Chile is seeking the Philippines’ help in developing its geothermal resources and has also urged local firms to invest in the South American country, according to Energy Secretary Jose Rene D. Almendras.
“[The Chilean government] acknowledged the fact that the Philippines is the world’s second-largest producer of geothermal energy. They also mentioned that they believe that the Philippine experience and Philippine geothermal technology are more appropriate for Chile, given similarities in weather, realities or probably economics,” Almendras said in a briefing.
According to Almendras, the Chilean government will soon be sending its team to the country, not only to study the local regulatory framework covering geothermal exploration and development but to also convince Philippine companies to consider investing in Chile.
Chile has yet to put up its first geothermal power plant.
Almendras said that the Department of Energy was in talks with geothermal companies, particularly Energy Development Corp. (EDC), which already has an office in Chile.
For its part, EDC has affirmed its commitment to develop geothermal resources in Chile, following the discussions between President Aquino and Chilean President Sebastian Piñera, who both expressed keen interest in establishing a deeper partnership in geothermal energy development.
EDC, currently the country’s biggest producer of geothermal energy, is racing against other foreign companies to build the first geothermal power plant in Chile, as it boosts its operations globally.
EDC president and chief operating officer Richard B. Tantoco had said in a statement that the company was preparing to undertake preliminary survey work in its three geothermal exploration concession areas in Chile, namely, Newen, San Rafael and Batea, in the hope of putting up the first geothermal facility there.