A Global Geothermal Alliance (GGA) to boost developments the industry has been launched at COP21.
It aims to achieve a 500% increase in global installed capacity for geothermal power generation and a 200% increase in heating by 2030.
It is led by the International Renewable Energy Agency (IRENA) and more than 40 countries and institutions have joined the initiative so far.
Some of the nations are France, Burundi, Pakistan, Ecuador and Fiji.
The African Development Bank, World Bank and United Nations Environment Programme are some of the organisations that are also part of the alliance.
The GGA stated: “The world contains vast geothermal energy potential, proven across nearly 90 countries but almost 90% of this remains untapped with roughly 12GW installed so far. A geothermal plant provides decades of cost effective power and direct heat.
“While the technology is mature and can significantly contribute to climate change mitigation, its uptake is constrained. Barriers include exploration risks, high upfront development costs, regulatory challenges, limited human resources and low awareness about geothermal energy.”
A Global Solar Alliance was launched at COP21 by India and France.