Geothermal energy pilot projects

Company News, Energy    Jul 7, 2021 4:44 PM

The energy sector is developing three pilot projects for geothermal power generation.

The industry is developing these projects in Casanare and Meta, Piensa Geotermia reported.

Ecopetrol (NYSE: EC) and Parex Resources (TSX: PXT) are using hot water derived from oil drilling to produce geothermal energy in these regions.

Parex with the Universidad Nacional, Medellin branch, commissioned the first geothermal power generation project in the country in March 2021.

The project is located in Campo Maracas in Casanare, with a maximum generation capacity of 100 kW, replacing 5% of the energy generated from fossil fuels. The monthly generation capacity is 72,000 kWh, equivalent to the consumption of 480 families.

Parex has another pilot in Campo La Rumba, in Aguazul (Casanare), with a capacity of 35 kW and generation of 672kWh/day, equivalent to the consumption of 117 households.

Ecopetrol is developing another pilot in Chichimene (Meta) with a capacity of 2MW and generation of 38,400 kWh/day, equivalent to the consumption of 6,659 homes.

Minister of Mines and Energy (MinEnergia), Diego Mesa, said that these projects are an example of how the policy implemented by the government has diversified the energy matrix.

Mesa highlighted that Colombia has all the conditions for the development of these projects thanks to its privileged geographic and geological position.

Bottom-Line: Colombia is on the right track to diversify its energy matrix, and promote new generation sources.

The country has great potential and these projects will be the first step to promote new technologies in Colombia.

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