Geothermal risks and mitigation – presentation of GeoRisk Project Workshop

GeoRisk Project website (screenshot)
Alexander Richter 12 Oct 2019

The GeoRisk Project has shared all the presentations of a recent workshop held in Munich/ Germany in conjunction with the annual Praxisforum Geothermie.Bayern.

GEORISK Workshop ”The right scheme for my market” took place at Praxisforum Geothermie Bayern in Munich, Germany, October 2019.

Geothermal project development has several risky components, the most important one being the resource risk. This concerns mainly deep geothermal projects, but some shallow geothermal open systems could also be included in this category of projects. Beyond exploration, the bankability of a geothermal project is threatened by this geological risk.

GEORISK project works to establish risk insurance all over Europe and in some key target third countries to cover the exploration phase and the first drilling (test). It means activities to be funded before financial institutions and IPP funding the confirmation drilling and surface systems. It appears clear that a risk mitigation scheme must be designed according to the market maturity of the sector.

The workshop took place in Munich, with the aim of identifying the conditions for a transition in the insurance schemes, according to market maturity for geothermal projects. The workshop aimed creating a discussion between the project partners, the members of the Advisory committee and the other participants to the workshop.


Presentation of the GEORISK Project: Philippe Dumas, EGEC

Presentation of the GEORISK Risk Register, risk assessment tool: Ferid Seyidov, GEC-Co

Presentation typology of existing and innovative financial tools: Christian Boissavy, GEODEEP

Establishing a geothermal risk mitigation scheme: Nicole Lupi, SFOE

Conditions for schemes according to market maturity: Ferid Seyidov, GEC-Co

Presentation Sustainable Finance Regulation proposal, how it affects the Geothermal sector and EGEC position – Thomas Garabetian, EGEC

Website of the GeoRisk Project

Source: GeoRisk