There is another possible multilateral approach to the Iceland economic issue. This 'third road' doesn't get the exposure it deserves.

Despite " "No, there is no B plan," he said. "Something new has to come into the picture ... But this has to be very drastic and with an outlook for a solution." " (http://www.reuters.com/article/idUSLDE6070OI20100108), there's certainly a Plan B available.

Plan B just needs some exposure. But first the polarization must be down played. Both international, as domestic. Some common ground must be realized first. UK/NL/IS must realize that they're in this not very pleasant situation together. Iceland's total external debt is now above 900% of its GDP, half of that is short term, on top of that declines the economy in rapid speed, so the GDP/debt ratio only will increase more as nothing will be done.

Plan B is called the 'Energy for Debt' solution. It's about revitalizing ('kick starting' is a better word, as it underlines better the urgency for it) the Icelandic economy by exploring Iceland its unlimited geothermal energy resources continuously fed by the earth core heath. Its about exploring Iceland's unique geographical location on the edge of two tectonic plates..

Plan B is about using the creditors wishes (payment demand, energy diversity and energy security) in the benefit of the Icelandic economy, instead the other way around (demanding huge amounts out of a heavily damaged economy, without supporting the necessary recovering). In Plan B the interests of the debtor and the interests of the creditors will merge into a common interest future plan.

I hope this information will get you interested in Plan B. Plan B is a 'third way' called 'Energy for Debt' and has upsides for all involved stakeholders (UK, Holland and Iceland). We have Plan B in technological and financial outlines available for consideration by all three governments.

Plan B in a nutshell: the 'Energy for Debt' option is about building a solid/sustainable geothermal energy harvesting based economy in Iceland under the label of European energy diversity/security. Than Iceland will become Europe's main energy supplier.

As you know President Grimsson of Iceland has announced in January on the press conference in Reykjavik that there will be a referendum concerning the bank deposit insurance law. As he has stated he was very much impressed by the discussion in the Icelandic parliament, the media, the people on the street, and above this all by the more than 25% of inhabitants -in terms of voters/taxpayers that will give even a higher percentage- covering petition (http://www.indefence.is).

For the Icelandic Administration (lead by Prime Minister Ms. Jóhanna Sigurðardóttir) this choice of President Grimsson for a referendum was not easy, as the consequences of it could be huge and all ministers had worked hard to reach a for the Althingi (parliament) acceptable agreement. The negotiation attitude of UK and NL was severe hard.

The 'Energy for Debt' proposal done by Planck Foundation to UK/NL/IS is a very valid alternative, which is in the benefit of both all three nations (UK/NL/IS) and their inhabitants, both financial and energy wise. The 'Energy for Debt' solution fits with mutual principles and suites every party involved in solving this issue and creating a working future perspective.

This 'Energy for Debt' proposal is able to revitalize the Icelandic economy very quick and directing structural in the right (i.e. 21st century, with all its energy/resources deficits based) direction. It's an investment plan that benefits UK/NL/IS all together. Good for Iceland, good for the UK, good for Holland.

The geothermal energy resources of Iceland are huge, very huge and (relative to the potential) yet mainly not explored. Unlike hydropower, geothermal also has only positive environmental impact and almost unlimited supply. Due Iceland's geographical location (on the border of two tectonic plates) is relatively easy to explore.

Geothermal energy is not a limited/finite energy reserve (like oil/coal/uranium), but it has an unlimited (never ending) capacity, powered by the earth's core. The main benefit of geothermal is that it can provide a continue base load on power nets. In terms of base load geothermal is the winner in the field of renewable energy. In terms of kWh cost price is geothermal also the winner in the field of renewable energy.

Supporting Iceland, the UK and Holland by building the energy business case, engineering the geothermal and HVDC technology, engineering the overall finance model, attracting global energy/data players and making the case open to any business in UK/NL/IS is something we within Open Foundation really like to do in 2010.

For Europe (besides from energy perspectives) the 'Energy For Debt' issue is certainly a better option as the current repayment text is as soft as warm butter in legal terms (the text is more à la “we'll see later and discuss it than”, instead of a hard agreement). Losing Iceland for the EU, or even NATO, is at stake. This is easily forgotten by the tough talking negotiators: they only see Icesave, they don't see energy, nor the current status of Icelandic economy, nor the Icelandic domestic turmoil, nor the possible impact on the EU and/or NATO.

An E 12.000 extra debt per Icelandic citizen for an economy with not much of an outlook is certainly a heavy weighted issue. It's even more per Icelandic family (E 30.000) and yet even more with the 5.5% interest accumulation at the end of the road (E 40.000 per family).

The Wall Street Journal quotes President Grimsson in a recent article (http://online.wsj.com/article/BT-CO-20100127-705581.html): "Grimsson said the deal is the equivalent of asking U.K. taxpayers to foot a GBP700 billion bill." Another quote in the same article: "For nurses and lawyers and farmers and dentists and fishermen and traders to agree to pay for years (and even decades) GBP700 billion, simply because one bank had an irresponsible operation in a foreign country is a very difficult political task."

It doesn't take much genialness to understand that the old debt payment plan is not a working plan. In fact: it's no plan at all, nor for the debtor, nor for the creditors: it just creates and maintains a financial desert, with no economic success chances what ever. It's drafted without a reality check, powered by wishes, not by reality. It was just the first plan try-out. No offense. Expecting bull's eye in just one shot is not realistic. Let's create a new plan that builds Iceland and covers the occurred loses all together. Let's not get hard to the negotiators on all sides: they were send due the situation into a total new territory. Let's learn of Versailles, not repeat it.

Put in UK or NL perspectives (relative to their number of inhabitants) this bank deposits insurance law would result in huge numbers in debt figures for IS. Just do the math and you'll see that the current payment proposal was not realistic. Certainly for a very small economy of only 320.000 people, that on top of that economic also mainly has to start all over again almost from scratch. A translation of the effects of this law to own proportions/figures is something the UK and NL should have done: openly or in silence, that's not important for the outcome.

This proportional very large debt is something that can't be solved with a long payment holiday period: this is a structural economic burden for companies and households for a decade long. Iceland had the choice of becoming the 'Cuba of the North' (isolation) by not signing, or becoming the 'Haiti of the North' (poverty) by signing. A difficult choice.

Without multilateral support to get the debtor back on its feet, this could have some severe external consequences (for example: an exit of Iceland from NATO etc), due to the internal consequences of a bankrupted nation with not much of future perspectives: a greenhouse for a Weimar-like situation.

Helping a debtor and by this taking care of the energy supply for the UK and Holland is certainly an opportunity. Helping them to get on their feet is certainly part of the european tradition.

Blaming each other doesn't deliver any solutions, nor for the UK, nor for Holland, nor in Iceland. Polarization within Europe doesn't help Europe further. Polarization within Iceland doesn't help Iceland further. It's time to solve the occurred problems. The 'Energy for Debt' option is the only one that provides a valid solution for all stakeholders.

Iceland could supply the UK and Holland all the energy it needed generate in a mix of wind and geothermal. Clean, cheap and with no negative geopolitical consequences that are attached to oil. The geothermal energy generation potential if Iceland is larger than our imagination (due its geographical location exact on the merge of two tectonic plates): it's both just what we need and exactly what we like.

This 'Energy for Debt' option could give the UK and Holland a wider head start in becoming the digital/fiber cross points of Europe. This addresses the main port strategy, already implemented in seafreight, airfreight, airplane passengers, oil, natural gas, power and fiber.

The dutch state owned power infrastructure company Tennet has already done an Iceland/UK/Holland power cable feasibility study. All HVDC cables have build-in fiber cables for datatransport. Both Tennet and Novec (the daughter company of Tennet that operates the state owned wireless towers and fiber wires) certainly can be a part of this european cross point strategy in both power and data.

The recent Eon network in Germany purchase by Tennet is a proof of this strategy. When Desertec (power from the desert) also will be operational, the UK and Holland than will have a head start in international power transmission management.

Furthermore: All the datacenters of the world certainly will go 'up north', as cooling requires 'up north' almost no energy ('down south' it takes +70% on the server/storage energy use). For example: Within Google is moving up north the only valid option (as moving off shore on sea is too expensive in terms of insurance). The colder climate of Iceland is certainly a very attractive environment for datacenters if the fibers will be build-in the HVDC cables and this cables will have a good redundant configuration.

In our 'Energy for Debt” proposal UK and NL help (both by engineering and capital funding) Iceland to develop its geothermal resources with an HVDC cable network to the european mainland and repayments will be done from-out a surplus and not a deficit. The capital is funded within the business case and will not burden the Icelandic state, but is fully generated by the business case.

In all HVDC (High Voltage Direct Current) cables there is also fiber installed. When the cables are redundant Iceland will become beside energy supplier of Europe, also the datacenter location of the world (as cooling takes all over the world +70% extra energy on top of the servers/storage energy use and in Iceland this could be only 5%. All the big data companies (Google, Yahoo, Microsoft, Sun, IBM, etc) will open datacenters in Iceland.

Helping another nation getting strong again (after a set back) is very much in the european tradition and on top of that also very much in each nation's own interest. As we all know Versailles has proven to be not the right answer, and this situation is also much more different to the post WW I situation.

In our perspective is helping the Icelandic economy back on its feet and by this solving also the debt issue the only right way. The other way around is not a workable plan we think.

For more details on our solution basic principles please visit http://www.openfoun.org. For testimonials concerning our economic concepts please visit http://www.planck.org.

I know for sure that the 'Energy for Debt' option will give Iceland a new perspective in 2010. It will also gives Iceland, the UK and Holland more energy diversity and more energy security. A good financial and a good energy system are the two main builders of prosperity. Something we've certainly forgotten in the last years.

Iceland has very valid/crucial items (energy diversity and energy security) to offer to Mainland Europe. That's the base line of our 'Energy for Debt' proposal.

It changes the focus of the discussion to a mutual cooperation tone of voice, and give Iceland an economic impulse plus energy independence, plus it gives Iceland, the UK and Holland regional (geopolitical risks free) originated (and clean generated) base load energy, that can't deplete like oil/gas/coal/uranium. Plan B is about insuring Europe's wealth if fossil energy prices get higher and higher due to PeakOil and the increasing demand of the emerging nations.

It's very important to understand that the geothermal capacity of Iceland is unlimited. It's not a finite reserve, it's just an unlimited capacity, only limited by the exploration efforts. The earth's core feed has no limitations. Iceland's geographical position (on the edge of two tectonic plates) brings the earth core energy for free much more closer to the surface.

On other geographical locations (like Continental Europe) 'tapping' into the heath of the earth's core requires miles deeper expensive drilling (the more deeper you drill, the more expensive the drilling becomes).

By its geographical characteristics Iceland just has an unique geographical position. Iceland can become the Saudi Arabia of the North by exploring its unique geographical characteristics.

Geothermal energy is not about exploring the limited presence natural geysers, this is a common misconception, that causes some resistance against exporting energy in Iceland. Geothermal energy exploration is about exploring the earth's core heath by artificial installations. Geothermal exploration has no other environmental impact than the factory buildings (which can be integrated in the landscape by natural roof design). The only possible environmental impact can be the ground water level (due to drilling), something that needs certainly ground water leaking prevention/research.

For more information on geothermal energy take also a look at http://en.wikipedia.org/wiki/Geothermal_power and/or http://en.wikipedia.org/wiki/High-voltage_direct_current for some technological background information. If you're rather more a viewer than a reader, you can watch short video based explainations http://www.youtube.com/results?search_query=geothermal+energy+process. Geothermal is the in energy scenarios often forgotten renewable 'sun' (the magic word for the left wingers) or 'nuclear' (the magic word for the right wingers) feed inside the earth.

Please check the attachments concerning our models for an 'Open Finance Platform for the coming Energy Transition Investment Wave', plus general Open Foundation and Energy Indus information.

If you want some testimonials concerning our economic analyses and solutions please visit http://www.planck.org. If you want some energy related 21st century economic development models, please visit http://www.openfoun.org.

What's could be the planning for the 'Energy for Debt' solution? First things first. First the Administrations of UK/NL/IS need to agree on the mutual benefits of this 'Energy for Debt' possibility. Let's do that first, it's simple and has huge impact on normalization of the relations. From there it's 'down hill' in terms of complexity, as irritation than will replaced by mutual interests based cooperation. There's an urgent need of a mediator that has the trust of all parties involved. Both for domestic and international. The polarization needs to be played down totally into a cooperative common ground ambiance. With polarization driven everything, nothing will be achieved.

The finance of the 'Energy for Debt' solution can be done both market and governmental driven by our Open Finance Model, the realization by its attached Open Technology Model. The Open Finance Model performs even in times of a Credit Crunch (what has caused all this turmoil).

Good future models are designed to be open. Closed models are just based on 20th century thinking. Our model for Iceland is an open design. Open in technological design so that the geothermal and transport technologies advance very fast. Open in licenses/concessions model. This open concession model prevents that the geothermal resources of Iceland will be explored by just one giant company, with all the problems attached to that (so no single operator based design). Open in transport model by which even for small energy generating companies can export their generated power (kWh or hydrogen) easy and cheap to Continental Europe (so no single operator based design). Open in finance design, so that every business can use it and has access to (so no single operator based design).

The cornerstone of our open finance model and attached open finance platform is that the investors get paid back in kWh and not in any currency (USD or Euro). For long term investors like pension funds a ROI in kWh is very attractive, as it prevents asset value decline and gives asset value growth. Our energy finance model delivers them for free a hedge (insurance) against inflation (as currencies will decline in value a lot the next decades) and also for free a capital growth model (as energy will increase in value a lot the next decades).

By this currencies hedging characteristic of energy investments with ROI in kWh will gain enormous market share, as all financials will hedge their currencies attached assets by kWh attached assets. Energy investments with ROI in kWh will proof to be the gold of the future. Gold (the old currency hedger) is a solid, but not 'working' asset. Energy investments performs actual production, that's why they will gain enormous popularity.

This not very pleasant situation for all three nations, can be the birth-ground of the energy transition to a more 21st century suitable model for all three nations. Severe loses than become major advantages.

For Europe certainly Iceland is a huge energy opportunity as the North Sea oil reserves are declining in rapid speed. Back to the model of importing fossil energy from other regions equals exporting wealth to that regions. And when energy gets expensive, this would be a wealth drain.

Iceland can also be a part of reducing global tensions in the 21st century with energy as underlying course, as the 21st century will be characterized by energy deficits. The hidden costs of a fossil based energy system are sending soldiers to hostile nations far away and supporting hostile/corrupt regimes, just for insuring the delivery of the energy/resources that they own.

Iceland can give Europe the energy diversity/security it needs, without geopolitical tensions. Energy equals sustainable prosperity. The costs (actual and hidden) of fossil energy will increase each year more and more.

There are certainly huge technological changes needed for maintaining wide spread global prosperity the 21st century. Otherwise new realities in high prices for energy, water, resources and food, plus the currently huge geographical changes in purchasing power (the rise of the emerging nations in the east and the south) will have significant prosperity effects for the Western World.

Economies that are mainly driven by abundant available cheap energy and don't change their energy model will 'slow down' severely by high energy prices. It's change or decline. That's the truth in one line. Just based on economics and mathematics, without any opinion or political flavor. We've seen this in 2008 and we will see this more often, till we understand that energy is the main driving force behind our prosperity and act in a similar way.

Expensive energy is the end of the current low energy price based economic model. We need to grow up. Become economic mature. We've been adolescence since the '60ties. But that doesn't work anymore. More demand + less supply = higher prices. Everybody knows it, but not many dare to say it loud: We're running out of cheap and abundant energy (and by this out of prosperity), unless we change clever our energy directions.

Energy use has build our economies in the past, energy use will drain our economies in the future. Economic driven smart energy generation and economic driven smart energy use will give us what we want: a good, prosperous, sustainable and peaceful life. The old days are over, in energy, in credit and in geopolitics. Denial of that is expensive and leads to new economic recessions, till we see that economy = energy, and we know that cheap credit en cheap energy only build short periods of prosperity and can't grow sustainable prosperity or international stability. Future prosperity is just about changing some energy directions clever on time.

Massive exploration of geothermal in Iceland is certainly such a clever direction. Both for Iceland and Europe. In energy perspective Iceland holds the better cards right now. That's certainly a perspective changing view for Iceland and its people. It will change the tone of voice in addressing/solving the debt issue in EU/UK/NL/IS.

Washington, February 24, 2010

Gijs B. Graafland

The GeoThermal Option for Economic Recovery of Iceland

Geographical Situation. Iceland has a geographical unique location on the collision/edge of two huge tectonic plates: the European and the North American. Due to this the nuclear fusion driven endless heath of the earth core ‘has a hot fold to the earth’s surface’ in Iceland. This creates possibilities to harvest geothermal on the low height parts of the fault. The tectonic fault is a line from north to south on Iceland. Iceland also is surrounded by the high seas, which can deliver abundant water need for the geothermal energy harvesting process.

Harvesting Process. This harvesting is done by drilling 2 (redundancy is also here important for delivering operational stability) water injection pipes and multiple steam ejection pipes in (often) a circle around the injection pipes. The cold water input crushes the underground rocks due temperature change which automatically delivers small ‘waterways’ in a circle around the water injection pipe. If they reach the ejection pipes the circle is round and the hot water harvesting process can start. The only energy input in operation is the water injection pump, as the return path of the water is powered besides the earth internal pressure also is very much powered by the internal water pressure due to heat. The very hot (under pressure) water comes to the surface in pipes and due the lower pressure it vaporizes in hot steam which powers turbines, which delivers power. The process delivers both power and clean (condensed, thereby sweet) water. As water input salt seawater can be used. Concentrated rest water can be injected again into the wells (or if they have only NaCl: into the sea). This process of harvesting geothermal energy delivers the cleanest/cheapest power in the history of mankind. Another very beautiful facet of geothermal energy is the fact that it delivers a continuous base load, it depends not on daylight like solar energy or on wind like wind energy. It a 365*24 continuous process that delivers each second of the year the steady same amount of kWh as it designed for. Geothermal energy is harvesting an endless non-finite fully renewable energy source, which is very clean and has no impact on the local environment and global climate.

Transport Process. Power can basically be exported in 3 ways: 1) Transport Process. Power can basically be exported in 3 ways: 1) Embedded in products (moving energy intensive industries like aluminium, but also silica ingots for PV solar energy modules to Iceland). Each product has an energy component and of some products this energy component is very high. These products can be used as in products captured energy export method. 2) As fuel (power > hydrogen). The power to hydrogen process with the current technology status delivers a severe energy lost. Still is a perfect method to benefit of not used energy in every energy model. As hydrogen becomes more common/voluminous the technology to realize it more cold (warmth is now the unwanted process by-product) and there by with better output ratios. There is no hydrogen transport and distribution infrastructure yet. Hydrogen is a not very compact gas, so it transport demands more transport capacity than of other fuel gasses like LNG. 3) By wire: New power transport technologies delivers only an approximately 3% lost per 1000 km (i.e. approximately only 5 per cent per 1000 mile). HVDC, LTS and HTS are these new technologies, where HVDC (High Voltage Direct Current) have taken the leadership in new energy transport wires as they have the best ROI, successful and voluminous install base. Inside de cables there also optic fibre cables for data transport. Making it possible for the very energy intensive data centre industry to move ‘north’ where a) power is cheap and b) cooling (in the south responsible for +70% energy demand per data centre) can be done by nature. Wires needs to be multiple redundant, as accidents may not harm more than some per cent of the total transport volume. Redundancy makes wires also not attractive as war/terror targets. Wires needs also a hydrogen backup component on both sides of the wire for maximal power ROI on the sending side and maximal power security on the receiving sides.

Transport Model. The transport model must be open. The early days of the oil age have proofed that severely. Who holds the transport, controls the bridge to the market. Transport monopolies are therefore not a good model, but open transport models are needed. All cables financed by the Open Finance model therefore must be open to everyone by digital capacity auction. So the market determines always the best and fair price for both supply and demand. Each cable connection will be hosted in a separate company (unlocking more tight back to back finance). Each cable connection will have a certain percentage long term capacity and a certain percentage spot market capacity. Long term capacity leasers can offer their capacity on the spot market if they have more transport capacity than own transport demand. Governments of power receiving nations are a special breed of long term capacity leasers. By this they ensure power price stability in their nations. Wire transport models must always compete with hydrogen based gas transport models. They operate in symbiosis. Hydrogen plants live of the power generation that has no transport capacity or remote demand available. For example night time power can be used to produce hydrogen (or to pump water into hydro reservoirs). Huge energy demanding processes base factories in Iceland will only operate in night times. This energy price based flexible process operation within factories is very standard in the USA for huge energy consuming processes like recycling). Everywhere energy prices making up most of the cost price, this will become more and more common practice. There will be hydrogen powered power plants in the remote sea harbours of Europe, Russia and America. Due the easy start-up of this hydrogen > power process, the power plants will be used to generate/supply attractive peak load power demand.

Technological Model. The needed science/technologies/businessmodels are numerous: geodata, geolicensing, drilling installations, drilling pipes, water management, water chemical analysis, stream/hotwater pipelines, steam reactor vessels, stream turbines, power cables, power transformers, cable ships, hydrogen process, hydrogen storage, hydrogen transport, financemodels, green houses, fish farms, etc, etc, etc. All these needed science/technologies/businessmodels will be developed in open models, everybody can contribute under moderation of smart professionals, capable of managing loads of information. There will be a complaint structure for people with different views than the moderators. This moderation will be done online (not on one location). This moderation will be done paid related to activity level. By this model every interested business can obtain for free the best possible science, technologies and business models for implementation. They can hire contributors for the implementation process. Open models strongly accumulate human knowledge and contribute severely to economic improvement.

Licence Model. Every business can obtain a geolicense of one square kilometre each for a small production area both on the right and left of the tectonic fault. The licences must be brought into production within 2 years after receiving otherwise the license will be revoked. Licences can not be traded (preventing speculation on licences). Licences can not be used as collateral (preventing a credit bubble based on licences). Licences forbid the use of fresh water (as that is a limited natural resource, but seawater is an unlimited resource). The geolicense model needs some sever clever minds to rule out speculation, credit bubbling and non exploration as much as possible. The license fees have a start fee and an operational fee. The start fee is used for infrastructural projects (seawater in infrastructure, concentrated salt water out infrastructure, fresh sweet water use infrastructure, warm water infrastructure for houses, offices, factories, fish farms, green houses, power lines, roads, bridges, etc). By the start licence fees the Icelandic Administration is financial ready for every infrastructural investment with no state loans needed. The operational fee delivers the Icelandic State a huge continuous income in by a 0.5 % of the generated kWh, making taxing the people and companies no longer needed. Iceland will become the first tax free nation of the world driven by monthly geothermal licence income. And the operational license will be paid in kWh, so this gives the Icelandic Administration also a hedge against currency value decline. This can make the Icelandic Krona a very strong currency. The only thing the Icelandic Administration needs to do is mapping a licence geographical map. If the result of the legal research is that Iceland needs to pay the Icesave debts in Europe (this is not clear yet in legal terms), than Iceland can offer the UK and Holland a certain percentage (like for example 5%) of this continuous operational license income to release the debt without any actual burden for the state budget of Iceland.

Business Model. By the open science/technologies/businessmodels ambiance every interested business can obtain for free the best possible science/technologies/businessmodels for implementation. A fair playfield demands certainly an open access for everybody. They can hire contributors for the implementation process. Open models strongly accumulate human knowledge and contribute severely to economic improvement. Businesses can use the infrastructure delivered Finance Model to fund their business cases out of the global capital markets. Due the ‘kWh as ROI’ model, global investors will appreciate these business cases as it gives them a hedge against currency value decline. Due the Open Models investors knows they invest in cases researched/developed by world’s smarted brains. This leaves them with significant fewer risks then in any other investment. A good management team, some equity and a good licence location for example is all what’s needed for a realizing one of the thousands possible geothermal plants.

Tendering Model. Specification based auctioning/tendering for purchase/sales/finance delivers the best deals possible for every party involved. The specification based model contributes enormously to innovation and security: it focuses everyone’s eyes on improvement of specs, terms and guarantees. It also delivers a bribe free purchase and sale system for everybody and by this contributes to the fair play movement and improvement movement within the business culture. Prices and guarantees are the answers on specification based tendering. For example suppliers will certainly seek state warranties of their own governments to support their bids. The tendering model facilitates both demand and supply in hosting their business case, making it easy for both sides.

Finance Model. Businesses can use the ‘capital infrastructure’ delivered Finance Model to fund their business cases out of the global capital markets. Due the ‘kWh as ROI’ model (as in: kWh as repayment ‘currency’), global investors will appreciate these business cases as it gives them a hedge against currency value decline. Due the Open Models investors knows they invest in cases researched/developed by world’s smarted brains. This leaves them with significant fewer risks then in any other investment. A good management team, some equity and a good licence location is all that needed for a realizing one of the thousands possible geothermal plants. Due the tendering model, financiers knows they get to best money can buy as collateral in terms of specs and guarantees. Due the multiple (commercial, governmental and also market demand issued) guarantees financiers gets multiple guarantees. Demand supplying market parties are also very good guarantee issuers: their customer base delivers a direct connection to enduser originated power payments. Combined with delivery (partial debtor) collateral this direct link to this revenue source is ensured maximal. Furthermore there will be collateral on the kWh output. Operation can be insured by operational and maintenance contracts. The Open Finance Model has just two goals: a) facilitating capital supply and demand maximal and b) ensuring maximal financers have maximal value security. When this message arrives in the brains of the financials worldwide, the model will be very voluminous in turnover. The fact that financiers and guarantee issuers get always kWh will make the Finance Model the widely used and perfect hedge against currency value decline, which is inevitable as there is printed a lot money worldwide the last years and the end of this is still not in sight. This is why Open Foundation advocates the use of Quantitative Easing only for energy transition investments, as fossil energy drains an economy and renewable energy enriches an economy.

National Model. National States that issue any type of guarantees will get an energy guarantee funds in return after the sales of the investment. These funds are funded by selling the finance cases to long term investors, which will deliver quite a profit. These investment case profits will fund this national energy transition guarantee fund, so that their local banks can lend more out for local energy transition investments. This way the profit on sales of the investment cases of global energy transition investments facilitates increasing local energy transition investments.

Initiation Model. Joint interest of the UK, Holland and Iceland. So an office in London, Amsterdam and Reykjavik. Employees detached by the respective nations. Each nation delivers also an auditor who do continuously the auditing for and reporting to the Administration that has hired them. In phase two (as the prospectuses are made ready and banks supported are gathered) there will be sales branch offices in Silicon Valley, Wall Street, Beijing, Shanghai and Abu Dhabi.

Actual Version. An actual version of this info can be found on http://www.planck.org/projects/iceland/geothermal. This PDF file version can be found on http://www.planck.org/projects/iceland/geothermal/The-GeoThermal-Option-for-the-Economic-Recovery-of-Iceland.pdf.