The concession is located north of the San Pablo/San Pedro twin volcanic complex.
Ormat will launch exploration testing and studies to assess the feasibility of the site for commercial development.
The company said that it has submitted bids for additional geothermal exploration concessions in Chile.
Earlier this year, the Chilean government established a goal for 20% of the country’s electricity matrix to be supplied by non-conventional renewable energy by the year 2020.
Ormat is primarily engaged in the geothermal and recovered energy power business.
