Market News

Global Geothermal Power Market: Key Developments

In March 2018, Tata Power has commissioned a 1-MW geothermal pilot plant in Australia in association with Geodynamics. Geodynamics is an industry major in enhanced geothermal systems. It has geothermal exploration interests in three Australian states, including a licence to explore 2,000 sq.km in the Cooper Basin

In December 2022, Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), has received an order from PT Pertamina Geothermal Energy (PGE), the geothermal energy subsidiary of Indonesia's state-owned oil and natural gas corporation PT Pertamina (Persero), for a 55 MW power generating unit comprising a steam turbine, generator, and related equipment for the Lumut Balai Unit 2 geothermal power plant.

In January 2023, State-owned Korea Electric Power Corporation (KEPCO) sold its thermal assets in the Philippines, primarily its equity in a power generation facility in Cebu province. KEPCO will also be selling its interest in its partnership with SPC Power Corporation.