German-Austrian group enters geothermal market in Bavaria, Germany
A German-Austrian group has acquired the geothermal project at Garching an der Alz in Bavaria, Germany from its owners Geoenergie Bayern and expects start of initial work on the project later this year.
In a release today, a German-Austrian group has announced the acquisition of the Garching geothermal project in Bavaria, Germany.
The partners STRABAG SE subsidiary Ilbau Liegenschaftsverwaltung AG in Germany and Vienna/ Austria based RAG Crude Oil Investors, have acquired the full ownership in equal parts of “Geoenergy Bayernprojekt Garching a. d. Alz GmbH & Co. KG “, the developer of the Garching project. The purchase agreement with the previous owner Geoenergie Bayern Verwaltungs GmbH is legally binding, and approval by the competition authority has already been secured.
The partners founded “Silenos Energy” to act as the developer to carry out thegeothermal energy project in the Bavarian municipality of Garching an der Alz. The goal is to tap the geothermal resources of the southeastern Molasse Basin of the pre-Alps area in Bavaria. Many prerequisites, approvals, concessions and planning documents have already been submitted, including the permission to build the site and the building permit for the plant.
For STRABAG and RAG, the joint project offers the opportunity to tap into the exciting and future-oriented business field of deep geothermal energy in Germany. The combination of the competences of both partners is a key success factor, as Christian Steinbauer, one of the two managing directors of the company, emphasized: “By the close of the shoulder, we have created ideal conditions for the realization of the project: RAG brings its comprehensive know-how Deep drilling and STRABAG in power plant and plant construction. ”
Oliver Friedlaender, Silenos CEO at RAG, adds: “With Silenos Energy, we are creating a unique bundle of competences for the geothermal energy market. Our activities focus on transparent dialogue and trustworthy and sustainable relationships with our direct environment. Silenos Energy understands itself as a comprehensive and reliable partner of its customers, which harmonizes the financing security and state-of-the-art technology, thus realizing the best solution. ”
In the first phase of the project, initial work on the project site will take place at the end of this year. The entire duration of the project up to plant operation amounts to approximately 33 months. The plan is to develop a geothermal plant with an installed power generation capacity of 3.5 MWe and 6.2 MWth for heat production. When operational, it is expected that the plant provides up to 26 GWh of electricity and 20 GWh of heat per year.
STRABAG SE is a European technology group for construction services leading in innovation and capital assets. Details at www.strabag.com.
RAG is an Austrian company, which has been delivering secure, efficient, environmentally and productive energy from local plants for over 80 years, acts as an energy supplier. Several geothermal projects in Austria and Germany actually are utilising wells initially drilled by RAG. Details at www.rag-austria.at.
Source: Press release by email