German Geretstried project with new investor and start of drilling in May 2012
The German geothermal heat and power project in Geretsried, Bavaria/ Germany has found a new investor and expects now to start drilling its first well in May 2012.
Reported locally, the geothermal project at Geretsried in Bavaria/ Germany has found a new investor. The investor is German Renewable Energy AG (GREAG).
This was announced by Robert Straubinger, Managing Director of the project company Enex Power Germany (formerly an Icelandic owned company). The investment firm was founded this year to invest in sustainable energy projects with a focus on geothermal and hydropower and now already is a majority stakeholder in Enex Power Germany.
One of the key people in the investment firm is Daniel Hopp, the son of one of the founders of German IT/ Software giant SAP.
It is expected that the drilling pad will be built in March 2012 and actual drilling to be conducated from May 2012 to fall 2013. It is planned to drill wells up to 4,700 and 5,200 meters. The temperature expected is about 145 centigrades with flowrates of about 100 litres per second.
The project plans to build a plant with a capacity of 40 MW thermal energy supply and 5.3 MW electric power generation capacity.
Source: German Geothermal Association