Inter-American Development Bank (IDB) has approved a $108.6m loan aimed at financing up to 300 MW of geothermal capacity in Mexico over 10 years. The Program for Financing and Risk Transfer for Geothermal Energy in Mexico consists of $54.3m financed from the IDB's Ordinary Capital; $51.5m from a contingent recovery grant financed from the Clean Technology Fund; and $2.8m in technical co-operation. The programme will comprise risk mitigation and financing for different phases of the project such as exploration, drilling, field preparation, construction and operation of projects. In addition to this loan, IDA is also supporting an international consortium led by Mexico's National Institute of Hydrocarbons (INAH) that aims to develop a pilot plant with two units producing electricity using heat recovered
Inter-American Development Bank (IDB) has approved a $108.6m loan aimed at financing up to 300 MW of geothermal capacity in Mexico over 10 years. The Program for Financing and Risk Transfer for Geothermal Energy in Mexico consists of $54.3m financed from the IDB's Ordinary Capital; $51.5m from a contingent recovery grant financed from the Clean Technology Fund; and $2.8m in technical co-operation. The programme will comprise risk mitigation and financing for different phases of the project such as exploration, drilling, field preparation, construction and operation of projects. Mexico aims to reduce its carbon emissions by 25% by 2030.