Business Week reports that NZ geothermal power company Might River is expanding across the Pacific to Chile - N.Z.’s Mighty River Plans to Open First Chilean Plant by 2013
Mighty River Power Ltd., operator of the world’s largest single-turbine geothermal generator, expects its Chilean venture to start operating by 2013.
Drilling next summer will help refine the concept for a 70- megawatt, $220 million project at Tolhuaca, southeast of Concepcion, Mighty River Chief Executive Officer Doug Heffernan said in an interview in Wellington today. Construction may take three years, assuming some time is lost to winter snow, he said.
“Three years from the end of this year you could have a plant operating,” Heffernan said. “A minimum of two years and likely three years.”
Chile is encouraging development of new power sources after suffering shortages as Argentina reduced natural gas supplies. Mighty River, working through Denver, Colorado-based associate GeoGlobal Energy LLC, has gained access to five potential steamfields in competition with rival developers including Italy’s Enel SpA, state-owned refiner Empresa Nacional de Petroleo and London-based miner Antofagasta Plc.