GeoFAR

Geothermal Finance and Awareness in European Regions

GeoFAR

Project details

Duration 09/2008 - 08/2010

Coordinator Erlangen AG, Henkestraße 91, D91052 Erlangen

Project goal

GeoFAR aimed to reduce financial barriers hindering the initial stages of geothermal energy projects through the development and proposal of appropriate financing and funding schemes. Investments in geothermal energy should be boosted.

GeoFAR aimed to provide legal frameworks and outline new or modified EC directives and communications where geothermal energy is appropriately considered as a relevant means towards a sustainable, competitive and secure energy in Europe.

GeoFAR aimed to promote and raise the awareness of emerging (industrial) geothermal applications. The awareness raising activities were mainly directed towards local and regional decision makers and potential stakeholders.

GeoFAR aimed to spread out all findings and results as widely as possible in order to ensure that the maximum of local and regional decision makers receive valuable information for evaluating the benefits of geothermal energy for the local/ regional economy.

Results

The key output of GeoFAR was a set of financial options or schemes - validated by experts with relevant skills in renewable financing - suitable to boost the development and investment in geothermal energy projects.

This will lead to more geothermal projects. Geothermal energy related legislation, directives and communication suitable to inform and remind the broader public about the relevance of geothermal energy will be proposed; they will be validated by competent external and internal experts. Corresponding EU or national communication will be constitutive elements for the further formulation of a European Strategy for Sustainable, Competitive and Secure Energy.

Last but not least, comprehensive and illustrating examples of industrial geothermal energy based applications will be elaborated and largely disseminated. These application examples clearly show the added value of combined processes (electricity & district heating/ electricity and process heat) for a maximum exploitation of geothermal energy.

All outputs and results were addressed to the main beneficiaries - the local and regional decision makers. It is imperative to raise their awareness about geothermal energy as it might generate jobs and welfare for the local communities.

Role of Rupprecht Consult

Rupprecht Consult was fully involved in the preparation of the proposal and contract: identification of and negotiation with potential project partners, elaboration of the proposal (work programme and budget), support to the contract negotiations with the European Commission.

The role of Rupprecht during the project's life time was the technical support of the Prime Contractor - Erlangen AG - in the management of the project (reporting, financial statements) and the preparation and dissemination of the results (newsletter, organisation of conferences and workshops)

Contact details

Siegfried Rupprecht
+49 221 6060 55 11
s.rupprecht@rupprecht-consult.eu

Related resources

No additional resources available yet.

All related news

No news available