Disturbed conditions in the Sun are potential sources of events of strongly enhanced dissipation of solar wind energy in the near-Earth space environment, also known as Space Weather events, which manifest themselves as varying electric currents flowing in the coupled magnetosphere -ionosphere system. These events trigger numerous and diverse phenomena both in the surface and in the space environment of our planet. One of the consequences of such variable currents is a varying electromagnetic field on the ground that, in the presence of the conductive earth, induces an electric current in the subsurface. This, in turn, produces a secondary electromagnetic field that is superposed to the incident one, giving rise to the observed geoelectric and geomagnetic fields. Geomagnetically induced currents (GIC) are electrical currents induced in earthed conductors in response to geoelectric fields ultimately resulting from space weather events. Electric-power transmission grids and pipelines are commonly affected negatively by GIC, potentially causing problems such as damaged power transformers and