GEOLAC 2025 Market News

Ecuador moves forward with Tufiño-Chiles-Cerro Negro geothermal project to generate 138 MW of clean energy

May 15, 2025

Ecuador’s Ministry of Energy and Mines is advancing the Tufiño-Chiles-Cerro Negro Binational Geothermal Project, located on the northern border with Colombia, to diversify the country’s energy mix. A letter of intent was signed on April 10 to begin the project’s implementation, which will harness the geothermal potential in Carchi province and generate up to 138 […]

Grenada advances geothermal energy project

May 15, 2025

The Government of Grenada is advancing its Geothermal Energy Development Project, now entering the exploration drilling phase. The project aims to generate up to 15 MW of clean, renewable baseload power, reducing the country’s reliance on imported fossil fuels while enhancing grid reliability. Source: Now Grenada

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