This report analyzes the worldwide markets for Geothermal Energy in MegaWatts. The report provides separate comprehensive analytics for the US, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for each region for the period  2007 through 2015. Also, a six-year historic analysis is provided for these markets. The report profiles 95 companies including major Geothermal Energy Producers such as CalEnergy Generation, Calpine Corporation, Chevron Corporation, Chevron Geothermal Philippines Holdings, Inc., Davenport Power, LLC, Enel North America, Inc., Energy Development Corporation, Florida Power & Light Company, Green Rock Energy Limited., MidAmerican Energy Holdings Company, Nevada Geothermal Power, Inc., Northern California Power Agency, Petratherm, Ltd., PT Geo Dipa Energi, PT Pertamina Geothermal Energy, Ram Power, Corp., Reykjavik Energy, Sierra Geothermal Power Corp., Terra-Gen Power, LLC, and Vulcan Power Company. Key Suppliers of Geothermal Energy Equipment also discussed in the report include Alstom Power, Ansaldo Energia , ClimateMaster, Inc., Econar Geosystems, LLC, Florida Heat Pump, Fuji Electric Systems Co., Ltd., Geothermal Development Associates, Mitsubishi Heavy Industries, Ltd., Nuovo Pignone, Ormat Technologies, Inc., Toshiba Power Systems Company, and Waterfurnace International, Inc.  Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

TABLE OF CONTENTS 

GEOTHERMAL ENERGY								MCP-6267
A GLOBAL STRATEGIC BUSINESS REPORT


                                         CONTENTS


  I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

      Study Reliability and Reporting Limitations                       I-1
      Disclaimers                                                       I-2
      Data Interpretation & Reporting Level                             I-3
       Quantitative Techniques & Analytics                              I-3
      Product Definition and Scope of Study                             I-3


 II. EXECUTIVE SUMMARY

  1. INDUSTRY OVERVIEW                                                  II-1
      Geothermal Energy: Some Tidbits                                   II-1
      Current & Future Analysis                                         II-1
      Geothermal Potential                                              II-1
      Current Status                                                    II-2
      Market Drivers                                                    II-2
       Demand for Renewable Energy                                      II-2
        Climate Change                                                  II-2
       High Availability                                                II-2
       Government Incentives                                            II-2
       Emergence of Novel Direct-Use Technologies                       II-2
      Hindrances to Further Development and Deployment of Geothermal
       Energy                                                           II-3
       Investment Uncertainty                                           II-3
       High Risk Exploration Phase                                      II-3
       Geographic Distribution & Transmission                           II-3
       Water: A Limited Resource                                        II-3
       Advancements in Geothermal Technology                            II-3
        Exploration                                                     II-4
        Drilling                                                        II-4
        Power Plants                                                    II-4
      Environmental Influence                                           II-4
       Emissions                                                        II-4
       Heavy Metals                                                     II-5
      Economic Viability of Geothermal Energy                           II-5

  2. GLOBAL MARKET ANALYSIS                                             II-7
      Geothermal Energy – A Bright Future                               II-7
      Clean Energy Investments                                          II-7
      Geothermal Energy Offers Sustainable and Economically Viable
       Alternative                                                      II-7
      I-GET – European Project with Global Reach                        II-8
      Demand for Geothermal Energy Rises                                II-8
      Global Potential and Overview of Geothermal Energy                II-9
       Electricity Generation                                           II-9
        Table 1: Global Geothermal Production (2008): Percentage
        Breakdown of Electricity Generated from Geothermal Energy by
        Country – US, The Philippines, Mexico, Indonesia, Italy and
        Others (includes corresponding Graph/Chart)                     II-9
       Direct-Use                                                       II-10
      Geothermal Energy to Expand Market Share                          II-10
      Geothermal Energy Development Lags Other Renewable Energy Sources II-11

  3. MARKET ANALYSIS BY SELECT REGIONS                                  II-12
      Geothermal Energy in Europe and Central Asia                      II-12
      Geothermal Energy Potential in India                              II-12
       Geothermal Companies in India                                    II-12
      Indonesia – A Sneak Peak                                          II-12

  4. PRODUCT OVERVIEW                                                   II-14
      A Snapshot                                                        II-14
      Background                                                        II-14
      Brief History of Geothermal Production                            II-14
      Ancient Uses                                                      II-15
      Modern Uses                                                       II-15
      Applications                                                      II-15
      Alternative Uses                                                  II-15
       Benefits and Drawbacks                                           II-16
      Cost Factor                                                       II-16
       Cost-Per-KWh Data for Geothermal Energy                          II-16
        Table 2: Geothermal Competitive Power on US$-per-kW Basis       II-17
      Classification of Geothermal Energy Sources                       II-17
      Prerequisites for Usable Geothermal Resources                     II-17
      Traditional Geothermal Energy                                     II-18
      Geothermal Plants                                                 II-18
      Geothermal Heat Pumps                                             II-18
       Types of GHP Systems                                             II-19
      Enhanced Geothermal Systems (EGS)                                 II-19
      Techniques for Extracting Geothermal Energy                       II-19
       Dry Steam                                                        II-19
       Flash Steam                                                      II-19
       Binary Cycle                                                     II-20
       Flash/Binary Combined Cycle                                      II-20
       Emerging Technologies                                            II-20
        Enhanced Geothermal System/Hot Dry Rock                         II-20
        Kalina System/Mixed Working Fluid                               II-20
        Supercritical Cycle                                             II-21
      Geothermal Electricity Generation                                 II-21
       Present Technology                                               II-21
       Advanced Heat Extraction Technology                              II-21
        Geothermal Electricity Generation via Advanced Extraction
         Technology                                                     II-21
      Comparative Analysis of Renewable Energy Sources                  II-22
       Comparison Chart of Renewable Energy Sources                     II-22
       Table 3: Estimated Land Requirement in Square Meters (m2) for
       Geothermal and Other Power Plants                                II-23

  5. PRODUCT INNOVATIONS/ INTRODUCTIONS                                 II-24
      Shasta Industries, Shea Homes(R) and Waterfurnace(R) International
       Develop BLU eQ™                                                  II-24
      WaterFurnace Launches Envision™ NSW Series Hydronic Units         II-24
      WaterFurnace Launches Envision™ NDW Series Hydronic Units         II-24
      WaterFurnace Introduces GeoTank line                              II-25

  6. RECENT INDUSTRY ACTIVITY                                           II-26
      IX-Geo and Aurora Energy Ventures Ink Agreement                   II-26
      Nevis Island Administration Extends Time Period for Geothermal
       Project                                                          II-26
      Sierra Geothermal Power Signs MoU with the Da'naxda'xw/
       Awaetlala Nation                                                 II-26
      KUTh Energy Receives License from Vanuatu Government              II-27
      New Units at Lahendong Geothermal Power Plant Commence Production II-27
      Desert Valley Gold Purchases Mineral Rights to Blue Mountain      II-27
      Raser Technologies Inks Agreement with Copper King Mining         II-27
      IX Energy and Legatus6 Ink Agreement                              II-28
      PT PLN Establishes New Subsidiary                                 II-28
      Geysir Green Energy Enhances Stake in Envent                      II-28
      PT Bakrie Power to Construct New Geothermal Power Plant           II-28
      RWE Innogy and Daldrup & Sohne Establish Joint Venture            II-28
      MOL and Green Rock Energy Buyout Enex's Stake in CEGE             II-29
      Enhanced Oil Resources and GreenFire Energy Sign Joint Venture
       Agreement                                                        II-29
      Magma Energy Purchases Minority Stake in HS Orka                  II-29
      Nevada Geothermal Power Establishes Geothermal Power Station      II-30
      PannErgy and Miskolci Hoszolgaltato Establish Joint Venture       II-30
      Standard Steam Trust Purchases Geothermal Acreage                 II-30
      KenGen to Invest in New Power Generation Projects                 II-30
      Arrow Signs MoU with Four Crystal and GTherm                      II-31
      GT Energy Enters into Strategic Alliance with Ballymena
       Borough Council                                                  II-31
      Institutional Investors Acquire Stake in Raser Technologies       II-32
      Raser Enters into Agreement with Consortium                       II-32
      EDC Acquires Geothermal Plants                                    II-32
      Envent Signs Power Purchase Agreement with BILECO                 II-32
      PannErgy Enters into Agreement with Koprovnican Local Council     II-33
      PannErgy Enters into a Joint Venture with Kiskunhalas Local
       Council                                                          II-33
      Aboitiz Power Acquires Tiwi-Makban Plant                          II-33
      Western GeoPower Purchases Geothermal Lease                       II-33
      Alstom to Build Geothermal Power Plant                            II-33
      Petratherm Launches New Phase of Paralana Geothermal Project      II-34
      Geothermal Development Associates Recommissions OEC at Aluto
       Langano Geothermal Plant                                         II-34
      Enel North America Purchases Land Leases from Bureau of Land
       Management                                                       II-34
      Enel Green Power Sets Up New Geothermal Plants                    II-34
      Geysir Green Energy Increases Stake in HS Orka                    II-34
      Ram Power Concludes Business Combination with Western GeoPower
       and Polaris Geothermal                                           II-35
      Geysir Green Energy Sells Stake in Western GeoPower               II-35
      New Hope Acquires Stake in Planet Gas                             II-35
      Planet Gas Limited Acquires Gradient Energy                       II-36
      Ormat Technologies Receives Contract from Banco
       Centroamericano de Integracion Economica                         II-36
      A-Power Inks Agreement with Amraas International for
       Geothermal Plant                                                 II-36
      Raser Technologies Commences Production at Hatch Geothermal
       Power Plant                                                      II-36
      Alter NRG Corp Acquires CleanEnergy Developments                  II-36
      PLN and PT Pertamina to Spin Off PT Geo Dipa Energy               II-37
      Ameresco Geothermal Partners with Molinaro Group                  II-37
      Ormat Industries Expands Production Capacity at Yavne Facility    II-37
      PannErgy Establishes Geothermal Well                              II-37
      EDC Acquires Tongonan and Palinpinon Power Plants                 II-37
      U.S. Geothermal Commences Two Drilling Programs                   II-38
      PT Geo Dipa Energy to Sign Agreement with Bank Negara
       Indonesia led Consortium                                         II-38
      EGS Receives Contract from Energy Development Committee           II-38
      Ecuador to Establish Geothermal Power Plant                       II-38
      PLN Announces Plans for Geothermal Expansion                      II-38
      Sierra to Increase Stake in Cayley Geothermal to 100%             II-39
      Jemez Pueblo Receives Grant from US Department                    II-39
      General Electric Receives Grant from U.S. DOE                     II-39
      Shaanxi Green Energy and Xiong County Launch Geothermal
       District Project                                                 II-39
      Enel to Invest in Geothermal Power                                II-39
      Indie Energy Systems Receives Grant from DOE                      II-40
      Petratherm Geothermal Energy Project Wins REDP Grant              II-40
      G.E. Energy Financial Invests in Wayang Windu Plant               II-40
      Ormat's Subsidiary and Nevada Power Enter Into PPA                II-40
      Nevada Geothermal Power Receives Grant from DOE                   II-40
      Magma Energy to Acquire Stake in HS Orka from Geysir Green Energy II-41
      Leading Geothermal Players Consolidate                            II-41
      Eden Project and EGS Energy Collaborate                           II-41
      Enel North America Purchases Additional Geothermal Leases         II-41
      KUTh Energy Signs MoU with UNELCO                                 II-42
      Raser Technologies Leases Land for Geothermal Projects            II-42
      Amsa Establishes Joint Venture with Enap                          II-42
      Nevada Power and Ormat Nevada Sign Joint Ownership Agreement      II-42
      American Electric Receives Contract from Chevron Geothermal
       Indonesia                                                        II-42
      Raser Technologies Receives Land-Use Approval to Establish
       Geothermal Plant                                                 II-43
      GulfX and Torrens Energy Sign Cooperative Exploration Agreement   II-43
      PT Star Energy to Establish New Units of Wayang Windu
       Geothermal Power Plant                                           II-43
      Western GeoPower Inks Agreement with NCPA                         II-43
      U.S. Geothermal Acquires Geothermal Power Production Rights
       from Empire Geothermal                                           II-44
      Guidance Management and Aragorn Receive Geothermal Energy
       Service Contract                                                 II-44
      Tata Power Buys Minority Stake in Geodynamics                     II-44
      MOL Enters into Joint Venture with Enex and Green Rock Energy
       to Form CEGE                                                     II-44
      Three Firms Receive Contracts from Department of Energy           II-44
      Research Products Takes over Econar Energy Systems                II-45
      Ormat Technologies Expands Olkaria III Geothermal Plant           II-45
      PannErgy Enters into a Joint Venture with Tamasi Municipality     II-45
      West Indies Power to Establish Geothermal Energy Plant in
       Nevis Island                                                     II-45
      Polaris Energy Selects Queiroz Galvao for Geothermal Expansion    II-45
      Encore Energy Systems and Texas LLC, Energy America Geothermal
       Sign License Agreement                                           II-46
      U.S. Geothermal and Gerlach Green Energy Enter into Joint
       Venture Agreement                                                II-46
      AGL Energy Purchases Minority Stake in Torrens Energy             II-46
      Raser Technologies Inks Financing Commitment Mandate with
       Merrill Lynch                                                    II-46
      Enel Group Establishes Enel Green Power                           II-46
      Geothermal Development Associates Signs Contract with PT PAL
       Indonesia                                                        II-47
      Panax Geothermal to Purchase Osiris Energy                        II-47
      MHI Supplies Geothermal Turbines to Reykjavik Energy              II-47
      Ormat Concludes Stage II of Geothermal Power Plant Construction   II-47
      Reykjavik Energy Selects Mitsubishi Heavy Industries for
       Geothermal Plants                                                II-48
      Pacific Gas & Electric Extends Contracts with Calpine             II-48
      Renewable Energy Resources Acquires Minority Interest in
       Geysir Green Energy                                              II-48
      Google.org Invests in Enhanced Geothermal Systems                 II-48

  7. FOCUS ON SELECT GLOBAL PLAYERS                                     II-49
      Geothermal Energy Producers                                       II-49
       CalEnergy Generation (US)                                        II-49
       Calpine Corporation (US)                                         II-49
       Chevron Corporation (US)                                         II-49
        Chevron Geothermal Philippines Holdings, Inc. (The Philippines) II-49
       Davenport Power, LLC (US)                                        II-49
       Enel North America, Inc. (US)                                    II-50
       Energy Development Corporation (The Philippines)                 II-50
       Florida Power & Light Company (US)                               II-50
       Green Rock Energy Limited (Australia)                            II-50
       MidAmerican Energy Holdings Company (US)                         II-51
       Nevada Geothermal Power, Inc. (Canada)                           II-51
       Northern California Power Agency (US)                            II-51
       Petratherm, Ltd. (Australia)                                     II-51
       PT Geo Dipa Energi (Indonesia)                                   II-51
       PT Pertamina Geothermal Energy (Indonesia)                       II-52
       Ram Power Corp. (US)                                             II-52
       Reykjavik Energy (Iceland)                                       II-52
       Sierra Geothermal Power Corp. (Canada)                           II-52
       Terra-Gen Power, LLC (US)                                        II-53
       Vulcan Power Company (US)                                        II-53
      Suppliers of Geothermal Energy Equipment                          II-53
       Alstom Power (France)                                            II-53
       Ansaldo Energia (Italy)                                          II-53
       ClimateMaster, Inc. (US)                                         II-54
       Econar Geosystems, LLC (US)                                      II-54
       Florida Heat Pump (US)                                           II-55
       Fuji Electric Systems Co., Ltd. (Japan)                          II-55
       Geothermal Development Associates (US)                           II-55
       Mitsubishi Heavy Industries, Ltd. (Japan)                        II-56
       Nuovo Pignone (Italy)                                            II-56
       Ormat Technologies, Inc. (US)                                    II-56
       Toshiba Power Systems Company (Japan)                            II-57
       Waterfurnace International, Inc. (US)                            II-57

  8. GLOBAL MARKET PERSPECTIVE                                          II-58
      Table 4: World Recent Past, Current and Future Analysis for
      Geothermal Energy by Geographic Region – US, Japan, Europe,
      Asia-Pacific, Latin America, and Rest of World Markets
      Independently Analyzed with Annual Installed Capacity in
      Megawatts for Years 2007 through 2015 (includes corresponding
      Graph/Chart)                                                      II-58

      Table 5: World Historic Review for Geothermal Energy by
      Geographic Region – US, Japan, Europe, Asia-Pacific, Latin
      America, and Rest of World Markets Independently Analyzed with
      Annual Installed Capacity in Megawatts for Years 2001 through
      2006 (includes corresponding Graph/Chart)                         II-59

      Table 6: World 13-Year Perspective for Geothermal Energy by
      Geographic Region – Percentage Breakdown of Annual Installed
      Capacity for US, Japan, Europe, Asia-Pacific, Latin America,
      and Rest of World Markets for Years 2003, 2009, and 2015
      (includes corresponding Graph/Chart)                              II-60


 III. MARKET

  1. THE UNITED STATES                                                  III-1
      A.Market Analysis                                                 III-1
        Current and Future Analysis                                     III-1
        US Leads Geothermal Production                                  III-1
        Opportunities for Geothermal Market                             III-1
        Challenges for Geothermal Market                                III-2
        Geothermal Energy Industry Holds Bright Prospects               III-2
        State and Federal Policies Propel Geothermal Industry           III-2
        Stimulus Spending Spurs Geothermal Projects                     III-3
        Geothermal Power Holds Promise for Coal Mines                   III-3
         Advantages                                                     III-4
        Progression of New Geothermal Projects                          III-4
         Table 7: US Geothermal Energy Market (2006-2009): Confirmed
         Geothermal Power Projects (includes corresponding
         Graph/Chart)                                                   III-4

         Table 8: US Geothermal Energy Market: Existing Projects by
         State (2009) (includes corresponding Graph/Chart)              III-5
        New Technologies to Drive Future Growth                         III-5
        Direct-use Applications                                         III-5
         Table 9: US Geothermal Energy Market (2009): Percentage
         Breakdown of Geothermal Energy by Direct-use Application –
         Geothermal Heat Pumps, Fish Farming, Bathing & Swimming,
         Individual Space Heating, and Others (includes
         corresponding Graph/Chart)                                     III-5
        Market Outlook                                                  III-6
         Industry Consolidation to Increase                             III-6
        Overview of US Geothermal Industry                              III-6
         Resource Locations, Generation and Consumption                 III-6
         Geothermal Potential                                           III-7
        Industry Regulations                                            III-7
         Renewable Energy Mandates                                      III-7
         US Provides Stimulus to Geothermal Development                 III-7
        Investment Outlook                                              III-8
        Product Launches/Developments                                   III-8
        Strategic Corporate Developments                                III-10
        Key Players                                                     III-18
         CalEnergy Generation                                           III-18
         Calpine Corporation                                            III-18
         Chevron Corporation                                            III-18
         ClimateMaster, Inc.                                            III-19
         Davenport Power, LLC                                           III-19
         Econar Geosystems, LLC                                         III-19
         Enel North America, Inc.                                       III-20
         Florida Power & Light Company                                  III-20
         Florida Heat Pump                                              III-20
         Geothermal Development Associates                              III-21
         MidAmerican Energy Holdings Company                            III-21
         Northern California Power Agency                               III-21
         Ormat Technologies, Inc.                                       III-21
         Ram Power Corp. (US)                                           III-22
         Terra-Gen Power, LLC                                           III-22
         Vulcan Power Company                                           III-22
         Waterfurnace International, Inc.                               III-23
      B.Market Analytics                                                III-23
        Table 10: US Recent Past, Current and Future Analysis for
        Geothermal Energy with Annual Installed Capacity in
        Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-23

        Table 11: US Historic Review for Geothermal Energy with
        Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-24

  2. JAPAN                                                              III-25
      A.Market Analysis                                                 III-25
        Current and Future Analysis                                     III-25
        Geothermal Resources Remain Untapped                            III-25
        Key Players                                                     III-25
         Fuji Electric Systems Co., Ltd.                                III-25
         Mitsubishi Heavy Industries, Ltd.                              III-26
         Toshiba Power Systems Company                                  III-26
      B.Market Analytics                                                III-27
        Table 12: Japanese Recent Past, Current and Future Analysis
        for Geothermal Energy with Annual Installed Capacity in
        Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-27

        Table 13: Japanese Historic Review for Geothermal Energy
        with Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-27

  3. EUROPE                                                             III-28
      A.Market Analysis                                                 III-28
        Current and Future Analysis                                     III-28
        Geothermal Energy Getting into Groove                           III-28
      B.Market Analytics                                                III-29
        Table 14: European Recent Past, Current and Future Analysis
        for Geothermal Energy by Geographic Region – Iceland, Italy,
        and Rest of Europe Markets Independently Analyzed with
        Annual Installed Capacity in Megawatts for Years 2007
        through 2015 (includes corresponding Graph/Chart)               III-29

        Table 15: European Historic Review for Geothermal Energy by
        Geographic Region – Iceland, Italy, and Rest of Europe
        Markets Independently Analyzed with Annual Installed
        Capacity in Megawatts for Years 2001 through 2006 (includes
        corresponding Graph/Chart)                                      III-29

        Table 16: European 13-Year Perspective for Geothermal Energy
        by Geographic Region – Percentage Breakdown of Annual
        Installed Capacity for Iceland, Italy, and Rest of Europe
        Markets for Years 2003, 2009, and 2015 (includes
        corresponding Graph/Chart)                                      III-30

  3a. ICELAND                                                           III-31
      A.Market Analysis                                                 III-31
        Current and Future Analysis                                     III-31
        Geothermal Market                                               III-31
        Strategic Corporate Developments                                III-31
        Reykjavik Energy – A Key Player                                 III-33
      B.Market Analytics                                                III-33
        Table 17: Iceland Recent Past, Current and Future Analysis
        for Geothermal Energy with Annual Installed Capacity in
        Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-33

        Table 18: Iceland Historic Review for Geothermal Energy with
        Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-33

  3b. ITALY                                                             III-34
      A.Market Analysis                                                 III-34
        Current and Future Analysis                                     III-34
        The Pioneer in Industrial Exploitation of Geothermal Energy     III-34
        Geothermal Energy Sector to Register Steady Growth Rate         III-34
        Strategic Corporate Development                                 III-34
        Key Players                                                     III-35
         Ansaldo Energia                                                III-35
         Nuovo Pignone                                                  III-35
      B.Market Analytics                                                III-36
        Table 19: Italian Recent Past, Current and Future Analysis
        for Geothermal Energy with Annual Installed Capacity in
        Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-36

        Table 20: Italian Historic Review for Geothermal Energy with
        Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-36

  3c. REST OF EUROPE                                                    III-37
      A.Market Analysis                                                 III-37
        Current and Future Analysis                                     III-37
        Geothermal Energy – An Overview                                 III-37
         Feed-in Tariffs Spur Growth                                    III-37
         Geothermal Electricity Sector Witnessing Positive Growth in
          Germany                                                       III-37
        Strategic Corporate Developments                                III-38
        Alstom Power (France) – A Key Player                            III-40
      B.Market Analytics                                                III-41
        Table 21: Rest of Europe Recent Past, Current and Future
        Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-41

        Table 22: Rest of Europe Historic Review for Geothermal
        Energy with Annual Installed Capacity in Megawatts for Years
        2001 through 2006 (includes corresponding Graph/Chart)          III-41

  4. ASIA-PACIFIC                                                       III-42
       Market Analysis                                                  III-42
        Current and Future Analysis                                     III-42
        Table 23: Asia-Pacific Recent Past, Current and Future
        Analysis for Geothermal Energy by Geographic Region –
        Indonesia, New Zealand, Philippines, and Rest of
        Asia-Pacific Markets Independently Analyzed with Annual
        Installed Capacity in Megawatts for Years 2007 through 2015
        (includes corresponding Graph/Chart)                            III-42

        Table 24: Asia-Pacific Historic Review for Geothermal Energy
        by Geographic Region – Indonesia, New Zealand, the
        Philippines, and Rest of Asia-Pacific Markets Independently
        Analyzed with Annual Installed Capacity in Megawatts for
        Years 2001 through 2006 (includes corresponding Graph/Chart)    III-43

        Table 25: Asia-Pacific 13-Year Perspective for Geothermal
        Energy by Geographic Region – Percentage Breakdown of Annual
        Installed Capacity for Indonesia, New Zealand, the
        Philippines, and Rest of Asia-Pacific Markets for Years
        2003, 2009, and 2015 (includes corresponding Graph/Chart)       III-43

  4a. INDONESIA                                                         III-44
      A.Market Analysis                                                 III-44
        Current and Future Analysis                                     III-44
        Increasing Market Investments                                   III-44
        Strategic Corporate Developments                                III-44
        Key Players                                                     III-47
         PT Pertamina Geothermal Energy                                 III-47
         PT Geo Dipa Energi                                             III-47
      B.Market Analytics                                                III-47
        Table 26: Indonesian Recent Past, Current and Future
        Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-47

        Table 27: Indonesian Historic Review for Geothermal Energy
        with Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-48

  4b. NEW ZEALAND                                                       III-49
      A.Market Analysis                                                 III-49
        Current and Future Analysis                                     III-49
        Strategic Corporate Development                                 III-49
      B.Market Analytics                                                III-50
        Table 28: New Zealand Recent Past, Current and Future
        Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-50

        Table 29: New Zealand Historic Review for Geothermal Energy
        with Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-50

  4c. THE PHILIPPINES                                                   III-51
      A.Market Analysis                                                 III-51
        Current and Future Analysis                                     III-51
        Overview                                                        III-51
        Geothermal Installed Capacity to Increase                       III-51
        Overview of Electricity Generation                              III-51
         Table 30: Electricity Production in the Philippines
         (2005-2008): Percentage Breakdown by Energy Resource –
         Natural Gas, Coal, Geothermal, Hydro, and Others (includes
         corresponding Graph/Chart)                                     III-52

         Table 31: Electricity Sales in the Philippines (2005-2008):
         Percentage Breakdown by Sector – Industrial, Residential,
         Commercial, and Others (includes corresponding Graph/Chart)    III-52
        Strategic Corporate Developments                                III-53
        Key Players                                                     III-54
         Chevron Geothermal Philippines Holdings, Inc.                  III-54
         Energy Development Corporation                                 III-54
      B.Market Analytics                                                III-55
        Table 32: The Philippines Recent Past, Current and Future
        Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-55

        Table 33: The Philippines Historic Review for Geothermal
        Energy with Annual Installed Capacity in Megawatts for Years
        2001 through 2006 (includes corresponding Graph/Chart)          III-55

  4d. REST OF ASIA-PACIFIC                                              III-56
      A.Market Analysis                                                 III-56
        Current and Future Analysis                                     III-56
        Focus on Select Markets                                         III-56
         Australia                                                      III-56
          Geothermal Market at a Glance                                 III-56
          Renewable Energy Receives Support                             III-56
          Challenges for Geothermal Energy                              III-57
         India                                                          III-57
          Geothermal Potential Unexplored                               III-57
         Malaysia                                                       III-57
         Papua New Guinea                                               III-57
        Strategic Corporate Developments                                III-58
        Key Players                                                     III-60
         Green Rock Energy Limited (Australia)                          III-60
         Petratherm, Ltd. (Australia)                                   III-60
      B.Market Analytics                                                III-61
        Table 34: Rest of Asia-Pacific Recent Past, Current and
        Future Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-61

        Table 35: Rest of Asia-Pacific Historic Review for
        Geothermal Energy with Annual Installed Capacity in
        Megawatts for Years 2001 through 2006 (includes
        corresponding Graph/Chart)                                      III-61

  5. LATIN AMERICA                                                      III-62
      A.Market Analysis                                                 III-62
        Current and Future Analysis                                     III-62
        Active Investment in the Geothermal Energy Sector               III-62
      B.Market Analytics                                                III-63
        Table 36: Latin American Recent Past, Current and Future
        Analysis for Geothermal Energy by Geographic Region – Costa
        Rica, El Salvador, Mexico, and Rest of Latin American
        Markets Independently Analyzed with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-63

        Table 37: Latin American Historic Review for Geothermal
        Energy by Geographic Region – Costa Rica, El Salvador,
        Mexico, and Rest of Latin American Markets Independently
        Analyzed with Annual Installed Capacity in Megawatts for
        Years 2001 through 2006 (includes corresponding Graph/Chart)    III-63

        Table 38: Latin American 13-Year Perspective for Geothermal
        Energy by Geographic Region – Percentage Breakdown of
        Installed Capacity for Costa Rica, El Salvador, Mexico, and
        Rest of Latin American Markets for Years 2003, 2009, and
        2015 (includes corresponding Graph/Chart)                       III-64

  5a. COSTA-RICA                                                        III-65
      A.Market Analysis                                                 III-65
        Current and Future Analysis                                     III-65
        Strategic Corporate Development                                 III-65
      B.Market Analytics                                                III-66
        Table 39: Costa Rica Recent Past, Current and Future
        Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-66

        Table 40: Costa Rica Historic Review for Geothermal Energy
        with Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-66

  5b. EL SALVADOR                                                       III-67
       Market Analysis                                                  III-67
        Current and Future Analysis                                     III-67
        Table 41: El Salvador Recent Past, Current and Future
        Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-67

        Table 42: El Salvador Historic Review for Geothermal Energy
        with Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-67

  5c. MEXICO                                                            III-68
      A.Market Analysis                                                 III-68
        Current and Future Analysis                                     III-68
        Overview                                                        III-68
        Strategic Corporate Development                                 III-68
      B.Market Analytics                                                III-69
        Table 43: Mexican Recent Past, Current and Future Analysis
        for Geothermal Energy with Annual Installed Capacity in
        Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-69

        Table 44: Mexican Historic Review for Geothermal Energy with
        Annual Installed Capacity in Megawatts for Years 2001
        through 2006 (includes corresponding Graph/Chart)               III-69

  5d. REST OF LATIN AMERICA                                             III-70
      A.Market Analysis                                                 III-70
        Current and Future Analysis                                     III-70
        Strategic Corporate Developments                                III-70
      B.Market Analytics                                                III-71
        Table 45: Rest of Latin America Recent Past, Current and
        Future Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-71

        Table 46: Rest of Latin America Historic Review for
        Geothermal Energy with Annual Installed Capacity in
        Megawatts for Years 2001 through 2006 (includes
        corresponding Graph/Chart)                                      III-72

  6. REST OF WORLD                                                      III-73
      A.Market Analysis                                                 III-73
        Current and Future Analysis                                     III-73
        Focus on Select Market                                          III-73
         Canada                                                         III-73
          Geothermal Energy Market Set to Grow                          III-73
          Subsidies Propping up Geothermal Heat Pumps                   III-73
        Strategic Corporate Developments                                III-73
        Key Players                                                     III-77
         Nevada Geothermal Power, Inc. (Canada)                         III-77
         Sierra Geothermal Power Corp. (Canada)                         III-77
      B.Market Analytics                                                III-78
        Table 47: Rest of World Recent Past, Current and Future
        Analysis for Geothermal Energy with Annual Installed
        Capacity in Megawatts for Years 2007 through 2015 (includes
        corresponding Graph/Chart)                                      III-78

        Table 48: Rest of World Historic Review for Geothermal
        Energy with Annual Installed Capacity in Megawatts for Years
        2001 through 2006 (includes corresponding Graph/Chart)          III-78


 IV. COMPETITIVE LANDSCAPE

     Total Companies Profiled: 95 (including Divisions/Subsidiaries - 103)

     ------------------------------------------
     Region/Country                     Players
     ------------------------------------------
     The United States                    39
     Canada                                7
     Japan                                 5
     Europe                               19
      France                               1
      Germany                              2
      The United Kingdom                   2
      Italy                                3
      Rest of Europe                      11
     Asia-Pacific (Excluding Japan)       29
     Africa                                2
     Latin America                         2
     ------------------------------------------