The GDF is pleased to announce seven grantees spanning across Central and South America. As a result of this initiative, surface studies in amounts of up to €600K will be funded in Chile, Peru, Nicaragua, and Guatemala, while exploratory drilling campaigns up to €5.8M will be funded in Chile and Guatemala.
The €13M in total grant awards approved during this second call comprises approximately 23 percent of the GDF’s original €55M fund, which is expected to catalyze €1.6B in future geothermal investments in Latin American. The total
anticipated amount of energy generation supported through the first and second calls is expected to reach 520 MW.
Furthermore, with a new, third call for applications scheduled in December 2018, the GDF anticipates surpassing its original goal of seeding 350 MW of geothermal power in the region. Due to its success and to continuing interest in—and government reforms toward—renewable baseload and geothermal energy, the GDF will continue to discuss increasing its funding beyond the initial €55M seeded by KfW and the EU.
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