GEORISK Workshop ”The right scheme for my market” took place at Praxisforum Geothermie Bayern in Munich, Germany.
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.
GEORISK project works to establish 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.
The workshop took place in Munich, with the aim of identifying the conditions for a transition in the insurance schemes, according to market maturity for geothermal projects. The workshop aimed creating a discussion between the project partners, the members of the Advisory committee and the other participants to the workshop.
Presentations
Presentation of the GEORISK Project: Philippe Dumas, EGEC
Presentation of the GEORISK Risk Register, risk assessment tool: Ferid Seyidov, GEC-Co
Presentation typology of existing and innovative financial tools: Christian Boissavy, GEODEEP
Establishing a geothermal risk mitigation scheme: Nicole Lupi, SFOE
Conditions for schemes according to market maturity: Ferid Seyidov, GEC-Co
Session 1: 14:00 – 15h45 – Understanding geothermal de-risking
– Introduction: Presentation of the GEORISK Project: Philippe Dumas, EGEC
– Presentation of the GEORISK Risk Register, risk assessment tool: Ferid Seyidov, GEC-Co
– Presentation typology of existing and innovative financial tools: Christian Boissavy, GEODEEP
Feedback from advisory committee member – Matthias Tönnis, Munich RE –a private sector experience in providing geothermal risk mitigation
Discussion with participants
**Break (15h45 – 16h15)
Session 2: 16:15 – 18h00 – Financial instruments as a de-risking tool
– Establishing a geothermal risk mitigation scheme: Nicole Lupi, SFOE
– Conditions for schemes according to market maturity: Ferid Seyidov, GEC-Co
Feedback from advisory committee member – Christian Müller-Wagner, BvG
Discussion with participants
– Presentation Sustainable Finance Regulation proposal, how it affects the Geothermal sector and EGEC position – Thomas Garabetian, EGEC
Feedback from advisory committee
Discussion on Sustainable Finance Regulation
www.georisk-project.eu
