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Project investment guarantee from GTZ development agency
1 February 2003
Germany's international development agency Gesellschaft für Technische Zusammenarbeit (GTZ) is offering a limited guarantee to participants in its Public-Private Partnership Program. GTZ, whose Sustainable Energy Systems department provides technical and advisory support for renewable energy projects, is pledging to partly compensate participants who invest time and effort in projects that come to nothing. The aim is to reduce risk for participants and encourage private investors to undertake wind energy projects in developing countries. The guarantee means that if the results of a feasibility study for a wind station do not look promising, the developer can claim back 33% of the costs of the study, or 50% if it has commissioned another company to carry out the work. The upper limit for reimbursement is EUR 100,000. The new guarantee differs from that in GTZ's existing Terna program, which currently provides an annual EUR 400,000 for wind plant development, in that no application from the relevant government involved is required. With an annual turnover of EUR 866 million, GTZ shares annual funds of EUR 100 million with German development bank Kreditanstalt fur Wiederaufbau for technical support of renewable energies.
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