Geothermal Development Facility now accepting applications

The Geothermal Development Facility (GDF) for Latin American this month began accepting expressions of interest (EOI) for funding awards to cover geothermal exploration, drilling and well testing in 10 Latin American countries.

EOIs are due by Feb. 28.

The GDF was launched by the German government’s KfW Development Bank together with the European Union and other partners. A total of $53 million in funding has been made available over 10 years. The fund is the first geothermal risk mitigation facility for Latin America, and covers Bolivia, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, and Peru.

According to the GDF website, activities eligible for funding include:

  • Surface studies to determine optimal locations for reservoir-confirmation wells of geothermal prospects that have previously been identified. Surface studies can include geophysical surveys, as well as supplementary remote sensing, geological, hydrogeological, and/or geochemical surveys, if these are necessary for siting reservoir confirmation wells.
  • Drilling projects at geothermal prospects, including well-testing programs to help confirm and update the conceptual model. In addition, drilling programs may incorporate a feasibility study with the aim of securing financing for siting additional wells.

A call for proposals will follow the EOI phase. Currently, there is no official timeline for when the GDF will initiate the call for proposals.

Read more here.