CROWDTHERMAL aimed 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 firstly increased 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 have been 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 created a social acceptance model for geothermal energy that could be used as baseline in subsequent actions for inspiring public support for geothermal energy. Parallel and synergetic with this CROWDTHERMAL have worked out details of alternative financing and risk mitigation options covering the different types of geothermal resources and various socio-geographical settings. The models have been 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 has been created with the aim of promoting new geothermal projects in Europe supported by new forms of financing and investment risk mitigation schemes that have been designed to work hand in hand with current engineering and microeconomic best practices and conventional financial instruments.
LPRC was the lead partner for Work Package 4 Integrated Development Schemes. This WP created a social-media powered platform that supported the deployment of integrated development schemes for geothermal energy utilising alternative finance and community engagement tools. The aim was to connect the new approaches brought forward by CROWDTHERMAL with conventional financing, public engagement and risk mitigations schemes and launch a new European mobilisation campaign with the help of social media as well as with the help of targeted conferences, workshops and by mobilising EFG Third Parties (EFG) and the Altfinator Network (CFH).
For more information please contact Ariadna Ortega at ariadna.ortega_at_lapalmacentre.eu