Jurisdiction(s):
United Kingdom

Key definition

Diversification definition

What does Diversification mean? In legal practice, diversification describes spreading investments or exposures across different assets, sectors, counterparties or strategies so that no single risk or asset materially affects overall outcomes. It is used to manage volatility and concentration risk. The term is descriptive rather than a standalone legal definition, but it is embedded in legislation and regulation. In England and Wales, trustees must have regard to the need for diversification under the Trustee Act 2000 (standard investment criteria). Northern Ireland has an equivalent duty under the Trustee Act (Northern Ireland) 2001. In Scotland, diversification forms part of the prudent investor approach recognised in...

Geothermal power project finance: risk allocation, exploration and resource risks, drilling and completion, O&M, environmental and social issues, lender requirements and host-government support

Published by a LexisNexis Banking & Finance expert

Practice notes

Introduction to geothermal energy

Geothermal energy is the heat stored within the earth’s sub-surface. For the renewable power projects considered in this Practice Note, it means producing electricity by applying a range of technologies that use geothermal heat as the primary thermal input. For countries that can tap appropriate resources, geothermal generation can be central to the energy transition, tackling the familiar dilemma that arises when diversifying away from conventional plant towards renewables: how to secure a reliable, sustainable baseload supply in the absence of proven, large-scale, Long-term battery storage. It also offers an important edge over pipeline gas and Liquid Natural Gas (LNG)—another contributor of baseload capacity that still features in the transition, particularly in developing markets, by virtue of being cleaner than coal—because it is indigenous. Consequently, it cuts reliance on, and exposure to, the global hydrocarbon value chain and eliminates a major driver behind the export of hard currency. By way of illustration, coal and many gas-fired stations need continual deliveries of fuel which will...

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Web page updated on 21/05/2026

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