Transmark granted geothermal exploration concession Peumayén in southern Chile
Transmark Chile has been greanted a geothermal exploration licenses at Peumayén within the Tolhuaca Geothermal Field, in the La Araucania region in Southern Chile.
By official decree published the 1st of February 2018, the Chilean Energy Ministry grants Transmark Chile SpA a Geothermal Exploration Concession in the area known as “Peumayén” (meaning “The Dream Place” in Mapudungun language) located in the Quilaco district of the Biobío Region and the Curacautín district of the La Araucania Region, southern Chile.
Within the Peumayén Concession lies the Tolhuaca Geothermal Field, which has been widely studied since early 2000’s, with a full-size exploration well drilled and steam production tested to an equivalent in power of 12 MWe. Transmark Chile intends to conduct additional exploration studies and expand the current knowledge of the area to define the extent of the reservoir and the potential for base-load renewable power generation.
Geothermal power has great potential to help Chile in meeting its sustainable energy ambitions. At this point in time, geothermal energy is the only proven renewable power source in Chile able to deliver power 24/7, whenever it is required. Other renewable sources, such as hydro, solar PV and wind, are intermittent and are prone to great daily- and seasonal variations. To compensate for this, backup power is delivered by mainly fossil fuel sources, with adverse effects on the environment.
Fortunately, there are great opportunities in Chile to increase geothermal power production and Transmark Chile proudly takes on the challenge to develop the geothermal resources in Peumayén.
Source: Transmark Renewables