The Ministry of Energy of Chile has signed a new contract to harness energy from 20 geothermal locations by the year 2012.
The tender for the contract involves 170 geothermal locations, with an aim of increasing the country’s geothermal power to 1,000 MW.
The country is advancing geothermal energy development, hence providing concession of various areas for exploitation. Minister of Energy, Ricardo Raineri, declared the results of the submitted proposals for 20 locations in the Los Rios and Tarapacos regions. Totally, 70 bids were received from 13 local as well as foreign companies.
In addition, Raineri had already announced above 170 concessions for geothermal resource by 2012. For this, the government will invest more than $200 million. The use of geothermal energy resource is a vital element in the newly enacted policy of Chile for fulfilling the increasing energy demand in a sustainable way.
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