News

Geothermal Development Fund for Latin America announces $26m grant awards

El Ceibillo project site, Guatemala (source: U.S. Geothermal Inc.)
Alexander Richter 5 Oct 2017

The Geothermal Development Fund (GDF) for Latin America has announced grant awards of up to EUR 22 million for geothermal projects in Colombia, Guatemala, Honduras, Bolivia, Chile, and Ecuador for confirmation drilling and surface studies.

In a release yesterday, the Geothermal Development Fund for Latin America (GDF) announced te 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.

For more information please visit www.gdflac.com.