GDF Latin America
The German Federal Ministry for Economic Cooperation and Development (BMZ), via KfW Entwicklungsbank (KfW), established the Geothermal Development Facility (GDF) for Latin America.
About the GDF for Latin America
The German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU), through KfW Entwicklungsbank (KfW) and jointly with CAF, CABEI, World Bank, ESMAP, IDB, AfD, EIB, JICA, NDF, BGR and GIZ launched the Geothermal Development Facility (GDF) for Latin America in the framework of COP20 in Lima, Peru in December 2014. The GDF is the first multidonor climate initiative to promote geothermal energy within this region. In the past, BMZ, the EU, and DfiD in through KfW established a similar facility in Africa, known as the Geothermal Risk Mitigation Facility for East Africa (GMRF).
The GDF was formally announced by KfW in Reykjavik, Iceland on April 25, 2016, during the World Bank/ESMAP GGDP Roundtable. While the first round of funding (€50M) has taken place, additional funding closures are anticipated over time. The GDF will provide geothermal development support over a ten-year lifespan.
IDA Fund Management, LLC (IDA), a US company located within the greater Washington, DC area, was competitively chosen to manage the GDF. While the main office for the fund is located in the greater Washington, DC area, a geothermal project office is located in Bogotá, Colombia. IDA consists of Interlink Capital Strategies and Dewhurst Group, LLC. Interlink provides financial expertise, while Dewhurst Group focuses on the approval and development of specific geothermal project initiatives identified by applicants.