Good news for the geothermal project in Gelting: The company Eavor receives a grant of 91.6 million euros from the European Innovation Fund.
Gelting – The company Eavor, which is behind the geothermal project in Gelting together with Enex Power Germany, receives a grant from the European Innovation Fund (EIF).
According to the announcement, the EIF is supporting the ambitious project with EUR 91.6 million, in which a total of a high three-digit million amount will be invested.
Geothermal project in Gelting: Subsidy of 91.6 million euros
As reported, geothermal energy is to be used with a new technical concept.
At a depth of 4,500 meters, Eavor wants to lay and connect a total of four thermal loops.
They should enable a continuous, closed water cycle.
The aim is to extract heat from the subterranean rock and bring the energy to the surface.
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Work began in October 2022, with drilling for the thermal loops scheduled to start in July.
Two of the largest drilling rigs in Europe are under contract for this.
The construction of the power plant is to be carried out at the same time as the drilling work.
The turbines for this will be supplied by the Italian company Turboden.
First power production is planned for the fourth quarter of 2024, with full capacity expected in 2026.
Geothermal energy in Gelting "of utmost importance"
Eavor co-founder John Redfern thanks the European Commission for the grant.
It is honored to be included in the EIF program alongside so many prestigious European companies.
"Eavor would like to thank the regional stakeholders, the Bavarian and German governments, the community and the project partners," adds Eavor Managing Director Daniel Mölk.
According to Philippe Dumas, Secretary General of the European Geothermal Association, the project in Gelting is "of the utmost importance".
Among other things, it will increase the security of the power supply and help to reduce greenhouse gas emissions.
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