The Dubrovnik Geothermal Declaration
The Dubrovnik Geothermal Declaration is a forward-looking framework intended to translate shared political, technical, and financial priorities into concrete regional action, giving Three Seas countries a common platform to accelerate geothermal investment, reduce project risks, harmonize permitting, mobilise international financial institutions, and turn geothermal potential into a bankable infrastructure pipeline.
The declaration sets out three key strategic commitments:
- Investment acceleration and project pipeline (mitigating financial risks), which includes doubling current investment levels by 2030 and the ‘TSI 10’ to showcase and bring attention to a list of ten projects in various stages of development.
- Regulatory harmonization (mitigating permitting and regulatory risks), focusing on faster permitting, standardized offtake agreements, and removal of preferential treatment for fossil fuels in heating and electricity markets.
- Innovation and infrastructure integration (mitigating technological and connectivity risks), including a proposed transatlantic next-generation geothermal pilot by 2029 and positioning geothermal as foundational infrastructure for regional “energy highways.”
The Dubrovnik Geothermal Declaration is intended not as a symbolic statement, but as a practical policy and investment roadmap. It lays the groundwork for geothermal to become a key pillar of the Slovak Presidency of the Three Seas Initiative agenda, ensuring continuity in implementation.
