Munich Re and IFC Announce Agreement to Develop and Pilot Geothermal Exploration Risk Insurance in Turkey (webwire)
Four pilot projects will be supported, expected to facilitate US$ 420million of private-sector investment and the installation of 140 MW of geothermal capacity.
Munich. With the new advisory services agreement Munich Re will be supported by the International Finance Corporation (IFC) in identifying and preparing suitable geothermal projects in Turkey that will use exploration risk insurance to reduce their exposure to the geothermal-well productivity risk.
Four pilot projects will be supported under the agreement, expected to facilitate US$ 420million of private-sector investment and to lead to the installation of 140 MW of geothermal capacity. Munich Re’s partner is the IFC, a member of the World Bank Group. The project is funded by the Global Environment Facility (GEF). Read More......
