One of the most prominent areas for future geothermal development in the world is Latin America. According to official estimations, the potential of geothermal development in the region is higher than 38.000 MW. Around 100 applications for geothermal concessions in Chile were presented to the Ministry of Mining in 2008. The Ministry envisages, moreover, opening at least 50 geothermal areas for public tendering in 2009 .

The demand for services covering all aspects of geothermal exploration and development is foreseen to significantly exceed the capacity of both local Universities and relevant companies.

In light of this the Icelandic companies, Iceland GeoSurvey and Verkís, have decided to enter the Chilean geothermal market. Under the joint name GeoThermHydro they will make available the complete range of geothermal services to potential developers seeking to harness Chile’s vast geothermal potential.