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

The final report of GEORISK has been published. The main content of the publication is: - The...

Risk mitigation schemes are required to support the development of renewable energy technologies and...

Geothermal energy is one of the least exploited renewable energy sources in Hungary, but its broader...

Several European countries have significant untapped geothermal energy potential, especially for spa...

Events

LOCATION
online

DATE
09 September 2021 -
09 August 2021

TIME
14:00 - 16:00

Best practices to accelerate investments in geothermal projects in Europe WEBINAR agenda Thurs...

LOCATION
Brussels

DATE
28 June 2021

TIME
14:00 - 16:30

Geothermal energy is a source of renewable heating, cooling, baseload electricity and lithium, criti...

LOCATION
Offenburg

DATE
25 June 2021

TIME
10:30 - 11:30

Geothermal energy is a source of renewable heating, cooling, baseload electricity and lithium, criti...

LOCATION
Brussels

DATE
06 October 2020

TIME
11:00 - 12:30

The GEORISK project organised this webinar as a part of the European Week of Regions and Cities. Inv...

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.