The Mexican division of Switzerland-based
is exploring the potential of taking a stake in what would be the first private geothermal project in Mexico.
Based on an interview with the firm's managing director Jorge Gage, BNamericas reports the plant is expected to have a capacity of 11 MW in the first of its six stages.
The geothermal brine would be used in a binary cycle geothermal plant rather than flash steam, the most common type of geothermal plant, the report said.
"[Binary cycle] is going to dominate the geothermal world in the coming years. Today [Mexican state power company] CFE's programmes are focused on the reconversion of flash turbines to binary turbines," said Gage.
GreenTEK Ventures aims to invest $100mn in equity over the next ten years and is also evaluating three other renewable energy projects in Mexico, with a total capacity of over 75 MW.