German geothermal project tapping into heat power modules to expand power generation
The geothermal project of Kirchweidach and Swedish clean power company Climeon sign letter of intent on the supply of the company's heat power modules that will aim to utilise the excess heat of a planned geothermal plant for electricity generation.
In a release this morning, it was announced that Germany-based geothermal company Geoenergie Kirchweidach (GEK) and the Swedish clean tech company Climeon have signed a non-binding LOI covering a supply of Climeon Heat Power modules to the geothermal power plant project in the Municipality of Kirchweidach in Bavaria/ Germany. The potential order value is estimated to be about EUR5 million ($5.9 million).
The LOI is based on Climeon’s patented Heat Power technology with record high efficiency in low temperatures that will utilize the excess heat of the geothermal plant that today delivers heat to a 20 hectares green house and the city of Kirchweidach.
The owners of GEK have previously had a discrepancy in how to best develop the geothermal power plant. Now, with the solution proposed by Climeon, all parties have an aligned view on how to develop the geothermal asset. The parties are currently negotiating financing solutions. If financing is secured and the parties have agreed upon a final purchase order for a Heat Power system, a contract will be signed.
Source: Press Release