The potential of conventional geothermal resources in Latin America could be as high as 300 TWh per year, believes the Energy Sector Management Assistance Programme.
Several nations in the region have already announced their intentions to promote this renewable energy source.
Argentina, for example, has introduced a feed-in-tariff scheme for all geothermal projects, with power plants eligible for the first 15 years of their operating life.
Peru has introduced a similar incentive.
Separately, Chile is reported to have as high as 16 000 MW of geothermal potential. And geothermal is expected to help the country reach its renewable energy targets.
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