GEOLAC Market News - Page 17 of 32

Costa Rica to receive $500m loan for Borinquen geothermal project
May 24, 2018
In mid-May the Legislative Assembly of Costa Rica approved a piece of legislation authorizing an agreement of a line of credit for $ 500 million to the Costa Rican Electricity Institute (ICE) from the Inter-American Development Bank (IDB) ). The line of credit provides ICE with money to finance geothermal energy programs. It also includes resources […]
Announcing GEOLAC Project Awards
May 21, 2018
New Energy Events, the organizers of the Geothermal Congress for Latin America and the Caribbean (GEOLAC), are pleased to announce a collaboration with ThinkGeoEnergy to recognize excellence in the development of geothermal across the region over a five year period. Geothermal industry awards will be made across the following categories: Best Project, Best Financing Program, […]
Five trends driving the LAC geothermal market

From our Editorial Team
May 10, 2018
The LAC geothermal market is heating up — but it’s a slow burn. With only one operating plant each in the Caribbean and South America, and a handful in Central America and Mexico, this region of the world still holds enormous, largely untapped potential for geothermal market growth. Financing, policy, and resource risk continue, however, […]
El Salvador could triple geothermal capacity
May 10, 2018
El Salvador has the potential to produce 440 megawatts (MW) in addition to the 204 MW already obtained through geothermal energy, said yesterday the energy specialist of the Inter-American Development Bank (IDB), Toshitaka Takeuchi. The one thing most needed is more investment in training. Although the country is considered the leader in Latin America in terms […]
Honduras inaugurates first utility-scale geothermal project
May 2, 2018
Honduran President Juan Orlando Hernández and U.S. Overseas Private Investment Corporation (OPIC) Vice President for Investment Policy Ryan Brennan inaugurated Geotérmica Platanares, a 35 megawatt geothermal baseload power plant in western Honduras. The project is supported by $135 million of financing from OPIC, the U.S. Government’s development finance institution, and developed by Reno, Nevada-based Ormat […]
Costa Rica’s 7th geothermal plant is 80% complete
April 26, 2018
In Costa Rica’s Guanacaste province, the construction of the Las Pailas II Geothermal Project is 80% complete. The installation of the Mitsubishi Hitachi turbine is exceeding the established schedule, keeping the progress swift, with preliminary tests to begin in October. Elsewhere on the project site, much has already been completed, including transmission, reinjection systems, drilled […]
Dominica’s geothermal project will receive $17.2m from World Bank
April 19, 2018
Dominica’s 7 MW geothermal project will get an injection of $17.2 million from The World Bank. The bank’s Operations Officer, Karlene Francis, speaking at the launch of the Climate Resilience Execution Agency for Dominica (CREAD) said, “The bank is also working with the Dominica Geothermal Development Company to prepare a geothermal risk mitigation project. Geothermal energy is […]
Bolivia’s Laguna Colorada geothermal project will start drilling in 2019
April 11, 2018
The 100 MW Laguna Colorada geothermal project will begin drilling in 2019, according to reports. Following 70+ studies to establish resource potential and set development targets, the resource is estimated to be as high as 250 MW. The national energy company, ENDE, led the studies and conducted well tests in technical partnership with Japan. An […]
St. Vincent restructures geothermal project, timeline to reset
April 5, 2018
The geothermal project on St. Vincent and the Grenadines has had an ownership shake-up, with a positive result for the citizens of St. Vincent. After renegotiations, the government will now own a 49 percent stake in the geothermal plant, and the developers – Emera and Reykjavik Geothermal (originally with a 75 percent share) will own […]