
Radius Gold announced the company has been granted a geothermal license in Guatemala. The license allows the company to pursue geothermal assessment and development on a total of a little more than 200,000 hectares of land.
Radisu Gold has originally been involved in mining gold in Guatemala, but the company noticed the presence of hot springs near and at the gold mining sites, indicating hydrothermal activity in these areas. With the increasing trend of clean energy development, the company decided to pursue a more specific strategy and move towards geothermal energy exploitation.
Most of power generation in Guatemala is currently from hydro energy sources, gas turbines and diesel generators, but also geothermal energy in the latter years (only 3% of the total power generating capacity in the country though). According to a published study, it is estimated that this Latin American country holds anywhere from 800 to 4000 MW of geothermal power generating capacity. It is most likely however, that about 1000 MW is technically feasible.
Radius Gold is using its accumulated experience over the past ten years, and the knowledge of Guatemalan geology to assess geothermal energy exploitation opportunities, as well as parallely pursuing mineral mining opportunities. Apart from this latest geothermal license grant, the company is waiting to receive an answer for another six applications for geothermal exploration activities.
[source: Radius Gold]