GEOLAC Market News

Mexico Awards Concessions and Exploration Permits for 5000 MW of Geothermal Power

July 28, 2015

Last week, Mexico’s Energy Ministry signed on to develop and explore 5,000 MW of geothermal power. A total of five geothermal concessions and 13 exploration permits were awarded to national power utility, Comision Federal de Electricidad (CFE).

Plans for South America’s First Geothermal Plant Underway

July 22, 2015

Chile’s state-owned utility and Enel Green Power have signed a contract to begin construction of a 50MW geothermal plant in the Northern region of the country. The project will cost approximately $180 million and will be in operation by the end of 2016.

St Vincent geothermal project on track to start-up in 2018

July 22, 2015

According to Emera Caribbean, a partner of the St Vincent & the Grenadines government, a geothermal energy project is set to start by 2018, with drilling starting in 2016.

Germany to provide $112mm for Geothermal in Central America

July 22, 2015

After a meeting between Nicaragua’s president, Daniel Ortega, and Klaus Kramer, head of the Division of Regional Development Policy for Central America and the Caribbean of the German Economic Cooperation and Development Ministry, Germany announced the establishment of a line of credit for Central American geothermal projects. Total available financing is 100 million euro ($112 million). […]

$958 Million Geothermal Project Approved By Costa Rican Legislature

July 21, 2015

Last week, the Costa Rican Legislative Assembly approve a $958 million geothermal project. Funding comes partially from JICA and the European Investment Bank, with the remainder provided by the Costa Rican Electricity Institute. With these funds, four 50 – 55MW plants will be constructed. They are expected to produce electricity at a cost of 5 […]

St Lucia to Begin 2nd Round of Public Consultations on Geothermal Energy

July 6, 2015

In order to provide geothermal development updates and transparency, St Lucia’s Ministry of Sustainable Development, Energy, Science and Technology will start a second round of public consultations next week. This will include survey by aircraft and a data assessment by a geologist. Information will be available to the public by August of 2015.