In case project developers have been awarded GRMF grants for undertaking drilling programme activities and decide to further develop their project after the initial successful resource exploration, depending on the availability of funds, the GRMF Facility may provide additional financial support in form of a Continuation Premium (CP) grant.
The maximum extent to which financing is provided by the Continuation Premium is restricted according to a double-cap base; whichever is lower applies:
- Up to 30% of the approved eligible and expended costs of continuation activities or,
- Up to 30% of the developer’s share of the eligible and expended costs incurred during the initial drilling and testing programme (excluding infrastructure upgrades).
For more information regarding the continuation premium please consider Chapter 18 of the GRMF Developer Manual.