East Africa as the Qatar in the Green Hydrogen space? Geothermal can play a major role in the broader hydrogen economy. If we strip it down to the very beginnings, one thing we must do to get there is de-risk development. This is where an often overlooked, but extremely common form of financing comes in. Insurance is key to bringing geothermal projects forward and lowering the cost of capital and ultimately making them financeable and bankable. I sit down with Julian Richardson of Parhelion Underwriting to discuss how insurance can change the game in worldwide Geothermal deployment.
Insurance is there to take risks that equity or debt can't or won't take. Often an overlooked form of financing, Insurance is somewhat of a backbone in a lot of arenas of life and can play the same role in Geothermal. It helps de-risk Geothermal development drilling, decreases the cost of capital, limits downsides for equity or debt investors and ultimately increases access to more capital. As Julian Richardson with Parhelion Underwriting put it, we are here to take on the low probability/high impact risks so that geothermal development can advance globally.
Parhelion Underwriting
https://www.linkedin.com/company/parhelion-underwriting-ltd/
Julian Richardson
https://www.linkedin.com/in/julian-richardson-parhelion/
Julian's book recommendation
The Gold Finch by Donna Tartt
JRG Energy
GRC
https://grc2022.mygeoenergynow.org/
CORE Knowledge
https://www.linkedin.com/company/core-geothermal/
Nick Cestari