Geothermal Risk Mitigation Facility for Latin America
Rödl & Partner, the leader of a consortium consisting of Rödl & Partner, GTN, GTN LA, Mannvit and BMAJ (Chilean legal firm), has signed a contract for the preparation of a development fund for geothermal projects in Latin America with CAF (development bank of Latin America) and KfW (German development bank). The preparation is for the first multi-donor climate initiative to promote geothermal energy in Latin America. The fund will help project developers overcome the high investment costs and risks associated with the exploration phase, which represent one of the greatest barrier in many projects.
GTN/GTN LA and Mannvit are responsible for the technical part and contribute their experience for the definition of the criteria for successful drilling with due consideration of the specific geological and technical conditions existing in Latin America. The participation in this project which is crucial for the development of geothermal energy use in South America will further strengthen the position of GTN/GTN LA and Mannvit in this important market for geothermal energy development.