GEORISK (EU project)
Developing geothermal and renewable energy projects by mitigating their risks
Website / Further Information:

Website: https://cordis.europa.eu/project/rcn/218678/factsheet/en
Project type : Research / Development & Innovation

Project Address:

Bruxelles / Belgium

GeoEnergy Europe Partners:
AFPG
Non GEE Partners:

Turkish Scientific and Technical Research Council (TR), Jeotermal Elektrik Santral Yatirimicilaro (TR), Geotermia Expressz Mernoki (HU), Polish Academy of Sciences MEER (PO), CRES (GR), Anonimi Eltaria Diaxierisis (GR), DETAC (CH) GEC-CO Global Engineering (DE), Turkiye KBAS (TR), Geothermie-Schweitz (CH)

Project Location:

Various sites in Europe

Project achievements and innovative aspects:

NONE GIVEN ON WEBSITE

Background & context:

Geothermal project development has several risky components, the most important one being the resource risk. 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.

Project Summary:

GEORISK project will work 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.

Project Funding:
EU H2020
Period:
2018-2021
Project Budget:
2 184 118,38 €
The GEO-ENERGY EUROPE project is funded by the European Union’s COSME Programme (2014-2020)