Monday, August 15, 2016

Latin America: The Geothermal Development Facility for Latin America

Podcast: Opportunities For Geothermal In Latin America (Frontera News)

The funding will support surface studies and early stage drilling (first 3 wells) with a goal to create 350 MW of geothermal power in the region 

The Geothermal Development Facility for Latin America (GDF) is a privately managed, Mauritius-based foundation with an initial capitalization of €50 million from the German government (KfW) and the European Union (EU). Other investment in a similar collective amount from multilateral development financial institutions (CAF, IDB, World Bank, CABEI, Norfund, AFB, DFID etc.) is under consideration.

GDF’s purpose is to provide early stage grant funding for geothermal development in 10 countries in Latin America in order to overcome the significant exploration cost hurdles which curtail the economic development of geothermal project.

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