GEOTHERMAL ENERGY

IN EUROPE AND

THE REST OF THE WORLD

GEOTERMIKONFERENCE PÅ CHRISTIANSBORG

ALEXANDER RICHTER | THINKGEOENERGY

19 FEBRUARY 2018

889

542

676

710

944

951

980

1,100

1,809

1,868

3,591

0 500 1000 1500 2000 2500 3000 3500

Other

Japan

Kenya

Iceland

Italy

Mexico

New Zealand

Turkey

Indonesia

Philippines

United States

TOP 10 GEOTHERMAL COUNTRIESINSTALLED CAPACITY - MW (FEBRUARY 2018) – 14,060 MW IN TOTAL

Source: TGE Research (2017), GEA (2016), IGA (2015), JESDER (2017) Enerji Atlasi (2017)

1 GW Country Club

Source: ThinkGeoEnergy Research (2017), GEA (2016), IGA (2015)

TOP 10 GEOTHERMAL COUNTRIESINSTALLED CAPACITY & PROJECTS - MW (February 2018)

1,423

8

944

710

980

951

676

1,100

1,868

3,591

1,809

2,817

987

145

495

285

456

1,037

798

1,651

1,248

3,958

0 1,000 2,000 3,000 4,000 5,000 6,000

Other

Ethiopia

Italy

Iceland

New Zealand

Mexico

Kenya

Turkey

Philippines

United States

Indonesia

Installed

Projects & permitted

1 GW Country Club

Future members

GEOTHERMAL COUNTRIESINSTALLED CAPACITY - MW (FEBRUARY 2018)

1

1

2

3

8

16

27

29

40

42

48

56

97

109

205

205

542

676

710

944

951

980

1,100

1,809

1,868

3,591

0 500 1000 1500 2000 2500 3000 3500

Austria

Australia

France

Hungary

Ethiopia

Guadeloupe

China

Portugal

Germany

Guatemala

Chile

Papua New…

Russia

Nicaragua

El Salvador

Costa Rica

Japan

Kenya

Iceland

Italy

Mexico

New Zealand

Turkey

Indonesia

Philippines

United States

Source: TGE Research (2017), GEA (2016), IGA (2015), Enerji Atlasi (2017)

2,712

250

285

456

495

798

987

1,037

1,248

1,651

3,958

0 500 1,000 1,500 2,000 2,500 3,000 3,500

Other

Guatemala

New Zealand

Mexico

Iceland

Turkey

Ethiopia

Kenya

United States

Philippines

Indonesia

Source: TGE Research (2017), GEA (2016), IGA (2015), JESDER (2017) Enerji Atlasi (2017)

TOP 10 GEOTHERMAL COUNTRIESBY PROJECTS UNDER DEVELOPMENT - MW (JANUARY 2018)

48

577

1,037

1,020

684

1,823

4,493

4,241

620

798

354

1,139

2,234

1,337

1,858

5,836

0 2,000 4,000 6,000 8,000 10,000

South America

Cent. America & Caribbean

Aus., NZ & Pacific

Middle East

Africa

Europe

North America

Asia

Installed

Projects & permitted

Source: ThinkGeoEnergy Research (2017), GEA (2016), IGA (2015)

GEOTHERMAL REGIONAL MARKETSINSTALLED CAPACITY & PROJECTS - MWe (OCTOBER 2017)

GLOBAL GEOTHERMAL POTENTIALPOWER GENERATION POTENTIAL (MWe)

Sources: ThinkGeoEnergy, Geothermal Energy Association, IGA, ChevronNote: Installed Capacity of 2017 [2015], resource estimates combined (1999-2012) – IGA estimates a conservative total potential of 70,000 MW and with

technology improvements (extended use of low heat and EGS resources) at around 140,000 MW in power generation capacity.

Current installed capacity

Projects & inferred resources

High temperature regions

Hydrothermal resource estimates

Installed Resources

North America

4,496

32,200

6,423

Installed Resources

Cent. America & Caribbean

577

27,400

618

Installed Resources

Europe

1,826

3,400

1,271

Installed Resources

Africa

684

11,600

2,249

Installed Resources

South America

48

30,800

730

Installed Resources

Asia

4,241

70,900

5,836

Installed Resources

Aus., NZ & Pacific

1,037

7,700

666

Installed Resources

Middle East

1,1002,550

853

TURKEY GEOTHERMAL DEVELOPMENT INSTALLED POWER GENERATION CAPACITY 1984-2018

15 15 23 23 3077 94 117 163

350442

660859

1,109

271

527

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Source: JESDER (2018), Enerji Atlasi (2018), TGE Research (2018)

15 8 747 17 23

47

187

92

218

200

250

271

30

110

175

257 2

20420

60

141

18720

3 20

11555

35

210

165

255

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

GEOTHERMAL DEVELOPMENT – INDONESIA VS. TURKEYINSTALLED CAPACITY ADDITIONS BY YEAR (MW) + PLANNED 2018

Sources: TGE Research (2018), Pertamina (2018), Ifnaldi Sikumbang (2017), JESDER (2018)

Indonesia installed

capacity 1,809 MW

Turkey installed

capacity 1,100 MW

Indonesia

Capacity added

Average

plant size: 49 MW

Planned capacity

Turkey

Capacity added

Average

plant size: 19 MW

Planned capacity

ENERGY DEMAND EUROPEAN UNION2013 FINAL DEMAND BY SECTOR IN EUR28: 14,000 TWH

Source: IHS Energy Multi-client Study Beyond the Flame: The Transformation of Europe’s Heat Sector (2016)

Heating & Cooling -

Residential

20%

Heating & Cooling -

Commercial

9%

Heating & Cooling -

Industry

15%

Feedstock

6%

Commercial - Other

4%

Industry - Other

8%

Residential - Other

5%

Transport

33%

2013 Final Demand by Sector in EUR28 (%)

HEATING DEMAND 44%

CHINATHE $90 BILLION PUSH FOR SMOKE FREE CITIES

GEOTHERMAL ENERGYGLOBAL DIRECT USE 2015 (UTILIZATION IN % BASED ON TJ/ YEAR)

Source: Lund, J. Direct Utilization of Geothermal Energy 2015 – Worldwide Review (IGA, WGC 2015)

Heat pumps

55.30%Space Heating

15.01%

Greenhouse Heating

4.54%

Aquaculture

2.03%

Agricultural drying

0.35%

Industrial uses

1.78%

Bathing & Swimming,

20.31%

Cooling/

snow melting

0.44%

Others

0.25%

Direct use utilization with heat pumps 2015 (TJ/ yr)

Bathing &

swimming

44.74%

Space heating

36.98%

Greenhouse heating

8.96%

Aquaculture

3.40%

Industrial use

2.99%

Cooling/ snow melting

1.76%

Agriculture

drying

0.79%

Others

0.39%

Direct use utilization without heat pumps 2015 (TJ/ yr)

GEOTHERMAL ENERGYGLOBAL DIRECT USE CAPACITY – MW THERMAL

1,845 5,27515,384

33,124

49,898

68,000

6,8109,870

12,885

15,359

20,431

27,000

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

1995 2000 2005 2010 2015 2020 (e)

Other direct use

Heat pumps

Source: Lund, J. Direct Utilization of Geothermal Energy 2015 – Worldwide Review (IGA, WGC 2015)

Estimates

GEOTHERMAL ENERGYEUROPEAN OVERVIEW

Source: EGEC Geothermal Market Report 2016 (2017)

2,200

European Installed Capacity – Geothermal Power & District Heating (2016

European Installed Capacity –Geothermal District Heating (2016

GEOTHERMAL ENERGYGEOTHERMAL DISTRICT HEATING PLANTS IN OPERATION & PLANNED

Source: EGEC Geothermal Market Report 2016 (2017)

GEOTHERMAL ENERGY

DEVELOPMENT CHALLENGES

Technical

• Resource

• Drilling

• Resource risks

• Equipment

GEOTHERMAL ENERGY

DEVELOPMENT CHALLENGES

Business, Finance …

• Financial structures

• Risk mitigation (insurance)

• Development time

• Off-taker

• Structure of projects

THINKGEOENERGY

LEADING IN NEWS AND RESEARCH ON

GEOTHERMAL ENERGY

Focus on power generation and direct use … also internationally in

Spanish (PiensaGeotermia.com) and in Turkish (JeotermalHaberler.com)

CONTACT

THINKGEOENERGY

REYKJAVIK/ ICELAND

ALEXANDER RICHTER

+354 618 5304

ALEX@THINKGEOENERGY.COM

@thinkgeoenergy

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