Mannvit is an official a participant in the GEOELEC project supported by the European Commission’s Intelligent Energy Europe Initiative. The GEOELEC project’s official kick-off was in June 2011 and will continue until December 2013. The GEOELEC project is led by the EGEC (European Geothermal Energy Council) in cooperation with nine European companies from eight countries.

The principle goals of the project are:  to introduce geothermal energy and its utilization in Europe with an emphasis on EGS (Enhanced Geothermal System) technology, lower non-technical barriers for policy makers, energy industries and investors, and set a growth plan for geothermal energy utilization.

To achieve its goals, the GEOELEC project will seek to educate the decision-makers in regards to the potential of geothermal electricity in Europe. And, in turn, stimulate banks and investors to finance geothermal power installations, and finally to attract key potential investors such as oil and gas companies and electrical utilities to invest in geothermal power projects.

The GEOELEC project will also create an action plan for additional geothermal electricity generation in Europe, with the objective to double the installed geothermal power capacity in Europe from 11 TWh per year in 2010 (mainly from Italy and Iceland), to 22 TWh per year in the short/medium term and initiate new projects in every EU member state leading to 55 TWh per year by 2020.  This action plan will also include concrete steps to achieve these objectives including, conditions for financial feasibility, a regulatory framework, and public acceptance.

Specific tasks within the project include:

1. Gather all publicly available data on geothermal resources in Europe via Data Gathering Workshops
2. Process said data to present an estimate of European geothermal power potential in a prospective study showing the potential contribution of this sector in each EU country
3. Develop and distribute a guide to boost investment in the sector with a presentation of the investment needed to finance the short, mid and long term strategy.
4. Set forth recommendations for an improved regulatory framework and authorization procedures to be considered by EU Member States
5. Present clarifications on the environmental impact of geothermal power plants to increase public acceptance and introduce the concept of sustainable use
6. Host promotion workshops presenting geothermal energy and results of the GEOELEC project in various venues in Europe, among them the geothermal project Hungary, organized by Mannvit Hungary.
7. Training of professionals in geothermal power technology.

Most of the Data Gathering Workshops have been conducted, but the data gathering is ongoing. Data gathering for the project is led by TNO; Mannvit will gather data for Iceland. The next Data Gathering Workshop will be for Germany, Poland, Czech Rep., Slovakia, Hungary, Austria and Switzerland and held in Offenburg, Germany on February 29^th. Mannvit will participate in that workshop and the following GeoTHERM conference March 1^st and 2^nd.

For more information and progress on the project please visit the project web site at www.geoelec.eu. You can also follow the project by subscribing to the project newsletter on the website.