Alterra, EDC could produce power in Chile as early as 2017
The Mariposa geothermal power project south of Santiago in Chile, a JV of Canadian Alterra Power and Philippine's EDC, could start producing power as early as 2017 when everything goes according to plan.
As early as 2017, the recently formed JV between Magma Energy Chile (Alterra Power) and Philippine’s Energy Development Corp. (EDC) could produce power from a geothermal power plant.
2017 is the most optimistic date, which could also go into 2018, for the Mariposa project of both companies in the south of Santiago, the capital of Chile.
To reach a stage where the project could be bankable, both parties will have to invest around $58 million.
The project now plans to build new roads and drill pads and drilling of production wells could start in late 2014. Earlier exploration wells drilled by Alterra have identified a potential of up to 300 MW of geothermal power generation capacity.
There plans of gradual development in 25 MW increments. The Mariposa project is located close to a planned nearby transmission grid, which is a great advantage. The new transmission line which will be 15 km away from Mariposa will connect a planned 150 MW hydroelectric plant at Los Condores.