Many risks go hand in hand with the planning of a geothermal project. The European Geothermal Energy Council (EGEC) therefore offers a workshop at this year's Geothermie.Bayern practice forum where various aspects of this topic can be discussed. The GEORISK project was launched in 2018 and aims to mitigate the existing financial risks of a geothermal project with the help of an insurance network in such a way that the project developer only bears a reasonable share of it.
Project risk lies in the reservoir
Until the first well has been drilled, the developer has no exact parameters regarding the temperature and flow rate to be encountered. Only when drilling is completed it is possible to apply for external capital based on the advanced knowledge.
GEORISK is now developing an insurance strategy that will help projects in Europe and selected third countries to financially cover the risks that arise during exploration and drilling phases.
The workshop will present the first results of the GEORISK project and consider the prerequisites for changing the insurance system. Several speakers present their approaches, which can be debated in subsequent discussions.
The workshop will be held in English. Registration is necessary.