Attracting funding for early-stage development has always been a challenge for developers of geothermal projects. We have seen several approaches to managing the risk either through public or private initiatives.
UK-headquarterd insurance business Parhelion has developed a Geothermal Resource Risk Insurance that covers a pre-determined number of wells with a pre-agreed drilling and testing schedule. Further details here: https://parhelion.co.uk/products/geothermal-resource-risk-insurance/
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 will be learning more about the company’s efforts to insure geothermal projects by Julian Richardson, CEO of Parhelion Underwriting and a climate finance and insurance expert.
To register for the webinar click here: https://www.igc.events/webinar