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

Data Centre Demand Putting Pressure on Energy Capabilities

Utilities in the US are predicting a tidal wave of demand for data centres thanks to the boom of AI, which, in turn, will dial up the need for electricity

Q&A with Hitachi Energy’s EVP & Head of North America

Anthony Allard, who heads up Hitachi Energy as Executive Vice President and Head of North America, shares why the grid is holding us back from clean energy

OMV Takes Strides in Energy Efficiency & Emissions Reduction

Austrian multinational integrated oil, gas & petrochemical company OMV continues its sustainability mission, and reports Scope 1 & 2 emissions are down 25%

Q&A with RAIN Alliance President and CEO Aileen Ryan

Technology & AI

Who is Greg Joiner, the new Head of Shell Energy?

Oil & Gas

Watershed Workshop at Sustainability LIVE: Net Zero

Sustainability