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Developing geothermal and renewable energy projects by mitigating their risks.

Deliverables

Proposal on how establishing an insurance scheme

Proposal on how establishing an insurance scheme, considering the regulatory framework conditions and the source of fundings.

Report on risk assessment

Assessment of the identified risks to better understand how the risk and the uncertainties are evolving during the development of a geothermal project.

Proposal for a transition in the insurance schemes

Proposal for a transition in the insurance schemes, according to market maturity, setting the conditions needed to switch from a financial instrument to another instrument.

Study on the technical measures

Study on the technical measures (flow rate, reservoir pressure, well-head temperature…) to be considered by the insurance scheme in each target countries

Plan for ‘dissemination and exploitation’

Plan for ‘dissemination and exploitation’ of project results with a coordinated communication and dissemination strategy, with key actors in markets beyond the six key countries identified.

Report from national workshops

Eight workshop organised in each country, included by EGEC in Brussels, to present the GEORISK register to geothermal stakeholders and representatives from other RES.

Report on consultation meetings and workshop

Individual meetings in each country and a European workshop in Brussels organised by EGEC, to test GEORISK proposal by presenting various business scenarios with use of data delivered by operators, to simulate the transition from one financial instrument to another and test the impacts of the transition on the project.

Risk register

Context and Identification of potential risks, including the typology of projects and the main risk factors to be taken into account in the assessment

Existing insurance schemes

Report presenting in details the existing national and regional “insurance” systems dealing with the resource and technical risks in Europe and Globally.

GEOriskREPORT

Based on the assessment, an online tool to present risks to financial institutions, insurance brokers, authorities etc It include a classification of projects based on regions / depth / type (hydrothermal / petrothermal / EGS and Electricity / Heat) and a globally applicable risk reporting code

Helpdesk for public authorities

Helpdesk with materials for accompanying decision-makers and financers in establishing an insurance scheme.

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