Friday, March 19, 2010
EU about to miss (un)renewable chance
As a part of plan of economic recovery, EU decided to allocate EUR 3.98 billion on energy projects. Today, the vast majority (97 %) has been devoted CCS technology demonstrations, building some cross-border gas and electricity interconnections as well as for developing a series of offshore wind parks etc; but not a single euro for geothermal projects.
In the beginning of March 2010, European Geothermal Energy Council (EGEC) raised its voice and asked European Commission to give some insurances for risks linked to geothermal drilling projects as well as to large geology explorations. In other words, EGEC in name of geothermal industry asked for what remained from 3.98 billion-euro package.
EUR 119 million could be turned into the buffer helping us to overcome main barriers, which we (geothermal industry) face in regards of geothermal energy development. Financial insurance schemes are necessary in order to whet companies’ appetite for large geology explorations, despite the related risks. Similar insurance schemes are in place for example in France, Switzerland, Germany or Netherlands. But schemes on EU level are desperately missing.
Finally, yesterday we saw interesting advertising video spot and lower we share it with you. This one is focused on promotion of wind energy, which is definitely not our favorite. But despite of that this spot is creative, so in this case we are taking of our hats off to competitors. It is about “Mr. W” (wind energy), who lived lonely and misunderstood by people. One businessman once recognized him and closed the deal. At the same time, similarly to “Mr. W”, there also “Ms. G” (representing geothermal) – she has lived not recognized and also under-appreciated not only by the people, but by the EU as well. Leaders in Brussels should recognize her as soon as possible; otherwise EU is about to miss (un)renewable chance and great opportunity.