Chile’s ENAP reduces stake in geothermal project

Chile's Empresa Nacional del Petroleo (ENAP), a state-owned firm, may reduce its interest in the 48-MW Cerro Pabellon geothermal project. The project is controlled by Enel Green Power with a 51% stake.

The goal of ENAP has always been introducing a new technology in the country rather than owning the asset.

According to local sources, ENAP's contribution has decreased since the start of the project in July and would further shrink to a 20% share. 

The total project investment is estimated at US$320 million. 

Enel Green Power has said it is funding the project with own resources. Construction of the project is expected to be completed by the first half of 2017.