Geothermal resources to be opened for development in new alliance

The National Petroleum Company (ENAP) of Chile and Italy’s Enel have signed an agreement to jointly exploit geothermal resources in the Latin American country.

Under the terms of the agreement, Enel will acquire a majority 51% holding in Chile’s National Geothermal Energy Company (ENAG), with the remainder held by ENAP.

Chile has rich geothermal resources which ENAP hopes to develop through an exchange of bonds with Enel.