Geothermal plants of Taufkirchen and Landau brought online in Germany
German geothermal energy and drilling company Daldrup & Söhne reports that it has brought its two geothermal power plants in Taufkirchen and Landau online.
In a release today, Daldrup & Söhne, a geothermal energy and drilling company, updated its two geothermal power plants in Taufkirchen and Landau that are now on the grid. Both plants fall under the favourite feed-in-tariff of the renewable energy scheme in Germany. The company further reports that it has an order backlog from Germany and abroad in the drilling services business at the end of August of EUR 63 million (status at the end of May 2018: EUR 49 million). The drilling business is working at full capacity until beyond 2019.
Taufkirchen has started operation
After the first power feed-in at the end of March 2018, Daldrup & Söhne AG, through its subsidiary Geysir Europe, carried out further operational tests and carried out technical optimisations on generators and turbines, among other things. For example, the turbine’s so-called nozzle ring had to be replaced. The work has now been completed. The power plant is connected to the grid.
The second evaporator for electricity production has been ordered. The Executive Board expects to connect the full power generation capacity to the grid in the first half of 2019. Thus, the company can use the 2018/2019 heating period for full heat sales to the communities of Oberhaching and Taufkirchen.
At the beginning of 2018, Geysir Europe acquired Axpo Power AG’s 35 percent stake in the Taufkirchen project company. Daldrup & Söhne AG thus holds 55 percent of the shares at Group level.
For the current financial year, the Executive Board expects the sale of electricity and heat in Taufkirchen to contribute around EUR 2.6 million to Group sales and an EBIT margin of around 31 percent.
Landau with very satisfactory economic results
The Landau power plant has been producing electricity very successfully since it went into operation in the fourth quarter of 2017. For 2018, the Executive Board expects sales at power plant level of around EUR 2.4 million and an EBIT margin of around 5 percent from the sale of electricity.
At the end of 2017, Geysir Europe acquired the 50 percent stake of Pfalzwerke AG in the power plant. At group level, Daldrup thus holds 67 percent of the power plant. In addition, there is the option of acquiring the remaining 10 percent of the operating company from EnergieSüdwest AG.
As forecasted, the Daldrup Group will report significant sales and earnings from power plant operations for the first time for the 2018 financial year: sales of around 5 million euros and EBIT of 1 million euros. The strategic goal has always been: Daldrup & Söhne AG must also become an energy supplier. The goal has been achieved.
Drilling work for the power plant in Neuried expected to begin in 2019
The approval process for the planned geothermal power plant Neuried in the Ortenau district has been resumed with the Freiburg regional council. The participation procedure with the municipalities has been completed, the detailed planning is being carried out in close coordination with the regional council and there will also be an information event for the citizens. Talks with financial investors for the participation in the project company are well advanced. The Executive Board expects to start construction of the drilling site in the first half of 2019.
Puchheim heating plant to be realized with financial investors
The geothermal project Puchheim for a combined heat and power plant will be pursued further without participation of the city of Puchheim in the project company. In a decision by voters, the citizens had spoken out against such participation. Irrespective of this, the Daldrup Group will continue to pursue the project with financial investors.
Source: Company release