| Abstract |
With energy security and climate change as the backdrop, there is an urgent need to diversify national and international energy portfolios to include renewable and near-zero emission generating energy sources and technologies. This paper provides a preliminary concept and discussion on a current project, “Advancing Geothermal Energy – Opportunities, Options and Strategies”. The project is due for completion in June 2008. In this paper we attempt to provide a clear description of the project. This includes key theoretical frameworks and concepts being used within the project and commentary on preliminary project findings. These findings include the emerging major factors and uncertainties facing the geothermal industry. We propose that the combined use of new theoretical frameworks and leading-edge concepts that incorporate uncertainty and dynamism can yield significant insight for parties interested in geothermal energy, in particular energy players and geothermal players. This insight holds the potential for players to make significantly enhanced strategic decisions, undertake an enlightened management of options and understand the relevant uncertainties and shaping factors within which the options are contextualised. In summary, by moving beyond technical focus and traditional strategic approaches, geothermal companies can advance their commercial interests and maximise the likelihood of success in an environment of high uncertainty and rapid change. |