GEOFAR
The EU-funded project GEOFAR will start at the 1st September 2008. GEOFAR stands for Geothermal Finance and Awareness in European Regions. A high-class consortium consisting of Erlangen AG (Germany), Rödl & Partner GmbH (Germany), BRGM (France), Energo Group SA (Greece) , IGME Greece (Greece), IGME Spain (Spain), IENE (Greece) and SOGEO (Portugal) develops solutions for problems in the first financing stages of geothermal projects. Overall GEOFAR aims to:
- reduce financial barriers hindering the initial stages of geothermal energy projects through the development and proposal of appropriate financing and funding schemes. This helps to boost investments in geothermal energy.
- promote and raise the awareness of emerging (industrial) geothermal applications. The awareness raising activities are mainly directed towards local and regional decision makers and other potential stakeholders.
- improve the know-how and awareness among regional decision makers by exchanging experience and know-how among the target group.
- spread 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.
The main outcome will be a financial scheme that supports geothermal projects in the initial stages by covering the risks resulting in phase. In this way GEOFAR helps to boost the geothermal energy sector.
The whole budget is 1.554.386 €. The Erlangen AG contributes with 282.000 €. The funding of the EU Commission for the Erlangen AG is 211.500 €.
Please inform you on the progress of GEOFAR on the official website www.geofar.eu .
