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addressed the question of foreign investment. This amendment removed restrictions that applied only to foreigninvestors, freeingthemoftheneedtoreceiveprior approval for most investment. Later in 1993, the measures of the 1989 Economic EmergencyLaw,the1989ReformLaw,andthe1993 amendment to the Foreign Investment Law were combined inanactcalledDecree1853,whichremovedmostofthe remaining restrictions on foreign investment. No Specific Law for Geothermal Provincial Governments are responsible for geothermal explorationanddirectuses. Increasingnumbersofforeign companiesareinvestinginArgentina’sprovinces.Forthe past six years, the IDB has financed provincial reforms to reduce the size of the public sector, privatize public services, and allow the provinces to use their competitive advantages. At the National level, there are no specific legislation or initiativesforgeothermalpowergeneration. Thelegal framework differs depending on whether the geothermal resourcetobeexploitedissteamorhotwater. There is no National code for the use of hot water geothermalresources. Theiruseissubjecttothe Provincial laws which regulate the use of water. Legislation varies from province to province. Law No. 22.259 (July 30, 1980) Governs use of “indigenous vapors” and modifies the old MiningCode. Steamisconsideredthepropertyofthe State—National or Provincial—depending on in which politicaljurisdictionitisfound. Itisgrantedinconcession to whomever proves sufficient technical and economic solvency. Geothermal Sites / Projects Argentinahasanestimated2,010MWeofgeothermal power potential. Since the early 1990s, due to low fossil fuel prices, the emphasis of Argentina’s geothermal program has shifted from exploration and development of high temperature resources for electricity generation to the use of lower temperature resources in direct applications (Pesce, 1998). The generation of electricity from geothermal power is not currentlyeconomical. Thepriceofelectricityis $0.09/kWh; the cost of generation just $0.02/kWh and falling (NRECA; March 1998). Geothermal Resources in Latin America & the Caribbean 124PDF Image | Geothermal Resources in the Caribbean and Latin America
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