Region: Europe
Content Types: Report
Date: Feb, 2024

geothermal landscpaeThe Federal Government of Austria, through the Climate and Energy Fund (Klima und Energiefonds), has announced a new funding programme worth EUR10mn to support deep geothermal projects.

The ‘Deep Geothermal Energy’ programme will support feasibility and preliminary studies, exploration and investigation measures, pilot drillings and the preparation of projects for the economic use of deep geothermal energy.

The aim of the funding programme is to create the basis for the implementation of efficient and environmentally-friendly deep geothermal projects. The Climate and Energy Fund will support companies and public institutions in five modules:

• Module One – Basic preliminary studies 
• Module Two – Feasibility studies 
• Module Three – Exploration 
• Module Four – Pilot drilling 
• Module Five – Citizen participation and information events

Climate and Energy Fund Managing Director, Bernd Vogl, said, “Our new programme helps to develop and implement projects for deep geothermal energy in heating networks and in industrial processes.

“The entire spectrum extends from planning to exploration to pilot drilling. This is intended, among other things, to reduce the risks associated with geothermal drilling. We are excited about the projects that will emerge from this initiative.”