Our Projects

Geofund

The Geothermal Energy Development Program (Geofund) aims to systematically promote the use of geothermal energy in the Europe and Central Asia (ECA) region by removing barriers to the development of geothermal energy. This will lead to greater diversification in energy use and an increase in the demand and supply for geothermal energy projects. The project is a joint collaboration with the World Bank, and is supported with USD$25M in Global Environment Facility (GEF) funding. The current focus of the Geothermal Energy Development Program is Russia, where the program intends to revive the geothermal sector by moving its development towards a market based, private sector approach.

Geofund interventions will seek to:

• improve the performance of existing geothermal facilities through renovation of existing facilities, and
• develop bankable business plans for Greenfield facilities where the resources are promising.

Geofund will offer technical assistance (TA), direct investment funding and Geological Risk Insurance.



Project contacts:

Sandeep Kohli Senior Projects Officer Telephone: (202) 473-5317 Email: SKohli@ifc.org

Shinya Nishimura Investment Officer Telephone: (202) 458-9063 Email: SNishimura@ifc.org