Technology Overview

Geothermal power is a technology that generates electricity by harnessing thermal energy from within the Earth, using natural steam or hot water to drive turbines. This energy originates from the Earth’s internal heat and can be exploited in areas with suitable geological conditions.

Common configurations include dry steam plants, flash steam plants, and binary cycle plants, with binary cycle systems enabling the use of lower-temperature resources and expanding the applicability of the technology.

Technical Characteristics

The nominal net electrical efficiency of geothermal power is approximately 10%, due to temperature limitations of geothermal resources compared to conventional thermal power. However, geothermal power has a high capacity factor and can operate continuously, similar to baseload power, as it is not dependent on weather conditions.

In addition, geothermal power has low greenhouse gas emissions and can provide stable electricity over long periods.

Investment costs are approximately 5.85 million USD/MW, with exploration and drilling accounting for a significant share and posing high risks. Despite high upfront costs, geothermal power benefits from low operating costs and long asset lifetimes. In the energy transition, it plays an important role in providing low-emission baseload power to complement variable renewable energy sources.

Application in Vietnam

In Vietnam, geothermal power has not yet been widely deployed and remains at the stage of research and resource assessment. Its development depends on the availability of suitable geothermal resources and geological conditions