Alexander Richter, Think Geoenergy
Summary
The geothermal project of Holzkirchen in Bavaria/ Germany has had its up and downs, but things are looking like there is a “happy ending”, as reported by local publication Merkur. The Holzkirchen geothermal projects provides district heating and electricity to the local community and with the success the city’s mayor can imagine expansion and then possibly as a joint project of several communities.
So while the investment of EUR 19.175 million ($21.1 million) in tax money was promising, it was not a risk-free project and took 7 years until it started operations. But the investment has paid off.
In July 2019, the plant fed electricity into the grid for the first time and now the refinancing of the plant has started. With secure revenues, a good basis has been created, so the mayor. Beyond the direct investment of EUR 19.2m into the municipality-owned Geothermie Holzkirchen GmbH, the city also granted a subsidiary loan of EUR 5.825 million ($6.4 million), with the rest of the investment coming from a syndicated bank loan.
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