As part of the recent 2015 budget negotiations, the Danish Parliament has allocated funds to support the development of geothermal energy.
The budget allocations of DKK 60.9 mill (EUR 8 mill) in the period 2015-2017 is intended as a governmental subsidy to establish and partly finance a scheme that will help mature the development of geothermal energy by means of limiting the financial risk for the license owners. The financial scheme will be supported by the etablishment of guidelines and “good practice” for managing geothermal projects
WellPerform has been appointed the task of developing a model for this scheme by the Danish Energy Agency (DEA). The work will be carried out together with Danish Geothermal District Heating, Sandroos Law Firm and GEUS.
The main tasks of the work is to:
- Develop a sustainable model for governmental facilitation of geothermal energy including evaluation of economics, insurances, risk assessments, legal conditions etc.
- Establish guidelines and “good practice” for managing geothermal projects in order to limit financial exposure
The work will be concluded 2nd quarter 2015.