Daldrup acquires 40 percent stake in Landau geothermal plant
Geothermal power plant in Landau, Germany (source: flickr/ webguy63, creative commons)
Alexander Richter
21 Aug 2013
German drilling and power generation company Daldrup & Söhne acquires 40 percent stake in Geo X, operator and owner of the Landau geothermal power plant in Germany, planning now the drilling of a third well to remain operating a sustainable power generation.
Last week, German geothermal drilling and energy company, Daldrup & Söhne announced that – over its daughter company Geysir Europe – has bought a 40 percent stake in the power station operator Geo X from the utility EnergieSuedwest.
EnergieSuedwest had announced its planned exit from the project earlier this year. Daldrup announced the installation of its CFO Curd Bems as second managing director of Geo X GmbH beside Dr. Jörg Baumgaertner, owner and managing director of Bestec GmbH.
The owners now plan the drilling of a third well already this year. This should expand the economics of the plant sustainably with a consistent power capacity of 3 MW and a heat capacity of 7 MW.
Source: Daldrup press release via Yahoo
