News

Geothermal heating project near Paris launches crowdfunding campaign

Champs-sur-Marne crowdfunding campaing website via Lumo-France (screenshot)
Alexander Richter 4 Nov 2019

The geothermal heating project in Champs-sur-Marne near Paris/ France has launched a crowdfunding campaign on Lumo, a french crowdfunding platform for energy projects.

The geothermal project of Champs-sur-Marne, located near Paris/ France, requires an investment of EUR 40 million (around USD 44.6m). Its commissioning is scheduled for the end of 2021. The project is being developed in collaboration of the community of Paris-Vallée-de-la-Marne and GéoMarne, a local subsidiary of Engie Solutions.

The two pre-wells were completed in July, pending the start of drilling deeper in mid-November, an emblematic step in the construction of the facility.

An information meeting on the opening of the GeoMarne project to crowdfunding will be held on Monday, November 4th, in Champs-sur-Marne, in the presence of Lumo, a crowdfunding platform dedicated to the development of renewable energies.

10,000 heated homes in Champs and Noisiel

Geothermal energy consists of recovering the heat present in the subsoil or groundwater, where the temperature of the water is between 50 and 95 degrees Celsius, to transform it into energy. The heat taken is transferred to the urban network to supply heating or hot water to the buildings of the district, then the water is reincorporated into the groundwater.

The future geothermal heat plant will power 10,000 homes in Champs and Noisiel, in the new and old, via a 19 km heat network.

Geothermal energy, a natural, local and renewable resource, will supply 82% of this heat network. Emissions avoided through the plant will correspond to those of 17,000 vehicles per year.

Lumo will register the project on its website as of Monday (November 4, 2019) In order to “reinforce the territorial anchoring of the project by involving local residents in its success”, Engie Solutions has set up the first crowdfunding collection for this type of project.

This scheme will allow the inhabitants of Paris-Vallée-de-la-Marne and more broadly the Parisians to invest their savings in this facility. Lumo is also the “first platform to offer citizens the opportunity to contribute to a geothermal source energy project”.

The project will be registered on its website as of Monday. “The revenue generated by the sale of the energy produced will allow the project owner to repay with interest,” says the platform.

The project website on the Lumo platform can be found here.

Source: Le Parisien