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.