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 commercialization of the proven geothermal resource, and GDF is a catalyst to reaching a stage where those funds can be mobilized. The foundation is managed by U.S.-based IDA Fund Management, LLC (“IDA”), which is a consortium consisting of Interlink Capital Strategies, the Dewhurst Group and Chris McCormick from Ambata Capital. These are well-known professional service companies actively involved in structured finance in emerging markets and geothermal development, which won an international tender conducted by KfW in the 2nd quarter of 2016. The formal launch of GDF will be in the fourth quarter of 2016, with the first solicitation for proposals to occur before or within the first quarter of 2017.
Alan Beard, Managing Director, Interlink Capital Strategies Mr. Beard has over 20 years of international finance and business development experience. Previously, he was the COO of Delphos International, a Washington, DC-based consulting firm that arranged several billion dollars in government grants, equity, guarantees and loans for more than 700 companies.
Joseph Szamosfalvi, Managing Director, Interlink Capital Strategies Mr. Szamosfalvi is specialized in emerging market project and structured finance underwriting and risk mitigation with a focus on infrastructure, financial and energy sector projects. He has provided fair market value analysis and led or advised on mergers and acquisition projects in the manufacturing, and biofuels industries in the US and abroad (Japan, Malaysia, among others).
Kerry McCallum, Chief Operations Officer, Dewhurst Group Mr. McCallum is specialized in geothermal exploration and development services. He has a broad background in engineering operations with experience in geothermal development and exploration projects in Mexico, Colombia, New Zealand, Australia, the United States and Canada.
 is privately managed, Mauritius-based foundation with an initial capitalization of €50 million.){kind=link}
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 commercialization of the proven geothermal resource, and GDF is a catalyst to reaching a stage where those funds can be mobilized. The foundation is managed by U.S.-based IDA Fund Management, LLC (“IDA”), which is a consortium consisting of Interlink Capital Strategies, the Dewhurst Group and Chris McCormick from Ambata Capital. These are well-known professional service companies actively involved in structured finance in emerging markets and geothermal development, which won an international tender conducted by KfW in the 2nd quarter of 2016. The formal launch of GDF will be in the fourth quarter of 2016, with the first solicitation for proposals to occur before or within the first quarter of 2017.
Alan Beard, Managing Director, Interlink Capital Strategies
Mr. Beard has over 20 years of international finance and business development experience. Previously, he was the COO of Delphos International, a Washington, DC-based consulting firm that arranged several billion dollars in government grants, equity, guarantees and loans for more than 700 companies.
Joseph Szamosfalvi, Managing Director, Interlink Capital Strategies
Mr. Szamosfalvi is specialized in emerging market project and structured finance underwriting and risk mitigation with a focus on infrastructure, financial and energy sector projects. He has provided fair market value analysis and led or advised on mergers and acquisition projects in the manufacturing, and biofuels industries in the US and abroad (Japan, Malaysia, among others).
Kerry McCallum, Chief Operations Officer, Dewhurst Group
Mr. McCallum is specialized in geothermal exploration and development services. He has a broad background in engineering operations with experience in geothermal development and exploration projects in Mexico, Colombia, New Zealand, Australia, the United States and Canada.