World Bank Calls for Global Initiative to Scale Up Geothermal Energy in Developing Countries

The World Bank announced a major international effort to expand renewable power generation in developing countries by tapping an underutilized resource: geothermal energy.

World Bank Managing Director Sri Mulyani Indrawati called on donors, multilateral banks, governments and the private sector to join a Global Geothermal Development Plan (GGDP) to better manage and reduce risks of exploratory drilling to bring what is now a marginal renewable energy source into the mainstream, and deliver power to millions.

“Geothermal energy could be a triple win for developing countries: clean, reliable, locally-produced power.