Navigating risk in geothermal energy projects: A systematic literature review
Mukhtar A. Kassem, Andrea Moscariello, Pierre Hollmuller
Abstract
In the last two decades, the geothermal energy sector has seen a rise in complex projects, with a global focus on project risk. Effective risk management is crucial for successful geothermal energy project execution, as emphasized in numerous studies. This research examines current and anticipated trends in geothermal energy project risk literature, utilizing the Web of Science (WOS) database and bibliometric methods. Analysing 1580 WOS academic documents, we narrowed the focus to 77 papers, emphasizing 12 related to geothermal energy project risks in Switzerland. Network visualizations revealed research interconnections, emphasizing keywords, influential authors, and significant journals. The findings highlight diverse risk themes in geothermal energy projects, including uncertainties in resource exploration, drilling, and project development challenges, environmental and societal impact assessments, financial considerations, regulatory risks, operational challenges, market dynamics, social acceptance, legal aspects, and climate/geopolitical risks. These collectively contribute to understanding the multifaceted nature of risks in geothermal energy ventures, offering insights for effective risk management and sustainable project development. A limitation is the exclusive focus on WOS academic documents, potentially constraining the literature review's breadth. This study marks the inaugural systematic review of literature indexed in the Web of Science (WOS) focusing on the risks associated with geothermal projects. It is a foundational step for future investigations into the risks specifically within Swiss geothermal energy.