Guatemala’s El Ceibillo geothermal project receives $3.4 million from GDF fund

The Guatemalan El Ceibillo geothermal project is a recipient of a $3.42 (EUR2.91) million grant from the German Development Facility (GDF) for Latin America for further development drilling.  The grant represents an approximate 40% cost share for drilling up to three production wells, with a total estimated program cost of $8.81 (EUR7.486) million.  If the GDF funding is used on the project and the power plant is constructed, the grant would be converted into a loan.  The German Development Bank may consider financing the entire project when it moves to production.  The next phase of work for the project is being considered by the management team as 2018 budgets are being developed. Guatemala is expected to announce an RFP for 420 MW of energy, including 40 MW of geothermal energy.