International Finance Cooperation (IFC), Turkey: Geothermal best practice guide and workshops (2013)

A 1-year project was initiated in January 2013 with the IFC, the private sector branch of the World Bank. The WB has worked with the IGA before on the GeoFund project. Remaining project funds were thereafter transferred to the IFC who started a new collaboration with the IGA.

Aims of the cooperation are to raise awareness on geothermal energy among financial institutions, banks, insurances and developers in Turkey. It was proposed to conduct this project with the help of the IGA Service Company. The suggested tasks for the IFC – IGA Service Company are:

  1. Provide training to geothermal developers to raise awareness of the geothermal exploration best practice

  2. Facilitate implementation through a launch event (to announce the creation of the Guide and provide high level training on geothermal exploration best practices to a wide selection of geothermal developers, financial institutions, and other stakeholders) in Turkey.

  3. Conduct technical workshops with individual geothermal developers.

  4. Support the trainings on geothermal risks and mitigation techniques delivered by IFC to financial institutions.

  5. Revise a best practice document on geothermal energy which was produced by a geothermal consulting company in 2011.

  6. Gain buy-in and endorsements from key stakeholders (including geothermal developers and financial institutions) to ensure validity, applicability, wide dissemination and broad adoption of the Guide;

  7. Ensure the Guide remains updated, relevant, and widely available through a website.

  8. Support IFC in reviews of developers’ pre-feasibility reports.