News

Webinar – Geothermal Risk Assessment and Risk Mitigation Tools, Feb 26, 2019

GeoRisk Project Website (screenshot)
Alexander Richter 18 Feb 2019

With geothermal project development facing several risky components, the GeoRisk project is looking at geothermal risk assessment and risk mitigation tools - a webinar scheduled for February 26, 2019 will provide details on stakeholder consultation and early results.

The European Geothermal Energy Council (EGEC) has announced a webinar for the GEORISK project on “Geothermal risk assessment and risk mitigation tools: stakeholder consultation and the presentation of early results”

  • Date: Tuesday 26/02/2019
  • Time: 11:00 – 12:00 CET

Geothermal project development faces 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. This resource risk includes:

  • The short-term risk of not finding an economically sustainable geothermal resource after drilling;
  • The long-term risk of the geothermal resource naturally depleting rendering its exploitation economically unprofitable. 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 electricity or h&c project.

Once drilling has taken place, data and measurement reduce the resource risk and make it possible to attract external capital.

The GEORISK project will work to establish risk insurance schemes all over Europe. These schemes have already proven their effectiveness in mitigating the geothermal resource risk in 6 European countries. It appears clear that a risk mitigation scheme must be designed according to the market maturity of the sector.

This webinar will present the preliminary results of the GEORISK project, which is working from October 2018 to prepare a risk register and a risk assessment tool to serve as a technical basis for risk measurement, and to propose risk mitigation tools to establish such insurance schemes at scale, according to best practices.

The webinar will also be open to inputs and questions by participants, which are welcome to provide their perspective or comment on the methodology of the project.

Register here for the webinar.