Canada, Chile:

Alterra Eyes First Geothermal Power in Chile From 2017 (Platts)

Drill site MP-02 at the Mariposa geothermal Project (Courtesy Alterra Power)

Renewable-energy firm Alterra Power of Vancouver, British Columbia, could produce its first electricity in Chile from geothermal sources as soon as 2017, after forming a joint venture with the Philippines' Energy Development Corporation (EDC), an executive told Platts on Tuesday.

"That's the most optimistic date, 2017 or 2018," said John Selters, general manager of Alterra Chile, on the sidelines of the FORO SIC energy conference in Concepcion, Chile.

In the deal closed late last month, EDC, a leading producer of geothermal power, will earn a 70% stake in Alterra's 104,000-hectare Mariposa concession, around 250 kilometers south of Santiago, by spending $58.3 million to bring the project to a bankable feasibility stage.

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