Daldrup & Soehne in talks to acquire further stake in Landau geothermal plant

Nov 21, 2013 - German drilling and environmental engineering firm Daldrup & Soehne (ETR:4DS) is examining the possibility to raise its stake in the Landau geothermal plant in the state of Rhineland-Palatinate to 50% through its subsidiary Geysir Europe GmbH, the company said on Wednesday.

Geysir Europe is currently in talks with utility Pfalzwerke AG, owner of a 50% stake in Geo X, the company operating the Landau power plant. The subsidiary acquired a 40% stake in Geo X from energy supplier Energie Suedwest AG earlier in August, with an option to buy another 10%.

The power plant has a 3 MW electricity and 7 MW heat capacity and can provide power for 6,000 and heat for 200 to 400 households. The facility has been operating since November 2007 with two 3,000 m (9,843 ft) deep wells.

A third well has been planned for the optimisation of the power plant. The schedule for the drilling works will be announced after the completion of the current negotiations, Daldrup & Soehne said.

Financial details of the future deal were not disclosed.

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