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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.

Study on risk insurance schemes, with corrective measures

A study on the legal, financial and technical issues of the risk insurance schemes related to all target countries, including the potential deep geothermal projects of the following 10 years in the target countries and corrective measures

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

Technical reports on 3 rounds of national workshops

Stakeholder engagement at the national level pivot around 3 workshops per country, so 21 national events in total. Focus will be given to the results of WP3, on existing schemes, definition of parameters, proposals of schemes and proposals for transition.

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.

Policy and Regulatory Mapping Report

Energy policy and regulatory mapping Report, including a list of identified decision-makers and reporting on the contacts established.

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: second version

GEOriskREPORT: second version of the online tool for assessing risks of a specific project, including a set of corrective measures and taking into account the political situation in each country.

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

Final Report

Report presenting the project results from all WPs, The topics covered will include: the geothermal potential in a country with focus on some regions; a scheme presenting the recommendations for financing this sector; a description of the financial tools relevant to mitigating risks and to develop such projects; some best practice applications.

Brochures

4 pages summary of the conclusions from WP2-3-4, with a description of the available uses and technologies and main benefits focusing on the best practice applications.

Website

The project website will be online 3 months after the start of the project. EGEC will continue to update the site throughout the project and will remain ‘live’ for minimum two years after the project is completed. The website includes news, reports results and best practice, allows information exchange between partners, and contains a library of useful information for partners and the public.

Helpdesk for public authorities

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

Video clip

Online advertisements: One video clip on geothermal technologies to be developed at an earlier stage and used as promotional tool throughout the duration of the project (month 18); coming from the best practices to be shown during the workshops

Capacity Building materials

Materials to be used during training webinars and workshops, updating the GEOELEC and GEODH training materials.

Letters asking to establish a risk insurance scheme

An official letter sent to the high-level national decision-taker level, outside the seven directly targeted countries, asking them establishment of an insurance scheme for mitigation geothermal risks

Report and guidelines for countries in EU and outside EU

Report and guidelines for countries in EU and outside EU: a translated brochure with 10 sheets illustrating the way to set up a risk mitigation scheme will be established, highlighting the action to be taken and the mistakes to avoid in order facilitating the geothermal deployment of deep geothermal

Press pack

A series of infographics/factsheets to inform journalists about main results of the GEORISK project.

Open letters asking to establish a risk insurance scheme

An official letter sent around month 20 to the high-level decision-taker level, in each country, asking them to establish an insurance scheme for mitigation geothermal risks

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