CROWDTHERMAL – Community-based development schemes foe geotermal energy

The Enterprise Expert Advice of the Ukrainian Association of Geologists as a Linked Third Party was involved in the CROWDTHERMAL three-year project.

This project has received funding from the European Union`s Horizon 2020 research and innovation programme under grant agreement no857830.

Grant agreement ID: 857830

Starting date of the project: 01.09.2019

Finish of the project: 31.11.2022

Project Description: CROWDTHERMAL aims to empower the European public to directly participate in the development of geothermal projects with the help of alternative financing schemes (crowdfunding) and social engagement tools. In order to reach this goal, the project will first increase the transparency of geothermal projects and technologies by creating one to one links between geothermal actors and the public so that a Social Licence to Operate (SLO) could be obtained. This will be done by assessing the nature of public concerns for the different types of geothermal technologies, considering deep and shallow geothermal installations separately, as well as various hybrid and emerging technology solutions. CROWDTHERMAL will create a social acceptance model for geothermal energy that will be used as baseline in subsequent actions for inspiring public support for geothermal energy. Parallel and synergetic with this, the project will work out details of alternative financing and risk mitigation options covering the different types of geothermal resources and various socio-geographical settings. The models will be developed and validated with the help of three Case Studies in Iceland, Hungary and Spain and with the help of a Trans-European survey conducted by EFG Third Parties. Based on these feedbacks, a developers’ toolbox will be created with the aim of promoting new geothermal projects in Europe supported by new forms of financing and investment risk mitigation schemes that will be designed to work hand in hand with current engineering and microeconomic best practices and conventional financial instruments.

 

 

EFG Linked Third Parties in CROWDTHERMAL project

  • Belgo-Luxembourg Union of Geologists (Belgium-Luxembourg)
  • Bulgarian Geological Society (Bulgaria)
  • Croatian Geological Society (Croatia)
  • Czech Union of Geological Associations (Czech Republic)
  • Professional Association of German Geoscientists (Germany)
  • Association of Greek Geologists (Greece)
  • Hungarian Geological Society (Hungary)
  • Italian National Council of Geologists (Italy)
  • Polish Association of Minerals Asset Valuators (Poland)
  • Association of Portuguese Geologists (Portugal)
  • Serbian Geological Society (Serbia)
  • Slovenian Geological Society (Slovenia)
  • Official Spanish Association of Professional Geologists (Spain)
  • Turkish Association of Economic Geologists (Turkey)
  • National Association of Professionals in Geology and Mining (Romania)
  • Ukrainian Association of Geologists (Ukraine)


CROWDTHERMAL brochure

CROWDTHERMAL Press Release

CROWDTHERMAL Chart Compared

CROWDTHERMAL Factsheet Depending on temperature

CROWDTHERMAL Factsheet Objectives

Best practises for the use of alternative financing in the development of renewable energy projects

 

Concept

Our mission is to empower the European public to directly participate in the development of geothermal projects with the help of alternative financing schemes (crowdfunding) and social engagement tools.

Are you interested in geothermal?

CROWDTHERMAL is analysing the perception of geothermal energy and will develop a public engagement approach making extensive use of social media.

Would you like to participate in geothermal projects?

CROWDTHERMAL will formulate new financial models for crowdsourcing, promoting alternative financing of geothermal projects in close collaboration with existing structures & conventional players.

What are the risks related to geothermal projects?

CROWDTHERMAL will formulate recommendations for a novel risk mitigation scheme that will be complementing the alternative financing solutions while protecting the interests of private investors.

What can we do to support your project?

CROWDTHERMAL will prepare a decision tree algorithm with guidelines for the developers and promoters of geothermal energy.

Our Vision

Empower citizens and local communities for local clean energy solutions, contributing to the European Green Deal

Innovative solution

Tapping into alternative finance for geothermal development, strengthening the European portfolio of economically feasible geothermal projects and demonstrating a stronger form of public engagement for the promotion of a geothermal energy.

Tool

CROWDTHERMAL core services will be designed from the very beginning with a purpose of sustainability, to be operated after the EC-funded period, helping geothermal projects tapping into alternative finance during the years to come.

Implementation

A broad social-media campaign will be deployed to connect with young people, who may themselves become financiers of geothermal projects during the 2025-2030 period, giving a final assist to achieving the 2030 targets.

The strength of our consortium

The European Federation of Geologists (EFG) brings to the project decades of scientific knowledge, data, understanding of international and EU agendas and their extensive membership network for dissemination and knowledge sharing, involving 17 Linked Third Parties listed here.

Institute for Future Energy Systems (IZES, Germany) has 15 years of experience with applied research on the psychology behind the development and acceleration of the market uptake of renewable energies.

University of Glasgow (UOG, UK) contributes with its unique academic knowledge not just on geothermal energy but also on a wide range of related technological and environmental areas.

GeoThermal Engineering GmbH (GeoT, Germany) GeoT’s covers the entire geothermal project development span, ranging from financing & planning to supervision of drilling work, plant operation & the planning of risk insurance schemes.

La Palma Research Centre (LPRC, Spain) is an expert in the development of awareness raising tools and Social Media marketing platforms for geoscientific projects.

CrowdfundingHub (CFH, Netherland) is specialised in alternative finance with expertise on crowdfunding and other forms of alternative finance, such as community finance, credit unions, civic crowdfunding and other community-driven financing, governance and business models.

The District Heating Company of Szeged (SZDH, Hungary) supplies heat and domestic hot water to 27,000 apartments and 500 public buildings (schools, kindergartens, hospitals) in Szeged.

The Spanish Geothermal Technology Platform (GEOPLAT, Spain) is a scientific-technical sectorial coordination group of 210 institutions that cover all relevant stakeholders in geothermal energy in Spain.

The Geothermal Research Cluster (GEORG, Iceland) is a non-profit research driven geothermal cluster of 23 members, combining all major players in geothermal research and utilization in Iceland and their key international collaborators.

EIMUR is a public-private partnership in the field of energy, increased utilisation of geothermal resources and innovation in Northeast Iceland.