, funding the drilling of wells and the construction of a 25-MW geothermal power plant in Chinameca. Implemented by state-owned LAGEO, the project also includes social and environmental initiatives to support local communities, create green jobs, and promote the direct […]
El Salvador expands geothermal capacity with new 7 MW Berlin Plant and Ahuachapan upgrades
March 13, 2025
El Salvador’s 7-MW Berlin binary geothermal power plant has been installed and is undergoing testing, with operations expected to begin later this year, according to Daniel Alvarez of DGEHM. Additionally, improvements at the Ahuachapan geothermal plant have increased its capacity by 2 MW, bringing the country’s total installed geothermal capacity to 204 MW. Managed by […]
Chile expands geothermal development with new exploration licenses for Transmark Chile SpA
February 6, 2025
Chile’s Ministry of Energy granted two geothermal exploration licenses to Transmark Chile SpA, expanding the country’s geothermal development. This decision reinforces Chile’s commitment to leveraging its geothermal potential along the Pacific Ring of Fire. Source: ThinGeoEnergy
Colombia introduces competitive framework to boost geothermal energy development
February 6, 2025
Colombia’s new framework will enhance geothermal energy development by implementing a competitive process for awarding exploration and exploitation permits. The new framework strengthens environmental protection, community engagement, and infrastructure access while ensuring economic viability and advancing drilling techniques. Source: ThinkGeoEnergy
Nevis advances geothermal energy project with new bidding process
January 23, 2025
The Nevis Island Administration announced progress on its Geothermal Energy Project, with Premier Mark Brantley confirming a new bidding process for drilling contractors. Shortlisted contractors are expected to submit bids by February 2025, following a previous round that did not meet requirements. Source: St. Kitts Nevis Observer
GEOBUILD and FRENZ collaborate to strengthen geothermal workforce in the Caribbean
January 23, 2025
The GEOBUILD initiative, in collaboration with the FRENZ program, is launching a six-month evaluation of skills and training needed for geothermal development in the Caribbean. The study will focus on workforce requirements across the geothermal cycle and identify opportunities for capacity building in key areas like project management and regulatory oversight. Source: ThinkGeoEnergy
UK announces US$10.7 million funding for Grenada’s geothermal energy development
December 19, 2024
The UK has announced a US$10.7 million funding package to support Grenada’s Geothermal Energy Development Project. The investment will fund critical resource testing, including drilling exploratory wells to evaluate geothermal electricity potential. Source: Caribbean Loop News
Honduras launches tender for Namasigüe Geothermal project development
December 19, 2024
The National Electric Energy Company of Honduras (ENEE) has opened a tender for technology selection and plant development for the Namasigüe Geothermal Project, with proposals due by January 21, 2025. This project, located in Choluteca, aims to develop a low to medium enthalpy geothermal power plant, considering social and environmental factors. Honduras currently has one […]
Dominica advances with first geothermal power plant project
December 6, 2024
Dominica is progressing with its first geothermal power project, with site preparation for the 10 MW plant underway. Construction is expected to begin by early 2025, following the completion of excavation work. The government has signed an agreement with Ormat Technologies Inc. to finance, operate, and maintain the plant, with ownership transferring to the government […]