en.Wedoany.com Reported - The governments of Colombia and Iceland have signed a Memorandum of Understanding (MoU) to cooperate bilaterally in the development of geothermal energy. The agreement is based on Iceland's experience and leadership in the geothermal sector, while aligning with Colombia's significant resource potential for geothermal development.
The MoU was signed by Colombia's Ministry of Environment and Sustainable Development, the Ministry of Mines and Energy, and Iceland's Ministry of Environment, Energy and Climate. The memorandum lays the foundation for cooperation in areas such as knowledge exchange, capacity building, research, and joint initiatives for the sustainable use of geothermal potential.
Colombia's Minister of Environment and Sustainable Development, Irene Vélez Torres, stated that science has demonstrated the urgency of transforming the energy matrix and the economy to address the climate crisis, making such alliances crucial for strengthening Colombia's capacity to advance a just energy transition. She also emphasized that decarbonization means leaving fossil fuels in the ground and focusing on promoting cleaner, more reliable, and longer-lasting underground energy sources.
Through this agreement, both parties aim to strengthen cooperation among public institutions and, where appropriate, foster connections between public entities, private sector participants, research centers, and other organizations involved in geothermal energy development. Areas of cooperation include: knowledge exchange on the exploration and sustainable use of geothermal resources (for electricity generation and direct heating); research, innovation, and technological development; and the identification and development of geothermal energy demonstration projects. The MoU also outlines cooperation opportunities such as technical training programs, study visits, thematic workshops, joint research and development activities, and the establishment of collaborative networks among public institutions.
Currently, geothermal energy plays a significant role in Iceland's daily life, but Colombia's geothermal industry is still in its early stages. Colombia has only one 100 kW geothermal power demonstration plant in Casanare. Recently, the Colombian government approved the country's first large-scale geothermal exploration project, located in Nereidas.
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