Geothermal lithium is extracted from brines used in energy production. It is the most sustainable way to extract lithium compared to hard rock mining or evaporation, which are significantly more harmful to the environment and CO2 intensive. Geothermal lithium provides Europe with greater independence in lithium production and imports. Executive summary is available here Full report is available here
To fully represent the geothermal technologies for Research & Innovation and reflect the technology trends and the market development, ETIP DG and geothermal panel of the ETIP RHC become ETIP Geothermal.This proposal was made by the ETIP DG Steering Committee in October 2022 and has been approved by all members during the 2022 Annual meeting in December 2022.The geothermal panel of the ETIP RHC also gave its approval on the 1st of December 2022 about this change of name.So from January 2023, the ETIP geothermal is established. Javier Urchueguía, Chair of the Geothermal panel of RHC ETIP said: “The launch of ETIP geothermal is a great opportunity to merge and integrate all efforts and lessons learned within the Renewable Heating and Cooling (RHC-ETIP) and Geothermal Panel activities into our ETIP geothermal platform. Critical aspects such as the interface and hybridization with other renewable HC technologies, synergies in many areas, and the opening to a broad variety of stakeholders are important activities of the Geothermal Panel that can and should have continuity in this broader and powerful new structure. I would like to encourage all those who have actively participated in the Geothermal Panel activities in these last years to join our opening conference in Offenburg on March 2nd!” Fausto Batini, Chairman of ETIP-DG mentioned: “The ETIP Geothermal has the ambition to bring together all representatives from industry, academia, research centers, and sectoral associations, for the development of the entire geothermal energy value chain (electric power, heat&cooling, thermal storage, strategic mineral). A strong synergy will be developed with the Renewable Heating and Cooling (RHC-ETIP) and Geothermal Panel to have all Geothermal Energy Sectors playing a main role in the clean energy transition and increase Europe's energy independence from unreliable suppliers and volatile fossil fuels.The official launch of the ETIP Geothermal will be at General Assembly on March 2nd, 2023 in Offenburg, where a new Strategic Research and Innovation Agenda will be presented. Looking forward to meeting all the ETIP-DG and Geothermal Panel members in Offenburg!” Synergies between both previous ETIPs will be presented and discussed during the first meeting of the ETIP geothermal. Mark your calendar! Thursday 2nd of March 2023 from 10h00 to 12h00 CET in Messe Offenburg (Germany) at GeoTHERM. The name of the room will be announced very soon.
Europe’s dependence on imported fossil fuels was exposed by Russia’s invasion of Ukraine. Replacing this dependence through energy savings, geothermal and other renewable heating solutions is of paramount importance. We explored the policy challenges for EU policy and also the perspectives from key large heat consuming sectors.
EGEC views on the EU Critical Raw Materials Act EGEC, the voice of the European geothermal industry, is a not-for-profit association representing the entire value-chain of the industry across 28 countries. It is included on the European Transparency Register number: 11458103335-07. Further information can be found at www.egec.org. We welcome the opportunity to respond to the consultation on the EU Critical Raw Materials Act consultation. Our observations and recommendations are:
The Clean Energy Transition Partnership (CETPartnership) Joint Call 2022 was launched on the 14th September and will remain open to pre-proposals submissions until 23 November 2022, 14:00 CET. It is the first annual co-funded call under the CETPartnership and is co-funded by the European Commission under the Horizon Europe Partnership scheme. The CETPartnership aims to empower the clean energy transition and contribute to the EU’s goal of becoming the first climate-neutral continent by 2050, by pooling national and regional Research, Development, Technology and Innovation (RDTI) funding for a broad variety of technologies and system solutions required to make the transition.
The European Parliament has voted on 5 July 2022 to consider gas and nuclear energy to be sustainable investments in the Sustainable Finance Taxonomy, provide they comply with a set of criteria. This news brings about negative consequences for the geothermal industry beyond the simple dilution of the principle of “sustainable investments” by allowing a carbon intensive energy source to be eligible. It threatens geothermal project’s capacity to attract sustainable finance. The entire premise of the Sustainable Finance Framework is that there are not enough finance flowing towards geothermal and other renewable energy projects because these projects have a much lower profitability than those for “conventional” energy, especially on the short term. The Sustainable Finance Taxonomy was then designed to answer the need of investors that want to use their funds to support investments that contribute to the energy transition, identifying projects that are clearly consistent with decarbonisation by 2050, including very strict criteria for eligibility for renewable technologies such as geothermal energy. The purpose of an exclusive and science base taxonomy was to allow a sustainable finance industry to consolidate around a rapidly growing number of sustainable assets, whose improved market maturity is notably enabled by the sustainable finance framework that provides cheaper capital costs than conventional private finance. Such a virtuous circle could have been positive for the geothermal industry, which greatly benefits from reductions in cost of capital due to its CAPEX intensive nature. The inclusion of gas and nuclear throws the entire taxonomy out of balance. Gas in particular, which includes natural or “fossil” gas, benefits from a much more permissive eligibility threshold that geothermal for life cycle emissions. Indeed, as a fossil fuel gas would not be eligible if it had to justify a 100gCO2/kWh life cycle emission. This dismantles the internal consistency of the taxonomy which was crucial for its relevance in the eyes of investors, from the European Investment Bank to pension funds. Indeed, even in a framework where investors are required to justify a given share of “sustainable investments” on their balance sheets, they can now decide to include their gas investments, or to undertake new ones. More importantly, the higher profitability of gas projects means that private finance institutions will more easily finance them than geothermal ones when given the choice between the two. The taxonomy also impacts public investments: gas as a sustainable investment in the taxonomy allows public investment banks such as the EIB to provide guarantees to loans to build gas import pipelines or LNG terminals, to the detriment of investments into renewable heating and cooling infrastructure that would enable the deployment of geothermal energy projects throughout the EU. For the geothermal industry, this vote by the European Parliament represents a blow to the perspective of a rapid shift in our capacity to attract greater volumes of private finance. However, it does not change the underlying trends of the energy and financial sector that move towards decarbonisation and more renewable energy. A likely change may be the adoption of a rival taxonomy to the European one by investors and financial actors to evaluate the sustainability of their balance sheet, with the USA and China currently developing such documents. For more information: firstname.lastname@example.org
All day [Starts at 09:00 CET]
On February 9, 2023, the Franco-German Office for Energy Transition (OFATE) is organizing an online conference on the following subject: Financing the transition to renewable heat in France and Germany
15 - 16
10:00 - 18:00
Aiming to bring together all the stakeholders of the geothermal energy sector for the 6th time, GT 2023 – Turkiye Geothermal Congress will be held at the Grand Ankara Hotel on February 15-16, 2023. GT 2023 aims to bring together engineers and scientists from different disciplines, investors, suppliers, and public and private sector employees who closely follow the developments in the Geothermal Sector, in a scientific environment where they can meet, discuss and promote their products and services. The event is being organized by the Geothermal Power Plant Investors Association (JESDER). For more details and registration, you can visit the congress website https://geothermalturkey.org/.
22 - 23
After the success of the inaugural event in 2022, SPE Aberdeen’s Geothermal Seminar will return in February 2023.