The final report of GEORISK has been published. The main content of the publication is: - The...
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.
July 7, 2021
Risk mitigation schemes are required to support the development of renewable energy technologies and...
June 11, 2021
Geothermal energy is one of the least exploited renewable energy sources in Hungary, but its broader...
25 June 2021
10:30 - 11:30
Geothermal energy is a source of renewable heating, cooling, baseload electricity and lithium, criti...
06 October 2020
11:00 - 12:30
The GEORISK project organised this webinar as a part of the European Week of Regions and Cities. Inv...
29 April 2020
15:00 - 17:00
Geothermal project development has several risky components, the most important one being the resour...
Geothermal Energy is the energy stored in the form of heat beneath the earth’s surface. This energy can be found at different temperatures in the ground and the ground water, depending on local geology and depth. Beside electric power generation, today geothermal energy is used for district heating, heating and cooling of buildings, and many other direct uses.
Geothermal power. Successful production of electricity from geothermal heat was first achieved in Larderello in Italy, in the early 1900s. Since then, the production of geothermal electricity has steadily increased. Unlike other weather dependant renewables, geothermal is available at any time. Moreover, most recent technological developments, like Enhanced Geothermal Systems, make it now possible to produce geothermal electricity anywhere, and not only in areas with rich geothermal reservoirs. For these reasons, geothermal electricity is key to stabilise the grid and reduce the overall system costs of the future electricity systems. Providing a local source of electricity for the base load will also allow the total energy bill to decrease and make energy more sustainable and affordable. To know more visit www.geoelec.eu
Geothermal district heating and other direct uses. Geothermal district heating, where the geothermal resource is connected to a heat network, is an ongoing European success story, with a rate at which new capacity is installed that is increasing every year. The first regions to install geothermal district heating were those with the best hydrothermal potential, but today, with new technologies and systems, an increasing number of regions are turning to it. Its potential is significant and clear, but a level playing field in the heating sector, with well-established and transparent support schemes, must be put in place to reap the full benefits of the latest technological developments. On other direct-uses applications include desalination, growing plants in greenhouses, drying crops, snow-melting, and several industrial processes. To know more visit www.geodh.eu
Geothermal heat pumps for heating and cooling. Geothermal heat pumps take advantage of subterranean temperatures at shallow depths (between 0 and 500m) to provide heating in the winter and cooling in the summer to homes, businesses and industry. They can use virtually every temperature level in the underground, even if it is only 3-15 °C. Shallow geothermal systems are very versatile and can be adapted to almost every subsurface condition. They can be used in different kind of structures, from small, residential houses to large individual buildings or complexes of buildings, such as offices, hotels, schools, shopping centres, and so on. To know more visit www.heatunderyourfeet.eu
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.