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Hot Rock Ltd. seeking partner for Achumani project in Peru

Apachetas - Inca Wishing Stones, Peru (source: flickr/ DerekL, creative commons)
Alexander Richter 29 Nov 2012

Hot Rock Ltd. is looking at potential investment of $10 million each for its Achumani project and the Quella Apacheta project in Peru. While the company develops the Achumani project on its own, it has a JV with Philippines EDC for the Quella Apacheta project.

As reported previously here on ThinkGeoEnergy, Australian geothermal developer Hot Rock Ltd. in a JV partnership with Philippines’ Energy Development Corp. (EDC) are exploring a potential geothermal power project at Quella Apacheta in Peru.

Hot Rock also is looking at the Achumani project, but this without involvement of EDC.

The company is now planning to invest $10 million for each project. When the company completes chemical studies at the Achumani project, Hot Rock plans to drill three geothermal wells to a depth of 1,500 meters.

In order to develop the project, the company searches for a partner, that it believes will find it easier to commit as it will have defined the available resources for development of the plant after initial drilling.

Source: Bloomberg