Tuesday, May 30, 2017

Chile: World Bank Grant to Strengthen Country’s Geothermal Sector

WB approves $1.78 million grant to help develop geothermal energy in Chile (energia16)

(Courtesy Enel Green Power Chile)
The World Bank Board of Executive Directors approved a US$1.78 million Clean Technology Fund (CTF) Grant to “strengthen the Chilean Ministry of Energy’s capacity to further develop the country’s geothermal sector and improve its energy security,” energiasrenovables website reported. 

The World Bank explained in a statement that “the grant will contribute to Chile’s Energy Agenda (Agenda de Energía. Un Desafío País, Progreso para Todos) and the Energy Policy 2050, which aims to boost the use of non-conventional renewable energy (NCRE) and reduce the cost of electricity. Chile’s abundant geothermal potential provides a good renewable energy option to further diversify the country’s power generation mix, and reduce price volatility.”

Among other elements that justify this donation, the WB assures that “the Government of Chile has made a concerted effort to develop its nascent geothermal energy industry,” remarking, however, that “despite what appeared to be a promising start, a number of issues stymied exploration investments.”