Geothermal fund announces first round of grant awards

In a release yesterday, the Geothermal Development Fund for Latin America (GDF) announced the grant awards for the first call of proposals. The results are:

4 Confirmation Drilling grants have been approved for: Colombia, Guatemala, and Honduras.

4 Surface Studies grants have been approved for: Bolivia, Chile, Ecuador, and Guatemala.

These awards total an approximate cumulative funding of EUR 22 million ($26.3 million) from GDF, leveraging up to EUR 1.6 billion ($1.9 billion)  in future investments and generating at least 285 MW of projected capacity.

Grant Agreement proceedings will begin immediately with approved applicants and the GDF looks forward to a successful round of negotiations. The 2nd round shall begin during the 4th quarter of 2017.

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Via ThinkGeoEnergy