Chile completes auction of 20 geothermal prospects

Chile has completed the successful public auction of 20 areas for the exploitation of geothermal resources, the country's minister of Energy confirmed.

The areas are located in eight regions of the South American nation, mainly in the central part of Chile. The bidding process reportedly saw 70 tenders from a total of 13 companies.

The total investment will be in the region of $250m and covers an area of approximately one million hectares.

The allocation process began back in September 2010.

According to official estimates, Chile has the potential to generate a minimum of 3500 MW of power from geothermal energy.

For more Geothermal news.

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