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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-SC3-2018-2019-2020

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Sub call

H2020-LC-SC3-2018-RES-SingleStage

Coordinator

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

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Region
Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest Région de Bruxelles-Capitale/ Brussels Hoofdstedelijk Gewest Arr. de Bruxelles-Capitale/Arr. Brussel-Hoofdstad
Activity type
Other
Non-EU contribution
€ 0,00

Participants (14)

ASSOCIATION FRANCAISE DES PROFESSIONNELS DE LA GEOTHERMIE
France
Net EU contribution
€ 215 000,00
Address
77 Rue Claude Bernard
75005 Paris

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Region
Ile-de-France Ile-de-France Paris
Activity type
Other
Non-EU contribution
€ 0,00
BUREAU DE RECHERCHES GEOLOGIQUES ET MINIERES
France
Net EU contribution
€ 234 816,00
Address
3 Av Claude Guillemin
45060 Orleans

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Region
Centre — Val de Loire Centre — Val de Loire Loiret
Activity type
Research Organisations
Non-EU contribution
€ 0,00
TURKIYE BILIMSEL VE TEKNOLOJIK ARASTIRMA KURUMU
Turkey
Net EU contribution
€ 103 125,00
Address
Ataturk Bulvari 221
06100 Ankara

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Region
Batı Anadolu Ankara Ankara
Activity type
Research Organisations
Non-EU contribution
€ 0,00
JEOTERMAL ELEKTRIK SANTRAL YATIRIMCILARI DERNEGI
Turkey
Net EU contribution
€ 84 439,88
Address
1203/11 Sok No 3 D 4/409 Yenisehi Konak
35110 Izmir

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Region
Ege İzmir İzmir
Activity type
Other
Non-EU contribution
€ 0,00
GEOTERMIA EXPRESSZ MERNOKI TANACSADO IRODA KORLATOLT FELELOSSEGU TARSASAG
Hungary
Net EU contribution
€ 56 250,00
Address
Hant Utca 26/b
1223 Budapest

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Közép-Magyarország Budapest Budapest
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00
MAGYAR BANYASZATI ES FOLDTANI SZOLGALAT
Hungary
Net EU contribution
€ 84 600,00
Address
Columbus Utca 17 23
1145 Budapest

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Region
Közép-Magyarország Budapest Budapest
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
Non-EU contribution
€ 0,00
INSTYTUT GOSPODARKI SUROWCAMI MINERALNYMI I ENERGIA PAN
Poland
Net EU contribution
€ 131 850,00
Address
Ul. Jozefa Wybickiego 7a
31 261 Krakow

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Region
Makroregion południowy Małopolskie Miasto Kraków
Activity type
Research Organisations
Non-EU contribution
€ 0,00
CENTRE FOR RENEWABLE ENERGY SOURCES AND SAVING FONDATION
Greece
Net EU contribution
€ 163 125,00
Address
Marathonos 19th Km
19009 Pikermi

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Region
Ανατολική Αττική Aττική Αττική
Activity type
Research Organisations
Non-EU contribution
€ 0,00
ANONIMI ETAIRIA DIAXEIRISIS ANANEOSIMON PIGON ENERGEIAS
Greece
Net EU contribution
€ 79 600,00
Address
Kapodistriou 3,
15343 Agia Paraskevi

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Region
Βόρειος Τομέας Αθηνών Aττική Αττική
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00
FEDERAL DEPARTMENT FOR ENVIRONMENT, TRANSPORT, ENERGY AND COMMUNICATIONS
Switzerland
Net EU contribution
€ 18 750,00
Address
Bundeshaus Nord
3003 Bern

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Region
Schweiz/Suisse/Svizzera Espace Mittelland Bern / Berne
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
Non-EU contribution
€ 0,00
GEC-CO GLOBAL ENGINEERING & CONSULTING - COMPANY GMBH
Germany
Net EU contribution
€ 254 515,00
Address
Sterzinger Strasse 4
86356 Neusaess

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Bayern Schwaben Augsburg, Landkreis
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00
BUNDESVERBAND GEOTHERMIE EV
Germany
Net EU contribution
€ 176 250,00
Address
Albrechtstrasse 22a
10117 Berlin

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Region
Berlin Berlin Berlin
Activity type
Other
Non-EU contribution
€ 0,00
TURKIYE KALKINMA BANKASI ANONIM SIRKETI
Turkey
Net EU contribution
€ 77 875,00
Address
Izmir Caddesi No:35 Cankaya
06440 Ankara

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Region
Batı Anadolu Ankara Ankara
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 0,00
GEOTHERMIE-SCHWEIZ
Switzerland
Net EU contribution
€ 222 400,00
Address
Waldeggstrasse 41
3097 Liebefeld

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Region
Schweiz/Suisse/Svizzera Espace Mittelland Bern / Berne
Activity type
Other
Non-EU contribution
€ 0,00