New study too look at ways to promote geothermal drilling sector in Chile
Icelandic engineering group Mannvit, its Chilean subsidiary, local partners and Fundación Chile are going to work on a comprehensive study of the Chilean geothermal drilling sector for the World Bank.
Reported today, Mannvit, it’s Chile subsidiary GTN Latin America (GTNLA), local subcontractors and Fundación Chile have won a contract by the World Bank Group for “Technical Assistance for Geothermal Development in Chile”. The project is for a comprehensive study of the Chilean drilling sector, including conducting a technical and economic analysis of alternatives to develop the geothermal sector at lower prices, doing a comparative analysis of other established geothermal drilling markets, and recommendations on how to increase the efficiency of the Chilean geothermal drilling sector to lower the hurdles for the geothermal developers in Chile.
The contract is supported by the Chilean Ministry of Energy and the World Bank. Ms. Ana Maria Ruz, Project leader in Santiago said the team is delighted to get the chance to assist the World Bank Group and local authorities in advancing the geothermal sector in Chile.
The international benchmarking study will identify experiences to serve as a guide to promote the geothermal drilling sector in Chile. The team will hold workshops and individual meetings with each local developer, with complementary and auxiliary service companies and, with public entities involved, in order to identify their interests, hurdles and to establish the expectation scenario to quantify demand for drilling. Input from local developers will contribute to the analysis of the key drivers leading the high cost in the geothermal drilling market and the solution alternatives to reduce the drilling cost, articulate and stimulate the market.