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receiving government finance through trust funds, and in 2010, new investment in renewables in the country increased almost sevenfold to US$ 740 million.58 In its renewables policy incentive scheme Argentina uses feed-in tariffs, given for 15 years after a plant is brought on line, as well as competitive bidding and long-term tendering.59 Though a 1998 law supported wind and solar generation, geothermal did not become eligible as a renewable energy source until 2007. More recent additions include tax exemptions, and the country set a mandate for electricity generation from renewable sources to reach 8 percent of the portfolio by 2016. In May 2009, the Genren Program was launched, aiming to purchase and incorporate 1,000 MW from renewable energy plants, 30 MW of which is to come from geothermal energy. Argentina has some particularly unique geothermal finds, such as a newly discovered Jurassic-era organic deposit. No geothermal power plants are currently operating in Argentina, but Earth Heat Resources (Australia) is working toward a June 2012 completion date60 at its flagship Copahue project and has signed a PPA with Electrometalurgica Andina SAIC for an initial 30 MWe/year. IDB is a major investor.61 Chile In Chile, issues such as increased energy consumption and demand as well as shortages of natural gas imports undermine Chile’s energy security while it continues to rely on hydropower and fossil fuels for electricity. In 2009 the US Department of Energy (DOE) and the Chilean National Energy Commission established an institutional framework for collaboration between the two nations and to develop a Renewable Energy Center in Chile.62The initiative’s aim is to identify developments and best practices in renewable energy technologies from around the world and then incorporate those findings in the region. The Chilean government’s response includes offers of renewable energy concessions to local and foreign developers. A tender that just closed in April 2012 for 20 geothermal energy exploration concessions generated US$ 250 million in committed investments from thirteen firms, including Enel Green Power (Italy, via Geotermica del Norte, Chile), Origin Energy (Australia), Alterra Power Corp. (Canada), Ormat Technologies (US, via Ormat Andina, Chile), GeoGlobal Energy LLC (US, via GGE Chile), and Colbún (Chile).63 In addition acquiring geothermal concessions, foreign and Chilean companies are engaged in moving a number of projects throughout Chile through stages of permitting, exploration and development. For example, the first completed geothermal facility in South America seems likely to come from Enel, which is close to entering the construction phase on its 40-MW Cerro Pabellón, Pampa Apacheta geothermal project in the Antofagasta region.64 Enel also recently acquired the Colorado, San Jose I, and Yeguas Muertas concessions.65 GGE Chile could break ground in mid-2013 for a geothermal power plant at the Curacautin prospect in southern Chile and bring it on line by early 2016. The company has submitted an environmental impact assessment for a 70-MW geothermal project planned at US$ 330 million.66 Energy Development Corp.’s (Philippines, via EDC Chile)’s interest in Chile’s resources led to applications for over a dozen concessions in 2011, and the company is about to begin geological and geophysical surveys at the Newen site.67 The company has recently partnered with Australian geothermal company Hot Rock in the exploration and development of geothermal prospects in Chile and elsewhere. Transmark (The Netherlands, via Transmark Chile SpA) and ECM SA (Chile, via ECM Geothermal SpA)are jointly developing strategies for geothermal resource development, with exploratory drilling to begin by 13PDF Image | Geothermal International Market Report
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