Tender for Latin America Risk Mitigation Fund Management
The Facility aims to overcome existing barriers for the development of geothermal energy in Latin America by providing funds for a risk mitigation scheme and technical assistance.
The Nordic Development Fund is one of 14 development financiers who support the Geothermal Development Facility for Latin America (GDF Latin America). The GDF Latin America is led by KfW who — on behalf of the German Federal Government, the European Union and the Stakeholder Group — is inviting suppliers to submit a request to participate in the negotiated tendering procedure for the procurement of Fund Management services for the GDF Latin America.
The Facility aims to overcome existing barriers for the development of geothermal energy in Latin America by providing among else (i) a tailored Geothermal Risk Mitigation Fund in order to mitigate geothermal resource risk during the exploratory drilling stage of the project as well as (ii) a Technical Assistance Forum in order to coordinate activities and programs of the GDF Latin America stakeholders with the respective partner governments. The GDF Latin America is the first coordinated multi-donor scheme to support geothermal energy on a regional scale in Latin America and will prove transformational in terms of promoting geothermal energy development in the region. It is expected to facilitate at the very minimum the development of up to 7 geothermal plants with a cumulative capacity of at least 350 MW and a total estimated investment volume of at least 1 000 000 000 EUR.
The purpose of this Fund Management assignment is among else the final structuring, set-up and management of the Risk Mitigation Fund including the provision of the inherent Risk Mitigation Instruments to qualified developers, the management of the Technical Assistance Forum as well as all related auditing and reporting duties. The assignment will be executed by a Fund Manager who will be committed to and in charge of the assignment throughout the GDF’s intended lifetime.
Launch of innovative Geothermal Development Facility