Canada BC project nears drilling; Chile’s geothermal value; Mexico’s Ceboruco project; Hot Rock sells Peru asset

In the Americas, a geothermal project in British Columbia nears the drilling stage. Chile has enormous geothermal value. A JV in Mexico will begin drilling at Ceboruco. A company in Peru will sell its Quellaapacheta geothermal stake to its JV partner.

Canada: Nation’s Geothermal Resources Need Support as BC Project Nears Drilling Stage
Chile: Country’s Geothermal Developments an Investment Worth U.S.$390 Million
Mexico: Mexxus JV to Begin Drilling Ceboruco Geothermal Project
Peru: Hot Rock to Sell Quellaapacheta Stake to EDC

Canada: Nation’s Geothermal Resources Need Support as BC Project Nears Drilling Stage
Interest in Canada’s geothermal potential may be getting some notice. Borealis Geopower has some good news about its project in British Columbia, while in Nova Scotia, the Liberal party has spoken up supporting geothermal. A statement on CanGEA’s Web site talks about how geothermal has been ignored in the northern nation despite its potential.

Borealis Geopower representative Craig Dunn was quoted on Therockymountaingoat.com discussing how the company is narrowing down areas for drilling at its Canoe Reach, Robson Valley site in British Columbia. Exploration has included aerial photography with an unmanned drone as well as biogeochemical sampling of tree bark to learn about the water in the soil. Dunn told press the rest of the exploration program will cost under $1 million, and the next phase, slim-hole drilling, will cost anywhere from a few hundred thousand dollars to over a million dollars per well. The company hopes to begin the drill program in spring.

With elections taking place, in Nova Scotia, Thechronicleherald.ca looked at parties’ environmental stances and found that the Liberal party has spoken up in for geothermal energy in Canada. The Liberals support small renewable energy producers, they said, and in particular supported a bill exempting public utilities from Nova Scotia Utility and Review Board oversight if they provide thermal or geothermal energy to 10 or fewer customers. “The Liberals have also asked to have solar and geothermal projects included with other renewable projects under COMFIT,” they said.

A statement on the Canadian Geothermal Energy Association (CanGEA)’s Web page asks, “where would industries like the oil-sands, solar and wind be today without substantial initial and on-going government investment?” The group notes that subsidies given to industry are sometimes criticized for their magnitude but states that with regards to the geothermal energy industry, the question merits closer consideration. An example of geothermal being overlooked was in the ecoENERGY for Renewable Power program, launched in April of 2007 with $1.5 billion for Renewable Power. Although geothermal did eventually qualify to benefit under the program, Natural Resources Canada failed to set a maximum capacity factor for geothermal, and now with over 100 projects being financed under the program, not a single of them is a geothermal project. Cangea.ca; Nrcan.gc.ca

Chile: Country’s Geothermal Developments an Investment Worth U.S.$390 Million
An article on Americaeconomia.com discusses geothermal energy in Chile, and the regional market’s potential and challenges. The article states: “Currently, there are 76 exploration concessions (north to south), according to the Ministry of Energy, with an area of ​​three million hectares and an investment worth U.S. $390 million.” The project list includes the Apacheta-Hill Pavilion by ENEL Green Power Company-Geothermal North for a 50-MW binary plant, and a 70-MW project by Tolhuaca Mighty River Power that includes the Tol 4, with a potential of 12 MW, the “most productive well in South America.”

Mexico: Mexxus JV to Begin Drilling Ceboruco Geothermal Project
A joint venture between Mexxus Drilling International and Reykjavik Geothermal has been awarded a Geothermal Resources License to develop the Ceboruco Geothermal Prospect in the state of Nayarit. Mexxus RG plans to begin drilling in the project’s first phase in the first trimester of 2014. Phase 1 is targetting 30 MW and Phase 2 is expected to take it up to 100 MW. Thinkgeoenergy.com

Peru: Hot Rock to Sell Quellaapacheta Stake to EDC
Hot Rock Limited will be selling its stake in the Quellaapacheta geothermal project to its venture partner Energy Development Corporation. The company owns 30% stake in the Peru project and has signed a binding letter of offer to sell. Some or all of Hot Rock’s additional assets may be included in the sale: the Achumani and Huisco projects in Peru and the Longavi and Copahue projects in Chile. Proactiveinvestors.com.au

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