Singapore firm acquires Traunstein, Germany geothermal project
Singapore-based Twenty20 Energy has acquired the Traunstein geothermal project in Bavaria, Germany through the acquisition of Petra Energy Holding.
Singapore-based innovative energy solutions provider Twenty20 Energy (T20) has announced the acquisition of Petra Energy Holding Sarl, owner of the Traunstein geothermal project in the Traunstein district of Bavaria, Germany. This project is anticipated to provide both district heating and electrical power generation.
Petra Energy GmbH, a subsidiary of Petra Energy Holding Sarl, will be rebranded as Bayern Renewables GmbH and will complete the development of the Traunstein geothermal project. The project is located SE of Munich in the Molasse Basin, close to the Traunreut combined geothermal heat and power plant.
There is a proven geothermal resource in the region, supported by 3D seismic data and history of geothermal exploitation. Early-stage modeling indicates an estimated capacity of 20 MWt of heating and 13 MWe of power generation.
“We are pleased to add the Traunstein Geothermal Energy Project to our diversified mix of energy projects. We identify opportunities to deploy cleaner energy technologies to address specific, targeted needs in a financially viable manner. Geothermal is a perfect fit in our strategy to provide environmentally friendly and renewable energy options that safely and reliably serve the regions in which we operate. Our solutions integrate the latest technologies while balancing financial and environmental imperatives, delivering energy where it is needed to support economic and social development mandates. We are excited with the opportunities ahead,” commented Geoff Lawrence, CEO of T20.
Source: Twenty20 Energy