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GEORISK SIGNED

Developing geothermal and renewable energy projects by mitigating their risks.

Total Cost €

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EC-Contrib. €

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Partnership

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Project "GEORISK" data sheet

The following table provides information about the project.

Coordinator
EUROPEAN GEOTHERMAL ENERGY COUNCIL 

Organization address
address: 2 PLACE DU CHAMP DE MARS
city: BRUXELLES
postcode: 1050
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Belgium [BE]
 Total cost 2˙184˙118 €
 EC max contribution 2˙184˙118 € (100%)
 Programme 1. H2020-EU.3.3.2. (Low-cost, low-carbon energy supply)
2. H2020-EU.3.3.7. (Market uptake of energy innovation - building on Intelligent Energy Europe)
3. H2020-EU.3.3.3. (Alternative fuels and mobile energy sources)
 Code Call H2020-LC-SC3-2018-RES-SingleStage
 Funding Scheme CSA
 Starting year 2018
 Duration (year-month-day) from 2018-10-01   to  2021-03-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    EUROPEAN GEOTHERMAL ENERGY COUNCIL BE (BRUXELLES) coordinator 281˙522.00
2    GEC-CO GLOBAL ENGINEERING & CONSULTING - COMPANY GMBH DE (NEUSAESS) participant 254˙515.00
3    BUREAU DE RECHERCHES GEOLOGIQUES ET MINIERES FR (ORLEANS) participant 234˙816.00
4    GEOTHERMIE-SCHWEIZ CH (LIEBEFELD) participant 222˙400.00
5    ASSOCIATION FRANCAISE DES PROFESSIONNELS DE LA GEOTHERMIE FR (PARIS) participant 215˙000.00
6    BUNDESVERBAND GEOTHERMIE EV DE (BERLIN) participant 176˙250.00
7    CENTRE FOR RENEWABLE ENERGY SOURCES AND SAVING FONDATION EL (PIKERMI) participant 163˙125.00
8    INSTYTUT GOSPODARKI SUROWCAMI MINERALNYMI I ENERGIA PAN PL (KRAKOW) participant 131˙850.00
9    TURKIYE BILIMSEL VE TEKNOLOJIK ARASTIRMA KURUMU TR (ANKARA) participant 103˙125.00
10    MAGYAR BANYASZATI ES FOLDTANI SZOLGALAT HU (BUDAPEST) participant 84˙600.00
11    JEOTERMAL ELEKTRIK SANTRAL YATIRIMCILARI DERNEGI TR (IZMIR) participant 84˙439.00
12    ANONIMI ETAIRIA DIAXEIRISIS ANANEOSIMON PIGON ENERGEIAS EL (AGIA PARASKEVI) participant 79˙600.00
13    TURKIYE KALKINMA BANKASI ANONIM SIRKETI TR (ANKARA) participant 77˙875.00
14    GEOTERMIA EXPRESSZ MERNOKI TANACSADO IRODA KORLATOLT FELELOSSEGU TARSASAG HU (BUDAPEST) participant 56˙250.00
15    FEDERAL DEPARTMENT FOR ENVIRONMENT, TRANSPORT, ENERGY AND COMMUNICATIONS CH (BERN) participant 18˙750.00

Map

 Project 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.

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The information about "GEORISK" are provided by the European Opendata Portal: CORDIS opendata.

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