Mexico announces new US$50m program for geothermal development

Mexico announced a new geothermal risk transfer program aimed at reducing exploratory risk and financial barriers for developers. The program, developed by the Inter-American Development Bank through the Clean Technologies Fund with NAFIN, SENER, and INEEL has the objective of increasing geothermal electricity capacity in Mexico by easing several key barriers. The financing component of the program is divided into two phases: drilling and plant development. The program has also created an environmental assessment tool for developers to assist developers in improved and advanced planning. The announcement was made during the 5th Geothermal Congress for Latin America and the Caribbean (GEOLAC). NAFIN anticipates that through this program, drilling can begin in the first half of 2019. 

Further details on the program will be made available shortly.