New Projects, Renewables

Geothermal projects in Chile, Peru in the works

geothermal projects Alterra Power Energy Development Corp EDC Peru Chile Mariposa

Canada-based Alterra Power Corp. (TSX: AXY) and the Energy Development Corp. (EDC) has issued notice to proceed for the development of Alterra’s 320 MW Mariposa geothermal project in Chile and the Crucero, Loriscota and Tutupaca Norte concessions in Peru.

EDC will earn a 70 percent interest by funding all of the next $58.3 million in project expenditures at Mariposa, and $8 million in expenditures at the Peruvian concessions. The joint venture will develop additional infrastructure over the next 18 months, and production-scale drilling will begin in late 2014.

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