Frontera Podcast

The Geothermal Development Facility for Latin America (“GDF” or the “Fund”) is privately managed, Mauritius-based foundation with an initial capitalization of €50 million from the German government (KfW) and the European Union (EU). Other investment in a similar collective amount from multilateral development financial institutions (CAF, IDB, World Bank, CABEI, Norfund, AFB, DFID etc.) is under consideration. GDF's purpose is to provide early stage grant funding for geothermal development in 10 countries in Latin America in order to overcome the significant exploration cost hurdles which curtail the economic development of geothermal project. The funding will support surface studies and early stage drilling (first 3 wells) with a goal to create 350MW of geothermal power in the region at an estimated capital requirement of between €1.5 and 2.0 billion when fully deployed. By addressing exploration the fund will facilitate subsequent sources of Development Finance Institution (DFI) funding to support the commer