Chile receives huge grant for promoting geothermal sector

Financial support for geothermal sector of Chile. Image source: Shutterstock (#385298803)

Chile will receive 1.8 million USD from the World Bank’s Clean Technology Fund to develop the geothermal sector and improve its energy security. This grant will also contribute to Chile’s Energy Agenda and the Energy Policy 2050. The strategy aims at rapidly increasing the use of non-conventional renewable energy (NCRE) and reducing electricity costs. In a wider context the expansion of the geothermal sector is supposed to meet the growing energy demand, provide security and promote investments in rural areas as well as generate sustainability.

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