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Ante-proyecto de Ley de la Industria Geotérmica (Draft • Geothermal Law) The Draft Geothermal Law provides a legal framework • which is designed to protect the country’s interests while encouraging the development of geothermal resources and establishing a regime for the private-sector development of those resources. The Draft Law defines two types of concession: exploration and exploitation. It outlines three steps for developing a project: acquiring an exploration concession, acquiring a PPA, and acquiring a foreign • permissiondocument. Additionally,theprojectdeveloper • • Geothermal resources are the property of the State. All activities related to exploring and exploiting geothermal resources are of national interest. For all legal purposes, geothermal resources are declared for public use and rational exploitation. The granting of an exploitation concession is given on the approval of INE that: 1. the soliciting company presents a Development Plan for the project, and 2. firstdraftofacontractforbuying and selling the steam between the concession and ENEL or its successor. Incentives to private investment. must post a bond equal to 25% of the total project cost. The core concepts of the Draft Law are: The U.S. geothermal industry, through the Geothermal Energy Association (GEA) and DOE, has commented on the DraftLaw. Thearealimitationsonconcessionsizewas Geothermal Resources in Latin America & the Caribbean 75PDF Image | Geothermal Resources in the Caribbean and Latin America
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