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.

The iAMP-Hydro project will improve the digital operation of existing plants through the development of 6 expected results (R) which will collectively form iAMP - a novel intelligent Asset Management Platform (see result R5 in Fig. 1) encompassing secure open and transparent data sharing protocols (R4) and three novel digital solutions: R1. Condition monitoring and predictive maintenance modelling; R2. Ecological status monitoring and water management; R3. Improved weather and flow forecasting. The full package of digital solutions will be validated at a diverse set of five real-world existing hydropower plants producing evidence for policy making to support the green and digital transition of hydropower (R6). The existing plants include differing power capacities, electro-mechanical equipment type, water end-use, flow and head regimes, climatic conditions, and environmental sensitivities (biodiversity). The project will increase the technology competitiveness of existing hydro by reducing O&M costs by 5-10%, improving generation and revenues, increasing flexibility and data-driven decision making in hydropower operations. It will also increase the market penetration of renewables in the grid by 8.4 TWh, and getting closer to the EU 2030 Climate and Energy targets, and EU green deal. iAMP-Hydro will improve environmental and socio-economic sustainability of the existing hydropower fleet by reducing operating costs by €1 billion per annum, reducing CO2 emissions by 1260 tonnes, creating 10,000 future-proof jobs, and enabling environmentally sustainable flow regulation using digital solutions. The project will advance the scientific basis for hydropower digitalization by developing, validating and providing a roadmap for the further development of 5 new digital technologies. We will produce 10 peer reviewed journal publications and 20 conference publications.

The aim of INSULAE is to foster the deployment of innovative solutions for the EU islands decarbonization by developing and demonstrating at three Lighthouse Islands (located in Croatia, in Denmark and in Portugal) a set of interventions linked to seven replicable use cases, whose results will validate an Investment Planning Tool that will be then demonstrated at four Follower Islands (located in Spain, in Germany, in The Netherlands Antilles and in Greece) for the development of four associated Action Plans. The chosen islands are complementary in many aspects: location, size, connection with the mainland, economic development, renewable share and carbon intensity. INSULAE contributes to the Clean Energy for EU Islands Initiative by providing an Investment Planning Tool (IPT) able to create Actions Plans for the islands to generate their own sustainable, low-cost energy. The interventions will prove the ability of the use cases to develop RES-based systems 40-70% cheaper than diesel generation, thus, enabling an average reduction of the fossil fuel consumption of 11% after a large deployment of the use cases in the INSULAE islands. The INSULAE IPT will support the decision maker on the selection and design of cost effective Action Plans looking for the island decarbonization. It will be mainly composed by two modules: the Island modeling assistant and the Scenarisation module. The project team is carefully balanced along all the value chain counting with five public authorities, six energy and water utilities, four technology providers, two energy software developers, six RTOs, one environment NGO, one business models expert, one engineering company and one entity for social aspects and replication. The legal and regulatory framework of 57% of the total population living in EU islands will be directly considered within the project.