After EDC announced last week a JV to explore for geothermal in Peru the Philippines company announces another interest in Chile.
Energy Development Corp. (EDC), is acquiring a 70-percent stake in the Mariposa geothermal concession in Chile, which is currently owned by Canada-based Alterra Power Corp.
In a briefing last Friday, EDC president Richard B. Tantoco disclosed that the company was firming up a Joint-Venture agreement, which it hoped would be signed by EDC and Alterra Power in three months’ time.
According to Tantoco, EDC planned to use the same farm-in arrangement as what it did with Australian firm Hot Rock Ltd. Under this arrangement, the Lopez firm was able to acquire a 70-percent stake in four of Hot Rock’s geothermal concession areas in Chile and Peru.