Geothermal energy resources currently make up a very small share of the heat supply in Denmark, but in the long term it is estimated that geothermal production has the potential to be an important part of it, which will give rise to new market opportunities.
In geothermal projects, it is particularly important to focus on minimising the drilling risk. Part of the risk can be covered by so-called lost-in-hole and dry-hole insurance policies, and it is generally important to pay close attention to contract and insurance terms. During drilling and the design and construction of the plant, the entire contract structure must address and minimise risks and regulate the timetable, contract scope, interfaces between the supplier of drilling equipment and the other suppliers and supply prices.
TVC Law Firm advises operators at all levels in the area of renewable energy and has thus some of Denmark's most experienced and expert legal advisers in this field.
We advise suppliers, energy companies, banks, investors, consultants, project owners and project developers.
The challenges and needs vary greatly, of course, depending on whether the client, for example, is a public authority wanting to plan and construct a large geothermal plant, or a small start-up in the sector. Our advice is always based on our client's challenges and needs.
Our advisory services cover, for example:
- Contractual relationships
- Financing and establishment of projects
- Project development
- Turnkey contracts