Endowed with 50 million euros, of which 25 million are provided by the French Energy Agency ADEME, 15 million by private operators and 10 million by the French Development Bank Caisse des Dépôts, the GEODEEP Fund will ensure project holders against the risk of finding poor geothermal resources. He will indemnify developer against unsuccessful exploration or exploitation drilling.
It represents a real support for developers to engage new investment by decreasing project risk. By securing the financial risk taken by industrialists in deep geothermal projects, this fund will support the development of the industry and especially Enertime with our expertise in ORC and industrial heat pump technology.
See below the press release of ADEME (in French): http://www.presse.ademe.fr/2015/03/geodeep-un-fonds-de-garantie-pour-accompagner-le-developpement-de-la-geothermie.html