The continuous increase in energy consumption represents a constant challenge in ensuring an adequate amount of production capacity that will meet this demand. So far, energy requirement was met with conventional sources which resulted in heightened intensity of climate changes and clinging dependency on sources which are not globally available. As a solution to this problem, there is an urging requirement for rapid energy transition in which usage of renewable energy sources is prioritized. Apart from hydro, wind and solar energy whose technological development and capacity construction gained on popularity, geothermal energy sources have emerged. These sources can be used in production of both thermal and electrical energy which, if connected with global availability, allows wide application and can be used to satisfy continuous increase in energy consumption. This master thesis addresses key aspects of geothermal power plants whose application is expected in Croatia in upcoming period. Additionally, it describes a wide range of potential industrial usage as well as production of electricity and thermal energy using various, commercially available, technologies. Other than that, there is a showcase of results of a simulated binary geothermal power plant, with explained mathematical equations used to describe different parts of plant. Lastly, simulation results are presented for steady-state conditions and dynamics responses with variable input parameters.