GEOFAR News

WGC 2010 – Presentation of GEOFAR

GEOTHERMAL EVENTS

Wednesday, May 05, 2010


The Erlangen AG represented GEOFAR at the World Geothermal Congress 2010 in Bali, Indonesia. Marco Wendel made a presentation on the GEOFAR analysis on financial barriers and presented the solution GEOFAR proposes, the Geothermal Risk Mitigation System (GeoRIMI).

A total number of 160 interested congress participants joined the GEOFAR presentation. The feedback was merely positive and the necessity of implementing a risk mitigation system for early phases of geothermal projects (from exploration to drilling stage) was agreed by the European stakeholders.

During discussion it became visible that in several other countries/regions such systems are already under implementation like in Indonesia or in the best case have already been implemented. Several stakeholders from regions currently lacking a geothermal risk mitigation system have been very interested in the systematic and asked for support in implementing such a system.

During the poster presentation several representatives from the business and finance sector wanted to know more about GEOFAR and stressed again the necessity of implementation in order to boost the geothermal sector in Europe. Marco Wendel sees the participation of GEOFAR at the World Geothermal Congress 2010 as success as GEOFAR was presented to a large audience and received positive feedback.

The implementation of GeoRIMI was also mentioned (in another speech) as crucial for the future development of the geothermal sector. This shows that GEOFAR is on track.