This year’s instalment of the forum will be held on 9 February 2011 at the Ritz-Carlton Hotel in New York City’s Battery Park.
“The first decades of the 21st century are rapidly becoming a new era of geothermal transformation. Nations all over the world are eagerly exploring their geothermal resources,” said President Grímsson.
“There is indeed already a race on for access to experts, engineering companies and those with technological know-how,” he continued. “It is of utmost importance for the United States to be in the forefront of that race, to maintain a position of leadership; not just for the benefit of the American economy but also in order to demonstrate excellence in a century which will see clean energy as a key to successful global future.”
The GEA Finance Forum, now in its third year, brings together top experts and major players in geothermal development and finance. With new geothermal projects in 2011 expected to bring over $2 billion in new capital investment, the association believes this year’s finance forum is particularly important.
“The opportunity for geothermal developers to meet with New York’s financial community is vital as we continue to show that geothermal energy is a reliable and economically viable renewable power source,” said GEA Executive Director Karl Gawell. “So many projects are being developed across the nation that there is a golden opportunity for investors to be a part of this rapidly growing industry.”
Aside from new projects, around 500 to 700 MW of existing power projects are expected to enter their final construction phase, adding approximately 3,000 construction jobs and bringing a surge of new geothermal power online.
“The market for geothermal power in the United States is growing at a tremendous rate; The amount of new projects makes it imperative that we expand our efforts to participate in the financing of new development here,” said Arni Magnusson, Executive Director - International Industries, Islandsbanki.
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