GEOELEC: Develop Geothermal Electricity in Europe

Abstract

The objective of GEOELEC project is to convince decision-makers about the potential of geothermal electricity in Europe, to stimulate banks and investors in financing geothermal power installations and finally to attract key potential investors such as oil and gas companies and electrical utilities to invest in the geothermal power. The action plan that will be developed towards removing the non-technical barriers will result in geothermal electricity to draw the attention of policy makers and the industry, giving geothermal power the high profile it has in other parts of the world, and in persuading capital venture and other companies to seek the benefit from investing in the technology. This project aims also at effectively exhibiting the potential contribution of geothermal electricity in all EU-27 countries, for a short and mid-term perspective. A strategy to reach these objectives will be elaborated in describing the technical, financial, legal, social and environmental issues and in presenting concrete solutions. Notably special attention will be dedicated to training new professionals in the sector and on the future jobs creation.