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Annex 5. International Experience in Geothermal Development 76. This annex provides a summary of international experience in developing geothermal resources and is focused on countries outside of Central America. Countries reviewed include Iceland, Kenya, Mexico, the Philippines and the United States, in order to illustrate different approaches used in geothermal development. 77. Iceland has an installed geothermal generation capacity of 500 MW, a remarkable achievement for a country with only 300,000 inhabitants. In Iceland, geothermal generation is fully competitive with hydro. The country started commercial geothermal development around 1960 by building a small 3 MW power plant in a remote area. However, no private developers or financing institutions at that time were willing to bear the geological and financial risks related to drillings. Consequently, a National Energy Fund (NEF) was created by the government to provide insurance against such risks—once a drilling plan was approved by the NEF, the Fund would reimburse 80 percent of the actual costs of all unsuccessful drillings. The NEF was replenished on a regular basis and, later on, included grant support for geothermal development, mainly for exploratory activities. The Fund played a critical role in mitigating the exploration and drilling risks, thereby leaving project developers with minimal risk. As the Icelandic companies and utilities became more experienced with fewer failures in drillings and dry boreholes, the Fund has become less important for the development of new projects. It is worth noting that to date all power generation has been developed by public companies and utilities in the country. 78. In addition, Iceland also provided an enabling legal and regulatory framework for geothermal development, including the Act on Survey and Utilization of Ground Resources and the Electricity Act. These two Acts have been amended as needed, including clarifying the ownership of national resources. 79. Kenya has approximately 40 million inhabitants and 170 MW installed geothermal capacity which represents 11 percent of its total installed capacity. Situated in the East African Rift Valley, Kenya is estimated to have several thousand MW geothermal potential. The government began geothermal exploration in 1970 and had assumed almost all the risks in exploration, drilling, financing and construction of the geothermal power plants. Not until 1996 was an independent power developer (IPP) selected to develop and operate the Olkaria III plants. Then in 1997 the then Kenyan Power and Lighting Company (KPLC), which owned the Olkaria I and II plants, was split into two entities: distribution and power generation; the one for power generation, Kenya Power Generating Company (KenGen), was partially privatized with 30 percent currently in private hands. 80. The least cost power development plan elaborated in 2004 identified geothermal power as the least-cost option to replace medium-sized diesel plants which were prevalent in the country. Since then, the government has made strong commitments to developing its abundant geothermal resources. The government bought drilling rigs, provided training to its employees, and in 2009 founded the state-owned Geothermal Development Company (GDC) spun off from KenGen. The GDC takes primary responsibility for performing surface exploration and exploratory drillings at any prospect sites currently not under development by another party. Steam from successful drillings by the GDC is expected to be sold to KenGen or other IPPs. By continuing to reduce the 86PDF Image | Drilling Down on Geothermal Potential Central America
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