Peru:

Peru Agrees to Cancel Exploration Permit for Crucero Geothermal Area (SeeNews)

(Courtesy CIA.gov)

Peru's energy ministry has approved a request from Magma Energía Geotérmica Perú S.A. (Magma Perú) to cancel a permit for exploration of geothermal resources in the Crucero area.

The company decided not to proceed with the second exploration phase and requested to return the whole area, the ministry said in a resolution published on Wednesday.

The request was filed in May 2014, three years after Magma Energia received the permit.

Canadian company Alterra Power Corp, currently holds 30% in early-stage geothermal assets in southern Peru, while the controlling 70% is in the hands of Philippine geothermal power producer Energy Development Corp (EDC).

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