Energy Global
Summary
Cindrigo has signed a term sheet with Zukunft Geowärme GmbH (ZGW), a German geothermal project developer, to acquire a majority interest in three geothermal energy projects. The projects, located in the Upper Rhine Valley, have an initial target of approximately 90 MW (around 30 MW each), and a combined target installed potential capacity exceeding 400 MW, encompassing both geothermal power and heat generation.
Germany has one of the world's most advanced and lucrative geothermal markets, characterised by strong political support, well developed legal structure, high power prices and robust demand for heat. The German Renewable Energy Sources Act (EEG) offers a stable and transparent support scheme for electricity generation using geothermal resources with a feed-in tariff for geothermal power of €00.25/kWh, during a 20 year term. Additionally, German federal funding is available under the ‘Bundesförderung für effiziente Wärmenetze’ (BEW) a subsidy programme for geothermal district heating which covers up to 40% of construction CAPEX for heat production facilities.
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#DistrictHeating#GeothermalandGeo-Exchange