The Andean volcanic arc hosts more than 200 active volcanoes, some of which are related to proved geothermal resources that could provide clean and sustainable energy in Chile. Even though exploration campaigns started in the early 20th century, the Andes still represents one the largest undeveloped geothermal regions of the world (Lahsen, 2005). However, this situation will change shortly. In Chile, geothermal exploration is currently very active and involves the participation of more than ten national and international companies in more than forty geothermal areas, with the aim of developing geothermal resources. One of the reasons for the renewed interest in geothermal resources is the increasing need of new national sources of energy, taking into account the high dependence on imported fossil. In that regard, the Renewable Energy Law of 2008 forces that 20% of all generated electricity comes from renewable sources by 2020. The Geothermal Law of 2000 provided also a clear and easily managed framework for the exploration and development of geothermal energy. A new impulse for the development of geothermal energy is the creation of the Andean Geothermal Center of Excellence founded by Chilean government, with the mission of generating and improving geothermal knowledge in Chile and the rest of the Andean countries. In this paper we present the latest advances in geothermal exploration and the new estimations for midterm power generation. We finally introduce the Andean Geothermal Center of Excellence to the geothermal community worldwide.