CROWDTHERMAL Deliverable D4.5 New Risk Mitigation Scheme successfully submitted!

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CROWDTHERMAL is a project funded under the European Union’s Research and Innovation programme Horizon 2020 (grant agreement no. 857830). The project aims to empower the European public to directly participate in the development of geothermal projects with the help of alternative financing schemes like crowdfunding and social engagement tools. The project is now in the last year of its EU-funded period.

In late 2021, GeoT submitted the project deliverable D4.5 Economic Analysis of the Application of the new Risk Mitigation Scheme to the European Commission. The report summarises the results of economic efficiency calculations that were performed to assess the economic implications of the proposed CROWDTHERMAL Risk Mitigation Framework for crowd-funded deep geothermal projects. 

The economic assessment has demonstrated that the proposed Risk Mitigation Framework can entail more positive investment decisions and encourage more project continuations. For project developers, it can help more projects become economically feasible and can improve the bankability. It has a positive effect on the ability to repay loans and reduces the risk of insolvency and project stops. For community investors, it reduces the amount of capital at risk as well as the risk of credit default and losses, thus making geothermal a safer community investment.

Once implemented, the proposed support framework can be an effective way to tackle many of the financial challenges for geothermal developments and to contribute to an accelerated market development in Europe.

You can find more information on CROWDTHERMAL on the project website and on Twitter.

GeoT exhibits at GeoTHERM 2021

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GeoT is pleased to announce that the company will exhibit again at this year’s GeoTHERM expo & congress, the biggest geothermal energy event in Europe. The event will take place on 24 and 25 June 2021 in digital form. You will find us in the virtual Ortenauhalle: After entering the hall with your avatar, immediately turn right and keep following the right side of the hall. You will reach our booth within a few seconds. We would be pleased to welcome you there!

Please find more information about the congress on the event website.

CROWDTHERMAL’s WP3 Successfully Concluded

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CROWDTHERMAL is a project funded under the European Union’s Research and Innovation programme Horizon 2020 (grant agreement no. 857830) which aims to empower the European public to directly participate in the development of geothermal projects with the help of alternative financing schemes such as crowdfunding and social engagement tools. Project kick-off was in September 2019.

In February 2021, GeoT-led Work Package 3 was successfully completed with the project deliverable D3.4 Draft Structure of a Play Type Independent Geothermal Exploration Risk Mitigation Scheme submitted to the European Commission. The report presents the conceptual framework for a European geothermal exploration risk mitigation scheme that can complement and facilitate alternative financing solutions in the geothermal market. The proposed support framework includes a grant-based, co-financing component in the form of match-funding and a risk-sharing component in the form of loan guarantees mitigating both short- and long-term subsurface risks of deep geothermal projects. Once implemented, it can be an effective way to assist the geothermal sector and to contribute to an accelerated market development in Europe.

You’ll find more information on CROWDTHERMAL in the project newsletter, on the project website and on Twitter.

Release of communal code of practice “Ein neuer Weg zu effizienten Wärmenetzen mit Niedertemperaturwärmeströmen”

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GeoThermal Engineering GmbH is part of the consortium of the project “Kommunaler Klimaschutz durch Verbesserung der Effizienz in der Fernwärmeversorgung mittels Nutzung von Niedertemperaturwärmequellen am Beispiel tiefengeothermischer Ressourcen” which was commissioned by the German Federal Environmental Agency (UBA). Within this project, the communal code of practice “Ein neuer Weg zu effizienten Wärmenetzen mit Niedertemperaturwärmeströmen” was created. It has now been made available via download by the UBA HERE. The final report of the project (including an English abstract) is also now available, HERE.