News

EOI: Funding opportunities through new Latin America Geothermal Development Facility

Drilling rig at Tolhuaca, Chile (source: GeoGlobal)
Alexander Richter 12 Dec 2016

The $58 million Geothermal Development Facility for Latin America has issued its first call for Expression of interest for proposal for surface study funding up to EUR 600,000 ($635,000) and contingency drilling grants up to EUR 5.8 million.

Announced in April 2016, the Geothermal Development Facility (GDF) for Latin America has now issued its first call for Expressions of Interest (EOI) for funding opportunities through the GDF. It will begin on Sunday, January 15th 2017.  

The 1st EOI will allow interested applicants to submit a proposal for surface study funding up to EUR 600,000 ($635,000) and contingency drilling grants up to EUR 5.8 million ($6.1 million). The ten eligible L atin American countries are: Bolivia, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, and Perú. You can begin the process by signing up through the www.gdflac.com website. 

Signing up early allows to receive the Developer’s Manual and other key information before January 15th, 2017. EOIs will be accepted between January 15th and February 28th, 2017. Please note that you must complete the sign-up survey before you can be invited to complete an EOI.

About GDF:

The German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU), through KfW Entwicklungsbank (KfW) and jointly with CAF, CABEI, World Bank, ESMAP, IDB, AfD, EIB, JICA, NDF, BGR and GIZ launched the Geothermal Development Facility (GDF) for Latin America in the framework of COP20 in Lima, Peru in December 2014. The GDF is the first multidonor climate initiative to promote geothermal energy within this region. In the past, BMZ, the EU, and DfiD in through KfW established a similar facility in Africa, known as the Geothermal Risk Mitigation Facility for East Africa (GMRF).

As the first multi-donor, geothermal risk mitigation facility for Latin America, GDF will provide EUR 55 million ($58 million) to focus on early stage development. 

The GDF was formally announced by KfW in Reykjavik, Iceland on April 25, 2016, during the World Bank/ESMAP GGDP Roundtable. While the first round of funding (€50M) has taken place, additional funding closures are anticipated over time. The GDF will provide geothermal development support over a ten-year lifespan.

The fund is managed by IDA Fund Management, LLC (IDA). While the main office for the fund is located in the greater Washington, DC area, a geothermal project office is located in Bogotá, Colombia. IDA consists of Interlink Capital Strategies and  Dewhurst Group, LLC. Interlink provides financial expertise, while Dewhurst Group focuses on the approval and development of specific geothermal project initiatives identified by applicants.

Questions?

Email: info@gdflac.com

Call: +1 (716) 566-2741 (USA VOIP for office located in Colombia).

Both English and Spanish speakers are welcome!