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5 Challenges to Geothermal Development The decision to develop a geothermal resource is a big one, particularly for a developing country which typically cannot afford to finance the upfront exploration drilling costs, and the development costs on its own. Apart from needing an accessible resource at sufficient depths, the resource itself must be exploitable at an affordable cost, and the resulting cost of production must be cheaper than, or on par with fossil fuel-generated (or hydro-generated) power, in order to ensure participation in the market. El Salvador has faced several challenges during the development of its geothermal sector. We now consider these challenges from a socio-political, economic, technical, and environmental perspective. 5.1 Socio-political and Economic challenges Civil War 1980-1992 A decade-long civil war in El Salvador from 1980-1992 had a devastating impact on the country’s economy. It is estimated that the losses due to damaged infrastructure, declines in production capability, and reduced export earnings reach $2.2 billion. More importantly, the civil war caused severe damage to electricity transmission lines, which contributed to overuse of geothermal power plants. In addition, this socio-political civil conflict seriously retarded the development of the geothermal sector, decelerating its advancement over that time period. All investment in geothermal projects was halted, and the development of the Berlín geothermal field was stalled for more than 10 years. The unstable economic and political climate that the civil war created made it difficult for El Salvador to attract foreign investment from both private investors and international donors, who felt that the risks were too high – they had little confidence in the country’s ability to service any new debt. Furthermore, during that decade, Latin America as a whole was experiencing a serious economic crisis, with GDP falling consistently from 1980 to 1989. After the civil war ended in 1992, financing for geothermal projects, particularly from multilateral organisations, was more readily available. In 1994, the InterAmerican Development Bank (IADB) and the Overseas Economic Cooperation Fund (OECF) of Japan financed over 80% of the $332 million Electric Power Sector Program. Components of this plan included the Spring 2004 The Geothermal Energy Industry of El Salvador 13 Janelle PrevostPDF Image | Geothermal Energy Industry of El Salvador
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