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Transmark Chile secures six additional exploration concessions in Chile

The city of Antofagasta, Chile (source: flickr/Bracani....Antonio, creative commons)
Alexander Richter 26 Mar 2014

Transmark Chile, a subsidiary of Dutch Transmark Renewables has been granted six new geothermal exploration concessions in Region II of Antofagasta in the north of Chile by the Chilean Ministry of Energy.

In an announcement this week, Transmark Chile, subsidiary of Netherlands based Transmark Renewables, reports that the Chilean Energy Ministry has awarded the company with six new geothermal explorations concessions, located in the II Region of Antofagasta, in the north of Chile.

Completed their internal analysis of the technical and financial capabilities of Transmark Chile, the Chilean government decided to grant the company with the concessions named Láscar, Linzor, Tocor, Del Inca, San Alberto II and San Alberto III, that jointly cover more than 220,000 hectares of the Chilean Altiplano.

Transmark Chile has identified the areas as interesting to further explore. It will start the exploration to verify the potential initially with an extensive fieldwork program, followed by more detailed analysis of the volcanic activity as support of the promising features of geothermal underground systems of these concessions.

Positioned on the “ring of fire”, Chile is one of the most attractive countries for the utilization of geothermal energy worldwide. Currently, Chile is still a net energy importer and the demand is expected to increase over the coming years. The Chilean government has earmarked geothermal energy as one of the key components in order to support this growing domestic energy need.

Taking into account the more advanced projects of Transmark Chile, San Alberto and Licancura III, these six new concessions, underpins the ambition and commitment of the company in this country. Transmark Chile significantly wants to contribute to further development of the high potential geothermal market in the Andes.”

Source: Company release