Origin Energy Invests in Chilean Geothermal

By Admin
As more South American economies grow and move from “developing” to “developed” status, geothermal energy is finally being rec...

 

As more South American economies grow and move from “developing” to “developed” status, geothermal energy is finally being recognized as a viable energy option to satisfy growing electricity demand.  Chile in particular—which lies on the Pacific “Ring of Fire”—is estimated to have as much as 16 gigawatts of geothermal energy resources at its disposal.  This accounts roughly 60 percent of all the geothermal potential in Latin America.

Now, Australian oil and gas exploration company Origin Energy Ltd. is looking to capitalize on Chile’s geothermal energy by buying a 40 percent stake in Energia Andia SA. 

Energia Andina has acquired permits to evaluate eight sites across northern and central Chile for geothermal potential.  The sites cover a total of 553,400 hectares (1.4 million acres) of land. 

SEE OTHER TOP STORIES IN THE WDM CONTENT NETWORK

RENEWABLE GEOTHERMAL PUMPS UP HEAT'S POWER POTENTIAL

TOP TEN: GEOTHERMAL ENERGY LOCATIONS

“It is our view that geothermal can provide large-scale, renewable, baseload energy and Chile has significant potential,” says Origin’s Executive Director Karen Moses.

Origin acquired the 40 percent stake from Chile’s state-owned oil refining company Empresa Nacional del Petroleo for an undisclosed amount.  Antofagasta Plc. Mining company owns the other 60 percent stake in the Energia Andina. 

Share

Featured Articles

Alfa Laval to supply world’s largest green hydrogen plant

The facility is being built in NEOM, the US$500bn futuristic city being developed in Saudi Arabia

COP27 agrees to climate compensation fund

The deal is said to be a historic first in acknowledging the vast inequities of the climate crisis

North America's natural gas can help mitigate energy crisis

In the effort towards decarbonisation, North America could be a key player in providing affordable natural gas, addressing energy security issues

COP27: Egypt and Norway to build 100MW green hydrogen plant

Renewable Energy

Renewable energy company Masdar opens office in Saudi Arabia

Renewable Energy

Ørsted closes US$140m transaction with ECP for US portfolio

Renewable Energy