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GEA Forum 2014

For Immediate Release
Contact: Shawna Seldon
shawna@rosengrouppr.com
917 971 7852

Strong Optimism for Geothermal Globally,
Hope for U.S. Market Expressed as Industry Meets in Nevada


To listen to the audio of press conference, please click here.

Las Vegas (October 3, 2013) – The GRC Annual Meeting & GEA Geothermal Energy Expo wrapped up this week after welcoming nearly 2,000 delegates to Las Vegas for an event that featured the latest technologies in geothermal, and frank discussions on opportunities and challenges internationally as well as within the United States. Attendees represented nearly 40 countries, and all 50 states.

“Each year, the GEA brings together the geothermal business community from all around the world at its EXPO,” noted GEA Executive Director Karl Gawell. “The sense from the industry was strong optimism for sustained growth in the global market despite lagging U.S. markets, and hope that as the United States works to meet higher state RPS requirements and new climate change goals the value of geothermal will be recognized which will spur growth."

GEA's optimism was underscored by release of a GEA report identifying over 700 geothermal projects under development worldwide. The report estimated that projects in the pipeline would more than double current worldwide capacity from the 12,000 Megawatts (MW) expected to be on-line by year's end, and beyond that "developers are actively engaged with 27,000 MW of geothermal resource globally."

In the U.S., GEA pointed out that as the percentage of electricity produced from intermittent sources increases, the stress on an aging power system designed for fossil fuels encourages geothermal’s continuing role as an important part of the power supply mix. "The market will turn around as geothermal's full value to the grid is recognized," Gawell said. "Its baseload capacity makes it valuable for replacing retiring fossil fuel facilities, and its ability to provide flexible support will add to power system reliability."

This year’s gathering incorporated a wide range of activities supporting U.S. companies working in the international market. Both the U.S. Trade and Development Agency and the U.S. Agency for International Development supported delegations from Turkey and East Africa, respectively. Presentations in the EXPO hall featured delegates from several countries seeking to develop their geothermal power potential. GEA also held a standing room only dialogue with U.S. companies discussing how to expand U.S. exports of goods and services in key world markets.

A wide range of technology was on display at the GEA Geothermal Energy Expo, which featured 125 booths. EXPO booths highlighted the latest in technology to support today's power projects and tomorrow's "enhanced geothermal system" developments.

At the event, GEA also held its annual members meeting and elected a new President for the Association. Craig Mataczynski, President and CEO of Gradient Resources, was elected as GEA's President. Speaking in the Opening Session of the event, Mataczynski laid out a bold new vision for the industry: "to contribute in excess of 5% of the electric energy needs in the United States and globally."

The next GEA event will be the GEA International Geothermal Energy Forum & Expo, April 29-30 in Washington, DC. For more information on this event visit GEA's website at www.geo-energy.org or contact Kathy Kent at kathy@geo-energy.org. For more information, please contact Shawna Seldon, The Rosen Group, 917 971 7852 or shawna@rosengrouppr.com.
 
About the Geothermal Energy Association:
The Geothermal Energy Association (GEA) is a trade association composed of U.S. companies who support the expanded use of geothermal energy and are developing geothermal Resources worldwide for electrical power generation and direct-heat uses. GEA advocates for public policies that will promote the development and utilization of geothermal Resources, provides a forum for the industry to discuss issues and problems, encourages research and development to improve geothermal technologies, presents industry views to governmental organizations, provides assistance for the export of geothermal goods and services, compiles statistical data about the geothermal industry, and conducts education and outreach projects. For more information, please visit http://www.geo-energy.org/. Check out GEA’s YouTube Channel. Follow GEA on Twitter. Become a fan on Facebook..

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