To a company from New Zealand
Chile awards concession to exploit geothermal energy in the south
Through its subsidiary GGE Chile, the company GeoGlobal energy will invest US$ 226 million to undertake drilling activities and to build and operate a system to extract and turn geothermal fluids into electricity.
Wednesday, April 07, 2010
The Chilean Mining Ministry has just awarded the company GeoGlobal Energy of New Zealand a concession of 7,800 hectares in the area of San Gregorio
recent years Chile
has systematically staked its bets on the need to diversify the energy matrix,
which is currently very heavily
dependent on hydroelectric capacities.
this way, the authorities - aware of the need to explore new sources that are
in line with the economic growth
experienced over the last two decades - have reinforced Chile’s energy
capacity with research to foster the use of bio-fuels, in addition to
choosing wind power as a new resource in several cases.
further foster this reality, the Chilean Mining
Ministry has just awarded the
company GeoGlobal Energy of New
Zealand a concession of 7,800 hectares in the area of San
Gregorio, which is located between the Bío Bío and Araucanía Regions.
ministry informed of the operation in a press release published in the Official Gazette, which states that the company’s Chilean branch
GGE Chile Spa will have to invest US$
226 million over the next three years.
money will specifically be allocated to financing the tasks of drilling, building, commissioning and operating a system
for extracting, creating, and turning thermal
fluids into electricity.
addition, it states that the company will have to build two geothermal plants in the area, where the inspections have been
undertaken since 2004, one with 9.4 MW capacity for an investment of US$ 38.3 million and another with a
capacity of 70 MW that will involve a total investment of US$ 187.7 million.
should be noted that over the last few years the energy issue in the country
has been a matter of concern, interest and development among the population. This
was why the Michelle Bachelet
administration, which handed over power a few days ago
to Sebastián Piñera, created the Energy Ministry, an institution that will determine
the specific way to the actors responsible for the operation and supply of the
country’s energy system.