Governments agreed to identify and implement measures to significantly increase the speed of geothermal energy development around the world, following a milestone meeting between public and private leaders in Florence, Italy recently. The meeting was marked by the release of a new report from the International Renewable Energy Agency (IRENA), coordinator of the GGA, wherein access to capital for surface exploration and drilling was cited as the main barrier to geothermal development. The report also noted that more “transparent government regulations that avoid project delays” were needed to provide sufficient certainty to developers and investors. Italy considers the Paris Agreement to be irreversible and non-negotiable, and therefore strives to promote geothermal and other renewable energy sources as a vital component for the planet’s sustainable development. Through partnerships and the Geothermal Risk Mitigation Facility, the African Union is currently supporting twenty-six projects in East African countries that will generate more than 1500 MW of power.
Contact Timothy Hurst, IRENA, Tel 012 417-9000, email@example.com
Source: EE plublishers