ThinkGeoEnergy – Geothermal Energy News

EU funding opportunity for novel geothermal drilling technology

The EU Commission has an open funding opportunity for the development of novel drilling technology to help decrease the cost of geothermal drilling to depths of 5,000 meters and with temperatures higher than 250 degrees Celsius.

In October 2017, the EU Commission has released a Call for Applications: Developing solutions to Reduce the Cost and Increase Performance of Renewable Technologies.

Achieving or maintaining global leadership in renewable energy technology requires that the innovative solutions are also affordable. Therefore cost reductions remain a crucial necessity for existing or new technologies. This specific challenge is in line with the sectorial cost reduction targets stated in the respective Declarations of Intent of the SET Plan, where applicable.

The call specificially addresses geothermal and the need for the development of novel drilling technologies to reach cost-effectively depths in the order of 5 km and/or temperatures higher than 250°C.

The scope of the call also addresses these other renewable energy technologies:

Beside the development of the technology, the proposal will have to clearly address the following related aspects where relevant: potentially lower environmental impacts, issues related to social acceptance or resistance to new energy technologies, related socioeconomic issues.

The Commission considers that proposals requesting a contribution from the EU of between EUR 2 to 5 million would allow this challenge to be addressed appropriately. Nonetheless, this does not preclude submission and selection of proposals requesting other amounts.

Expected Impact

The proposed solution will reduce the CAPEX and/or OPEX of energy generation from any of the mentioned renewable sources making it comparable to generation costs from competing fossil fuel sources.

Dateline for submission31 January 2018 17:00:00 (Brussels time)

Source: EU Commission

Exit mobile version