GeoFundfor Financing Geothermal
Development in 2009 forECA Region

World Bank & IFC
in association with:

GeoFund - IGA Geothermal Workshop∞ Draft Agenda ∞February 16-19, 20091

Monday, February 16

Day 1: Opening the International Workshop “TURKEY 2009”
The opening session will review current works, and will describe new developments in Geothermal
Energy. Presenters will discuss how to further develop the ECA geothermal industry by working withgovernment officials and the private sector in developing projects in their country.

13:00 – 18:00 Check-in, registration, and Reception
13:00 – 18:00 Networking - Exhibitor Kiosks – Exhibition Hall – Best Practices∞ Day 1 Convener: IGA President, Prof. Ladislaus Rybach ∞Opening Reception – GeoFund
16:30 – 16:40 Workshop Commencement - comments by the IGA President
16:40 – 17:20 International Workshop Cocktail Reception and Opening Remarks:- Representative of Turkish government (TBA)- President of TGA Mr. Orhan Mertoglu- Chairman of the IGA Education Committee Prof. Horst Rueter
17:20 – 18:00 World Bank GeoFund’s Goals - Dr. Helmut Schreiber
This opening cocktail reception is specially designed for high-level government officials & industry
specialist as workshop participants. It will summarize overall goals of the workshop and those of theGeoFund in three tranches:
1) Technical Assistance Tranche:
Overview of the Geothermal Workshop. The goal is to present attendees with the successes ofgeothermal energy, how to develop a project, how to secure from the GeoFund loans and grants
to mitigate risks of exploration and drilling, and how to secure financing from the IFC andinternational financiers to develop geothermal projects in their countries.
2) Direct Investment Funding Tranche:
GeoFund, via the World Bank, will support selected project developers by providing low cost loans,contingent grants and outright grants which would cover part of the project cost throughmonetization of external benefits. Via the IFC, the GeoFund will help improve the performance ofexisting geothermal facilities through renovation of existing facilities, and will help support bankablebusiness plans for Greenfield facilities where the resources are promising.
3) Geological Risk Insurance Tranche:
GeoFund will partially insure project developers/investors against the short-term and medium-term
geological risks. This insurance will help to mitigate the risks associated with geothermal energy
exploration and operation that is considered as one of the key barriers to geothermal energy
investments.

Geothermal Gala Dinner
18.00 - 10.00

Keynote Speaker– Dr. Hilmi Güler, Minister of Energy and NaturalResources, Turkey (TBC)

TBC = To Be Confirmed
TBA = To Be Announced
TBD = To Be Determined2

Tuesday, February 17

Day 2: How to Start a Geothermal Project – Regulatory
Issues, Technologies, Barriers and Successful Case Studies
The current and future roles played by geothermal technologies will be explored. Presenters will
cover the major barriers to geothermal development and how to overcome these barriers. We will
also explore the current and future role played by geothermal technologies globally, answering
these questions and more: What is the realistic development potential from 2008 to 2050? What are
the global market and policy drivers? The presenters will review policies concerning energy
demand and use and amendments to legislation favorable to geothermal energy.

08:00 – 09:00

Continental Breakfast - Best Practices - Kiosks Exhibitor Hall∞ Day 2 Convener: Prof. Kiril Popovski ∞Geothermal Development in the ECA Regions
09:00 – 09:15 Summary of Exploration and Development of Geothermal Resources inECA Region Countries – Prof. Kiril .Popovski
Geothermal Exploration and Development
09:15 – 09:45 Development of Geothermal Projects – Exploration and Development –Dr. Ruggero Bertani, IGA former President
09:45 – 10:15 Turkish Privatization of Geothermal Sites – TBC, General Directorate Ministry of Energy and Natural Resources
10:15 – 10:30 Questions and Discussion
10:30 – 11:00

Coffee Break and Networking - Best Practices Kiosks Exhibitor Hall

Geothermal Power Production Projects
11:00 – 11:20 Development of Power Production Projects – Gad Shoshan, Ormat
11:20 – 11:40 Binary Power Project – Mike Hayter, Raiser Technologies (TBC)
11:40 – 12:00
Questions and Discussion
12:00 – 14:00
12:00 – 14:00

Luncheon – (Keynote - Robert Hegger, UTC Power, Silver Sponsor – TBC)
Networking - Exhibitor Kiosks Room

Geothermal Direct Application Projects
14:00 – 14:35 Development of Direct Application Projects – Prof. John Lund (IGA)
14;35 – 14.45 Questions and Discussion
14:45 – 15:15

Coffee Break and Networking - Best Practices Kiosks Exhibitor Hall

Geothermal Direct Application Projects & Heat Pumps (GHP)
15:15 – 15:50 Development of GHP – Dr. Burkhard Sanner (IGA)
15:50 – 16:00 Questions and Discussion
Geothermal Technologies
16:00 – 16:15 Development of Power Production Projects in Turkey with Germencik(Guris), Kevin Wallace - Power Engineers
16:15 – 16:30 Development of EGS – Charles Baron, Google.org (TBC)
16:30 – 16:45 Develop of Direct Applications & Heat Pumps - TBA
16:45 – 17:00 Questions and Discussion
17.00 – 20.30

Networking - Best Practices - Kiosks Exhibitor Hall3

Wednesday, February 18

Day 3: Geothermal Energy Demand and SecuringFinancing(Plenary Session)
The session will explore the operating economics of geothermal technologies, and will describe theissues faced by project developers and financiers. Lecturers will give an overview of how to secureinternational financial assistance and grants. Attendees will learn how to implement a Geothermal
Project, and will also learn how to write winning proposals.

08.00 – 09.00

Continental Breakfast - Best Practices - Kiosks Exhibitor Hall∞ Day 3 Convener: Dr. Helmut Schreiber (TBC) ∞Regulatory Aspects to Geothermal Financing
09:00 – 09:25 Regulatory aspects to attract investors – Prof. Ladislaus Rybach, IGA
09:25 – 09:45
IFC and Private Sector Financing Geothermal Project Development –Alexios Pantelias, IFC
09:45 – 10:00 Questions and Discussion
10:00 – 10:30

Coffee Break and Networking - Best Practices Kiosks Exhibitor Hall

World Bank GeoFund and other Financing
10.30 – 10.50
Opening Remarks: An Acceleration of the GeoFund Program toprovide increased Access and enhanced Opportunities for Project
Support – Dr. Helmut Schreiber, World Bank
10:50 – 11:10
Overview on writing successful proposals to obtain GeoFund support
in order to initiate geothermal development in a country - HeikeLingertat, WB
11.10 – 11.30
Project preparation prior to Receipt of Funding – WB representative
11.30 – 11.50
Contracting, Project Monitoring and Criteria for Payments under Contigent Grants and Technical Assistance, World Bank Representative
11:45 – 12:00
Questions and Discussion
12:00 – 14:00
12:00 – 14:00

Luncheon – Keynote - John McIlveen. Jacob & Company Securities,
Silver Sponsor – TBC
Networking - Best Practices Kiosks Exhibitor Hall

Geothermal Data, Economic & Financial Models Required to Secure Project Financing
14:00 – 14:30 Data need for project development - TBC, General Directorate - Ministryof Energy and Natural Resources
14:30 – 14:50 Economic & Financial modeling needed to secure funding for
geothermal projects, Prof. Gordon Bloomquist, IGA
14.50– 15:00
Questions and Discussion
15:00 – 15:30

Coffee Break and Networking - Best Practices Kiosks Exhibitor Hall

Open Discussions with World Bank Invited Investors, Insurance Companies and Banks.
15:30 – 15:45 Participants will be asked to submit questions to be presented andanswered in an open discussion.
15:45 – 16.45 Reading of Questions - Dr. Helmut Schreiber, World Bank
16:45 – 17:00 Informal Discussions
4Wednesday, February 18

Day 3:

Course on Economic Evaluation and Modeling(Parallel Session)

The short course on economic modeling of geothermal projects will introduce project developers
to the possibilities and benefits of modern methodologies for evaluation of projects to be financedby the GeoFund. Participants will follow the full process of modeling a concrete project until getting
the successful combination of natural pre-conditions and main economic drivers.

∞ Course Convener: Dr. Gordon Bloomquist ∞09.00 - 09.15 Opening the course
09.15 - 09.40 Economic criteria – Introduction
09.40 -10.00 Economic criteria – Geothermal power production
10:00 – 10:30 Coffee Break and Networking - Best Practices Kiosks Exhibitor Hall
10.00-10.30
10.30-11.00
11.00-12.00

Economic criteria – Direct application projects
Economic criteria – Combined power/heat production project
Financial Modeling Considerations - Introduction- Financial objectives (cash flow, return on equity, etc)
- Constraints, boundary conditions – analysis period,- Ownership – public/private, equity investors, etc- Funding (debt/equity/grants mix)
- Fixed and variable costs – fuels, labor, services, materials, etc- Cost escalation
Taxation (sales, franchise fees, income, etc)

12:00 – 14:00

Luncheon – Keynote - John McIlveen. Jacob & Company Securities,
Silver Sponsor – TBC
12:00 – 14:00 Networking - Best Practices Kiosks Exhibitor Hall
14.00-15.00

Special software application – Presentation of REELCOST software

15:00 – 15:30 Coffee Break and Networking - Best Practices Kiosks Exhibitor Hall
15:30 – 16:30 Modeling examples- Example for geothermal power production project- Example for geothermal direct use project (Turkey)- Example of district heating drawing info from a HEATMAP analysis.
16.30-17.00 Discussion
NOTE: For each of the examples, separate modeling scenarios (3 to 5 case histories foreach) would be done to illustrate key economic analysis capabilities for concrete casestudies:
9 Capitalization (impact of funding sources/mix)
9 Emission credits (impact on project viability)
9 Break-even pricing (electric sales price needed to meet financial criteria).
A written Guideline for project preparation and implementation shall be supplied to thecourse participants.

517.30 – 18.00

Closing the Workshop.
- President of TGA Mr. Ladislaus Rybach- Chairman of the IGA Education Committee Prof. Horst Rueter

20.00 - 22.30

Networking - Best Practices - Kiosks Exhibitor Hall

Thursday, February 19

Day 4: Field Trip to Geothermal Site (optional) (TBC)
This session will provide a panel focusing on country specific aspects of Geothermal Energy andbuilding effective government-industry collaboration. This will include visiting a geothermal site.

09.00
10.00 - 12.00
12.00 - 13.30
13.30 - 14.30
14.30 - 16.30
16.30 - 17.30
17.30 - 19.00

Departure to the GHP project in Istanbul
Presentation of the project, visit to the project site, questions, discussion
Travel to Bursa
Lunch break
Visit to the geothermal field in Bursa
Coffee break with discussion
Travel to Istanbul

6