Webinar Recording – Risk finance for geothermal resource development, Julian Richardson of Parhelion
A great insight into geothermal risk insurance and a planned fund to help get geothermal projects off the ground provided in this recording of a webinar presentation with Julian Richardson of UK-based insurance business Parhelion.
In this webinar earlier this month, it was great to hear on the approach to risk finance for geothermal resource development. As part of the IGC webinar series by Enerchange and ThinkGeoEnergy, we were able to feature by Julian Richardson, CEO of Parhelion Underwriting and a climate finance and insurance expert.
The company has developed a Geothermal Resource Risk Insurance that covers a pre-determined number of wells with a pre-agreed drilling and testing schedule. This insurance product is set up to remove reservoir output risk during the initial drilling development phase and thereby become more attractive to equity investors at this stage of development. In this webinar, we learned more about the company’s efforts to insure geothermal projects as well as its GeoFutures Fund, a proposed USD 150 million fund that will be mixing direct finance, premium finance and grant/ technical assistance to geothermal development in developing countries.