Thursday, May 12, 2016

Latin America: Initial EUR 50 Million Risk Mitigation Fund for Geothermal Development

Dewhurst Group Selected as Lead Geothermal Project Manager for KfW Fund (News Release)

First Multi-Donor Climate Initiative to Promote Geothermal Energy in Latin America

The German Government’s Development Bank, KfW, has announced the launch of the first multi-donor climate initiative to promote geothermal energy in Latin America. The initiative is known as the Geothermal Development Facility, Latin America (Fund).

This activity includes both straight grants for exploration surface studies as well as contingency grants for exploration drilling. Initially €50M will be provided with follow-on funding anticipated. The Fund will be modeled after the existing risk mitigation fund in East Africa.

Qualified developers in Chile, Bolivia, Peru, Ecuador, Colombia, Costa Rica, Nicaragua, El Salvador, Honduras and Guatemala can apply for funding. The Fund will also include technical assistance forums for the various stakeholders.

IDA Fund Management, LLC will serve as the Fund managers with oversight from KfW. IDA Fund Management, LLC includes Interlink Capital, Inc., Dewhurst Group, LLC, and Ambata Capital Partners.

The Fund expects to be up and fully operational within the next six months.

Dewhurst Group will be exhibiting at the GRC Annual Meeting & GEA Geothermal Energy Expo, October 23-26 in Sacramento, California.

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