13 finalists chosen for Latin American geothermal development facility

The Geothermal Development Facility (GDF) for Latin America has selected 13 finalists after the first run of expression of interests closed at the end of February 2017. Final grant approvals are anticipated for Q4 2017.

The German government’s KfW Development Bank in conjunction with the European Union has launched the EUR55 million geothermal power fund for Latin America to focus on early stage development managed by Washington, DC-based, IDA Fund Management, LLC.

Known as the Geothermal Development Facility (GDF), the goal is to be a catalyst to 350 MW of installed geothermal power capacity in Latin America over the next ten years. KfW, working jointly with The World Bank, CAF, CABEI, 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 LAC. The Latin America GDF was launched at GEOLAC 2017 in Mexico City.

It is anticipated that late this year a second Expression of Interest will be initiated where new applicants and some of those that weren’t selected in the first round will apply.