Think GeoEnergy
Summary
In an announcement today, it is reported that E.ON and Danish geothermal development firm Geothermal Operating Company (GEOOP)’s existing owner group have decided to let E.ON increase it shares of ownership to allow GEOOP to be integrated into the E.ON group.
E.ON is a European electricity utility company, running one of the world’s largest investor-owned electric utility service providers. The company has operations all over Europe and has increasingly also looked into geothermal district heating. Among others the company is currently developing a geothermal project in Malmo, Sweden, just across the straight from Copenhagen, the capital of Denmark. One of the stakeholders in GEOOP, Ross DK is involved in this project. The company had also been involved in efforts in other countries, such as the UK. Furthermore the company owns a large stake in ORCan Energy, a small German ORC technology company, that has set up small power generation units at a geothermal project in Bavaria, Germany.
The move announced is made to strength E.ON and GEOOP ambition to increase the green energy production from geothermal energy in large scale in the Copenhagen and Øresund region.
In 2019, the new daughter company in E.ON submitted an application for exploration to the Danish Energy Agency with the intention to produce geothermal energy for district heating in Copenhagen. GEOOP has asserted that there is more energy in the hot water beneath Denmark in comparison to the total reserves of oil & gas in the Danish reservoirs.
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