Chile to invest USD200m in geothermal power

Fri Sep 3 2010, 09:28 AM

The Chilean government plans to invest more than USD200m to support the development of geothermal energy sources. The investment will be made over the next two years, and will see the government grant around 170 concessions by the end of 2013. The government has reportedly granted 30 concessions already for geothermal exploration and development projects.

In June, Chilean energy firm Colburn was reported to be planning to develop around 100MW of geothermal power generating capacity over the next decade. The first is expected to begin operating in 2015. Italian energy firm Enel is also developing a geothermal power project in the north of the country. The plant will have a capacity of around 40MW and is scheduled for completion in 2014.