Daldrup & Söhne AG secures drilling contract for geothermal heating project in the Netherlands

Daldrup & Söhne AG secures drilling contract for geothermal heating project in the Netherlands Drilling rig on site in the Netherlands (source: Daldrup & Söhne AG)
Alexander Richter 23 Mar 2020

German drilling and geothermal company Daldrup & Söhne AG has secured a EUR 20 million drilling contract for the drilling three wells for a geothermal heating project in the Netherlands.

The drilling technology and geothermal energy group Daldrup & Söhne announced last week that it has received an order from Aardwarmte Combinatie Luttelgeest BV, Luttelgeest (ACL) for three geothermal wells with drilling lengths of up to 2,440 meters and the construction a heating plant and a heating network. The contract has an estimated value of EUR 20 million (USD 21.4m). The Daldrup Group’s current order backlog is approx. EUR 51 million.

The contractor is GERF B.V., a company of the Daldrup & Söhne group, which operates in the Netherlands. The drilling depth of the production well will be around 1,800 m. The temperature of the pumped water is expected to be just under 80 degrees Celsius, the pouring is expected at around 90 liters / second. The installation of the drilling site in the municipality of Noordoostpolder has been completed, and the drilling rig has already been fully erected. This means that the first hole is about to start. The project is expected to be completed with the completion of the heating center in spring 2021.

Daldrup & Söhne AG once again successfully introduced the Alternative Risk Transfer (ART) concept it developed into this project. This integrated insurance model includes, among other things, a discovery insurance. In this way, it is possible to make such geothermal drilling and energy projects financeable through debt in an early project phase and to keep the client’s capital requirements low during the exploration phase.

The new customer ACL is a Dutch greenhouse operator that has joined forces in the course of this project. After the customer Nature’s Heat, ACL now also supplies the connected greenhouse complexes almost entirely from geothermal heat. The planned heating output is approximately 18 MWtherm.

In an annoucement a couple days later, the company further reported the retirement of Josef Daldrup and his transfer into the Board of Directors of the company.

Source: Company release