The Chilean Energy Minister recently announced plans to invest $200 million in geothermal energy projects in Chile over the next two years. Chile will also grant 170 land concessions to developers now through 2012.
These concessions are expected to eventually yield additional hundreds of millions of dollars in revenues.
The Chilean geothermal market is at its nascent stages, with only one major project underway, developed by Italian utility Enel. However, other geothermal companies such as Ram Power, Magma Energy and Ormat have been looking into geothermal resources in Central and South America.
Chile, with its 4,300 mile long mountain range, provides many interesting locations for energy exploration.