NEW DELHI: India on Monday launched its first national policy on geothermal energy, joining a growing list of countries betting on subterranean heat to power their clean energy transitions.
India's Ministry of New and Renewable Energy said the policy aims to unlock the country's untapped geothermal potential through incentives and regulations.
It also encourages repurposing abandoned oil and gas wells and deploying ground source heat pumps for heating and cooling.
WHY IT'S IMPORTANT
Countries such as Germany have accelerated geothermal expansion and Big Tech companies in the U.S. have been scouting for low-carbon electricity to fuel AI growth.
India has identified 381 hot springs and 10 geothermal provinces, including Ladakh, Himachal Pradesh and Gujarat, the MNRE said.
The policy also promotes joint ventures between geothermal developers and oil, gas, and mineral companies, and proposes fiscal incentives such as tax holidays, import duty exemptions and viability gap funding.
CONTEXT
Conventional geothermal power involves drilling deep into the earth to release hot brine, which produces steam to drive turbines.
These plants emit about 99% less carbon dioxide than fossil fuel-based power, according to the U.S. Energy Information Administration.
BY THE NUMBERS
Global geothermal capacity stood at 15.4 GW at the end of 2024, led by the United States, Indonesia and the Philippines, the MNRE said.
India aims to contribute to this growth through 100% foreign direct investment, concessional loans and international collaborations, according to the policy document.
The policy supports geothermal projects for up to 30 years, with extensions based on resource availability, the MNRE said.
Source Name : Economic Times