Financing geothermal energy featuring at The Hague summit

Experts from the geothermal sector, financial institutions, governmental bodies, and investors are poised to descend on the Global Geothermal Impact Summit 2024 (GGIS2024) at the Fokker Terminal in The Hague on 23-24 April 2024.

Sessions will explore financing models, risk management, public-private partnerships (PPPs), and ‘impact investment’ scaling up in geothermal energy.

The Global Geothermal Impact Summit is an annual event that brings together industry leaders, policymakers, and innovators to discuss and promote the sustainable development of geothermal energy.

The event serves as a catalyst for collaboration and knowledge exchange, driving advancements in geothermal technology and policy.

International Geothermal Association Executive Director Marit Brommer says there is no better time to participate in the burgeoning industry.

“The technology is ripe, and the potential is vast; now is the time to invest in geothermal energy and accelerate our journey towards a sustainable future.” 

By addressing the financial aspects head-on, GGIS2024 stands to shift paradigms, forge new partnerships, and pave the way for a global geothermal renaissance. 

During the summit sessions led by renowned speakers will be held, delving into critical topics such as financing mechanisms in geothermal projects, risk management, and the role of sustainable investment in driving the industry forward.

Day one of the summit will concentrate on ‘Financing Geothermal,’ while day two will explore ‘Impact Investment’ in the sector.

Martin Hulsebosch, trade officer for the Municipality of The Hague says The Hague offers different geothermal assets.

“In addition to the Rijswijk Centre for Sustainable Geo-Energy, The Hague has another unique geothermal asset: one of the world’s few inner-city geothermal production installations. This facility, Haagse Aardwarmte Leyweg (HAL), is a 7 MW doublet (a production and injection well) that produces heat at 76 degrees Celsius from a depth of 2km, which is used to heat homes in the neighbourhood of the plant.

Yet another local geothermal force to be reckoned is the horticultural sector. The region of The Hague is the centre of the world-famous Dutch greenhouses, which are a key factor in making the Netherlands, despite its small size, one of the largest food exporters in the world. The horticultural sector is highly energy-intensive and has long relied on natural gas as its main heating fuel.”  

Geothermal energy is heat that is generated within the Earth. It is a renewable resource that can be harvested for human use. It is a clean, renewable resource that can be harnessed for use as heat and electricity.

According to the Australian Renewable Energy Agency, Australia has considerable geothermal energy potential, however the electricity produced is not financially viable in the country due to several challenges.

These include identifying suitable geothermal resources; producing hot fluid from the geothermal reservoirs at a high rate; and overcoming the significant up-front capital costs associated with enhanced geothermal system technologies and the cost of transmitting electricity from remote locations.

Write to Adam Orlando at Mining.com.au

Images: ARENA
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.