News and upcoming events for the Geothermal Development Facility for Latin America



Why not use geothermal energy?
On this Earth Day, we want to take the opportunity to join a global effort to promote the use of geothermal energy.


Date: 2022/04/22

Why not use geothermal energy?

On this Earth Day, we want to take the opportunity to join a global effort to promote the use of geothermal energy as an alternative for generating clean energy and mitigating the effects of climate change.

#ChangeTheFuture #Geothermal #EnergiaGeothermic #UsetheEarthtoSavetheEarth #EarthDay

The Address to send all official documents has changed

Date: 2022/01/20

We have an important announcement for all our applicants, we want to inform you that our address to send all official documents has changed. In the future please address all documents to:

675 N Washington St. #340
Alexandria, VA 22314

Ida Fund Management/GDF
c/o Interlink Capital Strategies

phone: 703 752 5880


GEOLAC 2021 / “8th Geothermal Congress for Latin America and the Caribbean” and 5th GDF Technical Assistance Forum”

Date: 2021/09/13

8th Geothermal Congress for Latin America and the Caribbean

GEOLAC 2021 was held virtually this year. It was a successful and well-attended meeting. On Wednesday, September 8, 2021, as part of GEOLAC, the GDF held a virtual Technical Assistance Forum (TAF). The TAF facilitates the transfer of information between public and private stakeholders concerning relevant policy and regulatory issues. The TAF also provides an update on the GDF.

View the complete presentation – Click Here

The GDF Technical Assistance Forum (TAF)

Date:  2021/08/18

8th Geothermal Congress for Latin America and the Caribbean (GEOLAC)

Join our technical assistance workshop – taking place at the 8th Geothermal Congress for Latin America & the Caribbean (GEOLAC) – to learn more about funding opportunities for geothermal projects. The GDF Technical Assistance Forum (TAF) is scheduled for Wednesday, September 8, 2021, between 4:30 and 6:15 pm.

Carolina Wechsler

With the GDF’s support, the Transmark team has recently completed a successful surface-studies campaign that identified a new prospective geothermal drilling target in the Adobera Valley. Transmark, under its Special Purpose Vehicle Adobera SpA, will now move forward to the deep-exploration stage, with the goal of developing a +9MWe geothermal power plant with a start date of 2023.

Ms. Wechsler holds a BS in geology from the University of Concepción and has been involved in geothermal exploration for the last nine years. As the country manager of Transmark Chile, Carolina Wechsler leads Transmark’s business and exploration activities in Chile.

Rolando Rodríguez

Geotermia Centroamericana (GCA) is developing the El Porvenir geothermal project for the Zacapa area and eastern part of Guatemala. The project has enjoyed the GDF’s financial support since 2017. With continued support from the GDF, El Porvenir has now entered the confirmation-drilling stage, with work scheduled to begin in the fourth quarter of this year. 

Mr. Rodríguez holds a BS in engineering management and petroleum from the University of Missouri, Rolla, and an MBA in finance from Universidad Francisco Marroquín.
Rolando Rodríguez González serves as GCA’s chief advisor on matters concerning the GDF’s support.

For more information, click here


GEOLAC 2020 / “7th Geothermal Congress for Latin America and the Caribbean” and 4th GDF Technical Assistance Forum”

Date: 2020/10/13

7th Geothermal Congress for Latin America and the Caribbean

GEOLAC 2020 was held virtually this year. It was a successful and well-attended meeting. On October 8th, as part of GEOLAC, the GDF held a virtual Technical Assistance Forum (TAF) that was arguably the best attended to date. The TAF facilitates the transfer of information between public and private stakeholders concerning relevant policy and regulatory issues. The TAF also provides an update on the GDF. KfW Bank provided new and exciting information on the GDF including the announcement of an increase in funding intensity for contingency drilling grants which will begin with Call 6 on November 2, 2020.


View the complete presentation – Click Here

GDF Latin America Foundation (GDF)
The funding intensity for drilling grants will be increased

Date:  2020/10/08

The funding intensity for drilling grants will be increased beginning with Call 6

The new funding intensity will be 70% versus the existing 40% and the maximum contingent grant amount will be raised to 9.8Million Euro.

Read the complete press release – Click Here

GDF Latin America Foundation (GDF)
Relevant policy holding back geothermal in Latin America

Date:  2020/05/06

Read about the difficulties facing geothermal development in Latin America and what the GDF together with KFW on
behalf of the German Federal Government and the European Union are doing to improve the future of Geothermal in the region.

We invite you to read Mr. Chris McCormick’s interview recently published in
Our Chief Investment Officer,
Chris McCormick spoke with Think Geoenergy and outlined how insufficient policies across the region have affected geothermal development in the sector.

We would like to note that the KfW sponsorship of the GDF is funded by both the EU and the German Federal Government through BMZ.

Read the complete interview – Click Here

GDF Latin America Foundation (GDF)
Technical Assistance Strategy and Recommendations – Press Release

Date:  2020/02/11

A lunch with energy ministers from Latin America and their designates was organized in Santiago, Chile on July 18,
2019 during GEOLAC 2019 to reinforce GDF’s ( commitment to the strong belief in the potential
of geothermal power in the target countries of the GDF for Latin America. After more than 3 years of operation,
and based on four application cycles to GDF, we feel compelled to summarize experiences gained and the
challenges perceived to a successful implementation of geothermal projects.

To read the complete Press Release, click here


GEOLAC 2019 / “6th Geothermal Congress for Latin America and the Caribbean”

Date:  2019/01/30

6th Geothermal Congress for Latin America and the Caribbean

Dates and a venue for GEOLAC 2019 will be announced shortly. During this meeting, GDF will hold the annual Technical Assistance Forum (TAF), which will help public and private stakeholders in how best to access GDF funding and encourage discussion on a range geothermal development issues.

For more information, click here


Geothermal Development Facility for Latin America: Second Call Results // Press Release 

Date:  2018/10/25

The Geothermal Development Facility for Latin America’s (GDF) second call has concluded this October with an announcement of grant awards. In conjunction with the awarding of successful grantees, the GDF also organized and participated in several conferences supporting energy reform, including a technical assistance forum in conjunction with the GEOLAC 2018 conference in Mexico City, where it was awarded the Best Financing Program award for the second year in a row.

​​​​​​​The GDF is pleased to announce seven grantees spanning across Central and South America. As a result of this initiative, surface studies in amounts of up to €600K will be funded in Chile, Peru, Nicaragua, and Guatemala, while exploratory drilling campaigns up to €5.8M will be funded in Chile and Guatemala. 


These seven projects were chosen from a pool of fifteen applications. Similarly to the first round, the GDF sought out projects with the highest viability for geothermal energy production, and which will not only benefit local economies by creating jobs but will also benefit the environment by decreasing carbon dioxide and other harmful emissions. The fifteen applicants were evaluated in an exhaustive two-step process, consisting of both technical and financial reviews. The seven chosen projects are now invited to sign grant agreements with GDF. 

The €13M in total grant awards approved during this second call comprises approximately 23 percent of the GDF’s original €55M fund, which is expected to catalyze €1.6B in future geothermal investments in Latin American. The total anticipated amount of energy generation supported through the first and second calls is expected to reach 520MW. Furthermore, with a new, third call for applications scheduled in December 2018, the GDF anticipates surpassing its original goal of seeding 350 MW of geothermal power in the region. Due to its success and to continuing interest in—and government reforms toward—renewable baseload and geothermal energy, the GDF will continue to discuss increasing its funding beyond the initial €55M seeded by KfW and the EU.

For more information, email, or contact Alan Beard at: 703-752-5880, ext. 115.    

For more information, click here

 GDF Latin America GEOLAC Award winner.

Date:  2018/07/17

Place: Mexico City, Mexico.

We are proud to announce GDF Latin America was awarded the first GEOLAC prize for best financing program in geothermal within Latin America.

The Geothermal Congress for Latin America and the Caribbean (GEOLAC), the largest annual gathering of the regional geothermal market, today announced five winners for its first annual GEOLAC Industry Awards. The winners were recognized on stage at the 5th GEOLAC in Mexico City.

For more information, click here

Annual Meeting – Geothermal Resources Council

Date: 2018/10/14 to 2018/10/17

Place: Reno, Nevada, USA

GRC Annual Meeting & Expo

The GDF will have a booth at the annual meeting of the GRC, where all interested parties can receive more information about the fund’s activities. The GDF will also present a document that will compare the GRMF fund in East Africa and the GDF fund in Latin America (both initiatives of KfW-EU for geothermal development).

For more information, click here


Date: 2018/07/17 to 2018/07/18

Place: Mexico City, Mexico

5th Geothermal Congress for Latin America and the Caribbean

The 5th meeting of the Geothermal Congress for Latin America & the Caribbean (GEOLAC) will take place in Mexico City on July 17-18, 2018. GDF will hold the annual Technical Assistance Forum (TAF), which will aim to help guide public and private stakeholders in how best to access GDF funding and encourage discussion on a range geothermal development issues.

For more information, click here

Five trends driving the LAC geothermal market

Date: 2018/05/16

Original article by:

The LAC geothermal market is heating up — but it’s a slow burn. With only one operating plant each in the Caribbean and South America, and a handful in Central America and Mexico, this region of the world still holds enormous, largely untapped potential for geothermal market growth. Financing, policy, and resource risk continue, however, to be hurdles in the race to the finish line.
Challenges may abound, but there are promising indicators for what’s to come. We asked industry experts to weigh in on the trends driving the geothermal LAC markets, and what’s needed to move the needle.

1. Markets that value baseload capacity will be quicker to develop
It’s a PV world, but that doesn’t mean geothermal isn’t valuable. In some regions, solar PV is the lowest cost renewable, but industry advocates want geothermal to be valued for its capability to run 24/7. Alex Richter, Founder and Principal of ThinkGeoEnergy, suggests that the industry will be pushing this attribute, saying, “the baseload capacity that geothermal energy provides is coming into focus again.” Christiaan Gischler, Lead Energy Specialist at the Inter-American Development Bank, agrees. “Many countries in the region are developing renewables and solar and wind are beating geothermal because there is no acknowledgement of intermittency,” says Gischler. “These countries are not recognizing the real value that geothermal has to offer.”
How to solve this issue? The responsibility falls to governments to develop the right policies, according to Gonzalo Torres, Country Head for Chile and Peru for Energy Development Corporation, one of the world’s leading developers of geothermal. “The rise of [intermittent] renewables makes it necessary and urgent to implement public policies that sustain and incentivize the use of geothermal energy,” says Torres.
If countries over-develop intermittents without addressing grid stability issues there could be serious implications, says Chris McCormick, CIO for the Geothermal Development Facility for Latin America (GDF). “The countries that are proactively addressing baseload and intermittent issues will reduce costs and avoid adverse social impacts,” he says.
Caribbean islands have been quicker to acknowledge this issue than their Latin American counterparts, simply due to the size and interconnectivity of electric grids. In Caribbean islands with smaller grids, “even modest sized PV or wind projects will distort their profiles and increase the need for dispatchable and baseload power,” says Kevin Wallace, Senior Project Manager for Power Engineers. “Markets in larger and interconnected countries like Mexico will be slower to recognize this need to properly price such power and won’t have to until solar penetration is high.”

2. Projects need support from the start
The long and expensive early stages of exploration are finding relief in new regional programs designed to mitigate some of the upfront risk. “There is a growing realization by international and regional financial institutions, including the World Bank, that providing access to concessional funding and technical assistance to assist countries in overcoming these hurdles can help facilitate scaling up geothermal development in the region,” says Laura Berman, Energy Specialist in the Energy and Extractives Global Practice of the World Bank. Wallace agrees, saying, “These programs and others can help spur early phase development, drilling, and capacity building. The first project is always the toughest and then everyone benefits from lessons learned.”
The benefits don’t stop there. McCormick pointed to the momentum these programs are likely to create. “Once exploration drilling costs have been addressed, more capital will become available to fund exploration,” he says. “This includes capital from private entities looking to establish a portfolio approach to risk mitigation.”
Until early exploration costs are addressed, private-sector firms can’t — or won’t — put their own equity on the line. Gischler flags the crucial role climate funds can play. “They help to unlock the potential,” he says. “Without these funds, it’s really painful.”
For Caribbean islands who decide to prioritize geothermal, funds are available from, among others, the Caribbean Development Bank (CDB). The CDB’s Tessa Williams-Robertson anticipates that the Bank “will continue to mobilize concessional resources for island geothermal programs. Not only for investment, but also for capacity building.” This range and depth of support is crucial for countries starting from zero and endeavoring to build vastly complicated energy projects requiring technical, financial, and political know-how.

3. International community is key for the Caribbean
Geothermal development in the Eastern Caribbean islands faces distinct challenges. Despite significant potential, the islands have relatively small electricity grids — anywhere from 8-75 MW peak capacity — and have struggled to secure developers and financing. The Caribbean has one operating plant in Guadeloupe, and a handful of other projects at various stages of development, with the most advanced projects located in Montserrat, Dominica, Nevis, and St. Vincent and the Grenadines.
These projects won’t get off the ground without help. “International support will keep the focus on geothermal development in the Caribbean, and continue to push it,” says Richter. The international community, and in particular the multilaterals, have a critical role to play in all stages of development as Caribbean islands ramp up their institutional and technical capacity and develop the tools necessary to build a geothermal industry.

4. Countries transitioning to lower carbon and climate resilient energy matrix need to consider geothermal
As Latin America and the Caribbean endeavor to meet global and regional commitments to lower carbon, they will find it is prudent to make the switch to clean energy. At the same time, GDP growth will mean more demand on the grid, and how countries meet that demand is critical. Torres of EDC remarks on the importance of switching to renewables as countries experience higher electrification needs. “It is an effort in vain to sell electric cars if the electricity used to charge them is obtained from fossil fuels,” says Torres. “Geothermal energy will play a crucial role in the generation of 24/7 reliable and clean energy for high-consumption production processes.”
Of course, geothermal is not the only baseload renewable available. Hydropower has long been important to the regional energy matrix. However, according to Gischler, its status as climate resilient is debatable. “Hydro is experiencing the knock-on effects of climate change — from droughts to excessive rain,” says Gischler. He also makes the point (as do others) that climate adaptation funds should recognize geothermal energy’s relative environmentally benign status and actively participate in financing projects.

5. Capacity building is the way forward
The underlying theme of these trends is the need for continued capacity building at all levels. It doesn’t happen overnight. Properly valuing baseload energy and shifting to a low-carbon economy can’t be done without building cross-sector institutional knowledge. It’s true that many developing countries simply don’t have the institutional capacity to undertake complex geothermal projects. The value of support from the international community and programs — from GDF and MiRiG to stakeholder gatherings like GEOLAC — isn’t just in their financial lift, but in the focus on developing tools and methodologies and building cooperation and collaboration at all stakeholder levels.
It’s a competitive world out there. Solar and storage are on a roll. Geothermal is waiting in the wings but it won’t take center stage until the industry as a whole succeeds in changing the mindset of the region. Geothermal today is not a go-to baseload resource. But it deserves a second look and, many would argue, a much more significant role in the region’s generation mix.

Link to original article:

A great achievement for the progress of Geothermal in Latin America

Date:  2018/03/09

Visit the EGEC website for more (Click Here)

IDA Fund Management, LLC (IDA), consisting of Dewhurst Group, LLC and Interlink Geothermal, LLC, is very proud to announce that the Geothermal Development facility (GDF) has been awarded the European Geothermal Innovation Award for 2018. The GDF is a risk mitigation initiative within Latin America created by KfW Bank within Germany and the European Union. The GDF is managed by IDA. The GDF was competitively selected for the award from 19 nominated projects.

GDF is the first multi-donor climate initiative offering risk mitigation for surface studies and confirmation drillings during the early exploration phase of geothermal development. There are 10 eligible countries within Latin America. A total of 120 projects have expressed interest in the GDF to date. Eight projects were selected for grant awards during the first call, completed in October 2017. If fully developed, this represents a potential of 285MWe of new geothermal power development for the region. GDF awarded approximately €22M in grant funding which could yield €1.6billion in new investment for Latin America.

The second call is currently ongoing. Projects representing more than 705MWe of new electricity have expressed an interest in GDF grants. More than €20M in grant funding has again been requested. The second call, if fully funded, would represent a leveraged need for €3.8Billion in new investments.

Read the official EGEC Press Release

The Second Call for Expressions of Interest for the GDF has ended

Date: 2018/02/01

Thank you very much for applying to the EOI phase of this call of the GDF. We received 16 applications from 8 of the 10 eligible countries for both surface studies and confirmation drilling. Do not hesitate to contact us if you need any more information.

Thank you to Everyone who applied



Date: 2017/04/25 to 2017/04/26

GEOLAC forum (Geothermal Congress for Latin America & the Caribbean) in partnership with the World Bank and New Energy Finance, gathers the leading stakeholders in geothermal development within the region – including governments, utilities, multi-laterals, developers, capital market providers and more.


GDF Introductory Pre-application Workshop for Prospective Applicants

Date: 2016/10/23 to 2016/10/26

GDF introductory pre-application workshop for prospective applicants. The event will be held at the Geothermal Energy Association (GEA) Geothermal Energy Expo 2016, at the Sacramento Convention Center, Sacramento, CA.

We are very much looking forward to your participation. Representatives from both the private and public sectors are welcome. Please register for attendance to the EXPO. No additional cost for the workshop.

Project Introductions

Date: 2016/04/25

KfW introduces the GDF as well as the Fund Managers, IDA Fund Management, LLC, and the key individuals associated with the Facility.

Download KfW PowerPoint ›
Download official press release ›


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