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Geothermal Development Facility (GDF) for Latin America - Launch at COP20 in Lima, Peru Monday, December 8th 2014 10:30am-12:30pm EU-Pavilion The Geothermal Development Facility will provide a (i) Risk Mitigation Fund for early stage exploration drilling, (ii) tailored Bridge and Investment Financing Lines for subsequent investments and a (iii) Technical Assistance Forum in order to incentivize geothermal development in the targeted countries. Under the Risk Mitigation Fund public and private developers will be able to apply from early 2016 onwards for a Contingency Grant that will cover up to 40% of the cost of up to three early exploration wells. Grants received will only have to be repaid in case of a successful exploration. Developers will further be able to refinance grant repayments through the provided Bridge and Investment Financing Lines for geothermal power plants. Financing Lines for the production drilling and construction stages would, as of now, consist in two programs between KfW on behalf of the German Federal Government and CAF and BCIE respectively, as well as on programs from both the private and the public sector windows of the IDB and financing lines of AfD and EIB. In addition, CAF, BMZ through GIZ and BGR, IDB, World Bank, ESMAP, JICA and NDF will coordinate their existing and planned Technical Assistance Programs in the framework of the GDF’s Technical Assistance Forum in order to create a maximum of synergies in assisting partner governments in designing and implementing favourable regulatory and legal framework conditions. Press contacts: - KfW: Dr. Charis Pöthig – charis.pöthig@kfw.de - AFD: Ms. Magali Mevellec – mevellecm@afd.fr - CAF: Mr. Mauricio Garrón – Mgarron@caf.com - EIB: Mr. Richard Willis - Willis@eib.org - European Commission: Ms. Nicole Bockstaller - Nicole.Bockstaller@ec.europa.eu - IDB: Mr. Augustín Cáceres – Augustinc@iadb.org - JICA: Ms. Chie Nanataki - Nanataki.Chie@jica.go.jp 2PDF Image | Geothermal Development Facility (GDF) for Latin America
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