Business and Finance Business and Finance
Mon, December 2, 2024
[ 07:00 AM ] - Bill Williamson
Kazakh & Chinese Officials, Business Leaders Intend to Enhance Interregional Cooperation
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[ 02:01 AM ] - Bill Williamson
Financial and community hurdles slow geothermal energy development in Southeast Asia

Financial and community hurdles slow geothermal energy development in Southeast Asia


Published on 2024-12-02 02:01:05 - Bill Williamson, WOPRAI
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  • Positioned along the seismically active Ring of Fire, Indonesia and the Philippines have the second and third highest installed geothermal energy capacity in the world, after the United States. Both Southeast Asian island nations are tapping into only a small fraction of their geothermal potential,

The article from KOB 4 discusses the slow development of geothermal energy in Southeast Asia due to various financial and community-related challenges. Despite the region's significant geothermal potential, particularly in countries like Indonesia and the Philippines, the high initial costs of drilling and exploration deter investment. Additionally, geothermal projects often face opposition from local communities due to concerns over land rights, environmental impacts, and the displacement of people. These issues are compounded by regulatory hurdles and the need for substantial infrastructure development. While geothermal energy promises a reliable, renewable energy source that could reduce reliance on fossil fuels, the combination of financial risks, community resistance, and regulatory complexities has slowed its adoption in Southeast Asia.

Read the Full KOB 4 Article at:
[ https://www.kob.com/news/business-money/financial-and-community-hurdles-slow-geothermal-energy-development-in-southeast-asia/ ]
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