DEVELOPING GEOTHERMAL PROJECTS BY MITIGATING RISKS WITH FINANCIAL INSTRUMENTS

The GEORISK project works to establish risk insurance all over Europe and in some key target third countries to cover risks associated with the development and the operation of a deep geothermal plant.

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GEORISK

Geothermal project development has several risky components, the most important one being the resource risk. Beyond exploration, the bankability of a geothermal project is threatened by this geological risk.

Risk insurance Funds for the geological risk already exist in some European countries (France, Germany, Iceland, The Netherlands, Denmark and Switzerland). The geological risk is a common issue all over the world. Outside Europe, the Geothermal Development Facility (GDF) for Latin America and the Geothermal Risk Mitigation Facility (GRMF) for Africa offer some risk mitigation tools. With the notable exception of these regions, project developers have very little capability to manage this financial risk.

The establishment of such risk insurance all over the world to cover the exploration phase and the first drilling (test) is key for a large development of deep geothermal. But it appears clear that a risk mitigation scheme must be designed, especially with the involvement of private financers, according to the market maturity of the sector in each country and region

The project, coordinated by EGEC, will be on-going for 30 months from October 1, 2018.

News

On November 6th took place a GEORISK International seminar in Izmir, Turkey, attended by more than 1...

GEORISK Workshop ''The right scheme for my market'' took place at Praxisforum Geothermie Bayern in M...

The market for geothermal energy in Europe has enjoyed significant growth for the past 5 years. Toda...

The GEORISK consultation survey is to better understand how the risk and the uncertainties associate...

Events

LOCATION
Brussels

DATE
13 December 2019

TIME
08:30 - 14:30

This seminar is organised as a partnership between the European geothermal industry and European loc...

LOCATION
Izmir

DATE
06 November 2019

TIME

6 November 2019 – from 14h00 to 18h00 + Dinner *simultaneous translation to Turki...

LOCATION
München

DATE
07 October 2019

TIME
14:00 - 18:00

Praxiforum Geothermie.Bayern, 7 October 2019 – 14:00-18:00 Haus der Bayerischen Wirtschaft, Max-J...

LOCATION
Bruxelles

DATE
26 September 2019

TIME
11:00 - 12:00

Praxisforum geothermie Bayern & GEORISK  -- WEBINAR -- Geothermal risk assessment and de-ri...

If you want to read more news about the project please visit our dedicated section

For more events visit the section

Frequently Asked Questions

Yes. The GEORISK results will be published in reports, factsheets and articles. It will also published in peer-reviewed papers and presented at events in Europe and worldwide.