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Developing geothermal and renewable energy projects by mitigating their risks.

Objective

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. The geological 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, in situ pump tests, temperature and hydrological measurements then reduce the resource risk and make it possible to attract external capital. Risk insurance Funds for the geological risk already exist in some European countries (France, Germany, Iceland, The Netherlands, Denmark and Switzerland). The geological risk is a common issue all over Europe. With the notable exception of these six countries, project developers have very little capability to manage this financial risk. GEORISK project will work to establish such 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.

Call for proposal

H2020-LC-SC3-2018-RES-SingleStage
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Coordinator

EUROPEAN GEOTHERMAL ENERGY COUNCIL
Address
2 Place Du Champ De Mars
1050 Bruxelles
Belgium
Activity type
Other
EU contribution
€ 281 522,50

Participants (14)

ASSOCIATION FRANCAISE DES PROFESSIONNELS DE LA GEOTHERMIE
France
EU contribution
€ 215 000
Address
77 Rue Claude Bernard
75005 Paris
Activity type
Other
BUREAU DE RECHERCHES GEOLOGIQUES ET MINIERES
France
EU contribution
€ 234 816
Address
3 Av Claude Guillemin
45060 Orleans
Activity type
Research Organisations
TURKIYE BILIMSEL VE TEKNOLOJIK ARASTIRMA KURUMU
Turkey
EU contribution
€ 103 125
Address
Ataturk Bulvari 221
06100 Ankara
Activity type
Research Organisations
JEOTERMAL ELEKTRIK SANTRAL YATIRIMCILARI DERNEGI
Turkey
EU contribution
€ 84 439,88
Address
1203/11 Sok No 3 D 4/409 Yenisehi Konak
35110 Izmir
Activity type
Other
GEOTERMIA EXPRESSZ MERNOKI TANACSADO IRODA KORLATOLT FELELOSSEGU TARSASAG
Hungary
EU contribution
€ 56 250
Address
Hant Utca 26/B
1223 Budapest
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
MAGYAR BANYASZATI ES FOLDTANI SZOLGALAT
Hungary
EU contribution
€ 84 600
Address
Columbus Utca 17 23
1145 Budapest
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
INSTYTUT GOSPODARKI SUROWCAMI MINERALNYMI I ENERGIA PAN
Poland
EU contribution
€ 131 850
Address
Ul. Jozefa Wybickiego 7A
31 261 Krakow
Activity type
Research Organisations
CENTRE FOR RENEWABLE ENERGY SOURCES AND SAVING FONDATION
Greece
EU contribution
€ 163 125
Address
Marathonos 19Th Km
19009 Pikermi
Activity type
Research Organisations
ANONIMI ETAIRIA DIAXEIRISIS ANANEOSIMON PIGON ENERGEIAS
Greece
EU contribution
€ 79 600
Address
Kapodistriou 3,
15343 Agia Paraskevi
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
FEDERAL DEPARTMENT FOR ENVIRONMENT, TRANSPORT, ENERGY AND COMMUNICATIONS
Switzerland
EU contribution
€ 18 750
Address
Bundeshaus Nord
3003 Bern
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
GEC-CO GLOBAL ENGINEERING & CONSULTING - COMPANY GMBH
Germany
EU contribution
€ 254 515
Address
Sterzinger Strasse 4
86356 Neusaess
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
BUNDESVERBAND GEOTHERMIE EV
Germany
EU contribution
€ 176 250
Address
Albrechtstrasse 22A
10117 Berlin
Activity type
Other
TURKIYE KALKINMA BANKASI ANONIM SIRKETI
Turkey
EU contribution
€ 77 875
Address
Izmir Caddesi No:35 Cankaya
06440 Ankara
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
GEOTHERMIE-SCHWEIZ
Switzerland
EU contribution
€ 222 400
Address
Waldeggstrasse 41
3097 Liebefeld
Activity type
Other