QAZAQ GREEN.  Latin America holds an estimated geothermal potential of up to 70 gigawatts (GW), yet less than 6% of that potential has been developed so far. The region currently has just over 1.8 GW of installed geothermal power capacity, representing roughly 11% of global geothermal capacity.

As countries look to strengthen energy security and reduce their dependence on imported fuels, today's geopolitical uncertainty has laid bare just how volatile energy markets can be. Against this backdrop, geothermal energy is increasingly being recognized as a strategic resource capable of delivering reliable, round-the-clock renewable power.

To identify the gaps and opportunities involved in scaling up geothermal energy across the region, the International Renewable Energy Agency (IRENA), the Global Geothermal Alliance (GGA), and the Government of El Salvador convened a two-part webinar series in July.

Built around two complementary themes — geothermal power generation and the direct use of geothermal applications — the series showed how geothermal energy can simultaneously strengthen energy security, accelerate the clean energy transition, and create new opportunities for sustainable economic development across Latin America.

El Salvador's experience already illustrates how geothermal energy can contribute to both energy security and economic resilience. Geothermal power already supplies around 21% of the country's electricity generation and remains a central pillar of its strategy to diversify energy sources and drive economic growth.

In El Salvador, experience has also shown how geothermal development can benefit local communities well beyond electricity generation — powering food processing, agricultural applications, and community-based enterprises.

Opening the webinar on behalf of the government of El Salvador, H.E. Vanessa Interiano, Coordinator for International Energy Affairs and Permanent Representative of El Salvador to IRENA, said: "We are convinced that geothermal energy represents much more than a source of power. It represents an opportunity to strengthen the energy sovereignty of our countries, promote sustainable development, and build a more resilient future for the next generations."

During the discussions, participants agreed that the challenge is no longer identifying geothermal resources, but creating the conditions needed to turn those resources into commercially viable projects. As Gurbuz Gonul, Director for Country Engagement and Partnerships at IRENA, put it: "The challenge is no longer whether geothermal resources exist; it is how to transform those resources into bankable projects that deliver energy security, economic opportunity, and long-term development benefits."

International financial institutions taking part in the webinar highlighted how concessional funding, risk-sharing mechanisms, and public-private partnerships can help countries reduce exploration risk and attract greater private-sector participation in geothermal development.

Participants broadly agreed that Latin America's path toward stronger, geothermal-powered energy security will require coordinated action from governments, financial institutions, industry, and local communities. The webinar concluded by highlighting a set of key priorities for accelerating geothermal deployment across the region: reducing exploration risk through innovative mechanisms and risk-sharing facilities to unlock private investment; building stronger regulatory and institutional frameworks that give investors and project developers greater clarity and confidence; integrating direct-use applications into geothermal planning from the outset, so that these resources deliver benefits beyond electricity generation alone; investing in technical capacity, knowledge exchange, and regional cooperation to speed up project development and share lessons across countries; and engaging local communities early, so that geothermal development supports local priorities and delivers lasting social and economic benefits.