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Turkey Geothermal Risk Sharing Mechanism, Application Workshop – 5 July 2018, Izmir

KOC-1 drill site at Canakkale, Turkey (source: Transmark)
Alexander Richter 20 Jun 2018

The Turkey Risk Sharing Mechanism program will hold an application workshop on July 5, 2018 in Izmir/ Turkey, at which point a 7-week application period will commence for the program. The RSM aims to increase private sector investment in geothermal exploration drilling in Turkey.

The Turkey Geothermal Risk Sharing Mechanism, set up by the World Bank with funding by the Climate Technology Fund to the Government, under the implementing agency of the Development Bank of Turkey (TKB), aims to increase private sector investment in geothermal exploration drilling in Turkey.

The program consists of a mechanism through which the developer’s exploratory drilling cost is substantially reduced in the event of an exploratory drilling failure.

This will be done by providing reimbursement of a percentage of the private investor’s exploratory drilling costs when a well is judged as unsuccessful based on preset conditions that are established in line with the developer’s business plan for the resource.

Under its first Call for Expressions of Interests (details here), the operating entities of AF, Verkís and ÍSOR are now holding a Application Workshop on July 5, 2018 in Izmir/ Turkey.

During the workshop, details of the requested applications to the RSM program will be presented, and a 7-week application period commences.

The Risk Sharing Mechanism was introduced at the IGC Turkey geothermal congress in Ankara, Turkey in March 2018.

Source: Kalkinma/ Development Bank of Turkey