World Bank to raise $500 mn for geothermal energy

Mar 06, 2013
A geothermal energy plant taps deep underground heat from the southern San Andreas Fault rift zone near the Salton Sea on July 5, 2011 near Calipatria, California. The World Bank launched a fund in Reykjavik on Wednesday to come up with $500 million for developing geothermal energy in developing countries.

The World Bank launched a fund in Reykjavik on Wednesday to come up with $500 million for developing geothermal energy in developing countries.

"Geothermal energy could be a triple win for developing countries: clean, reliable, locally produced power," Managing Director Sri Mulyani Indrawati said in a statement.

"At least forty countries have enough geothermal potential to meet a significant proportion of their ," the bank said, citing Kenya and Indonesia as pioneers in developing .

Donors could participate in the Global Geothermal Development Plan by helping to identify viable projects and providing assistance, it said.

The World Bank said it would convene a donors conference on the plan later this year.

Explore further: First of four Fukushima reactors cleared of nuclear fuel

add to favorites email to friend print save as pdf

Related Stories

Indonesia aims to tap volcano power

Apr 24, 2010

Indonesia has launched an ambitious plan to tap the vast power of its volcanoes and become a world leader in geothermal energy, while trimming greenhouse gas emissions.

Intelligent use of the Earth's heat

Feb 27, 2009

Geothermal energy is increasingly contributing to the power supply world wide. Iceland is world-leader in expanding development of geothermal utilization: in recent years the annual power supply here doubled ...

Zero-emission electricity studied to power the Galilee Basin

Feb 10, 2010

(PhysOrg.com) -- In the wake of mining billionaire Clive Palmer’s announcement to build six mines in the Galilee Basin, UQ research is investigating the possibility of emission-free electricity from a plentiful underground ...

Recommended for you

The state of shale

Dec 19, 2014

University of Pittsburgh researchers have shared their findings from three studies related to shale gas in a recent special issue of the journal Energy Technology, edited by Götz Veser, the Nickolas A. DeCecco Professor of Che ...

Website shines light on renewable energy resources

Dec 18, 2014

A team from the University of Arizona and eight southwestern electric utility companies have built a pioneering web portal that provides insight into renewable energy sources and how they contribute to the ...

Better software cuts computer energy use

Dec 18, 2014

An EU research project is developing tools to help software engineers create energy-efficient code, which could reduce electricity consumption at data centres by up to 50% and improve battery life in smart ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.