Implementation period: 2018-10-01 - 2021-03-31
Type: International
Division: Division of Renewable Energy Sources
The GEORISK project aims to develop financial schemes mitigate the impact of the resource risk by spreading it in such a manner that project developers can accept their fair share of it. This mitigation of the risk through financial instruments allows to lower the financial exposure of developers in case of failure to develop a geothermal reservoir.
Until the first borehole has been drilled into the geothermal reservoir, developers cannot be sure about the exact parameters (temperature and flow rate) of the planned geothermal project. Once drilling has taken place, improved knowledge reduces the resource risk and make it possible to attract external capital.
The GEORISK project works to establish such risk insurance all over Europe and in some key target third countries to cover the exploration phase and the first drilling.
GEORISK Project key objectives
GEORISK Project Partners:
Cooperation with entrepreneurs and other entities from the geothermal industry is also planned.
The materials and results of the project are available at – https://www.egec.org/georisk-project/
Risk insurance is a must to develop large geothermal projects – https://www.youtube.com/watch?v=YEVZsWvN_AE
