Eavor secures EUR-92m EIF grant for geothermal project in Germany

Eavor Technologies Inc announced on Thursday that it won a EUR-91.6-million (USD 97m) grant from the European Innovation Fund (EIF) to support the ongoing deployment of its geothermal closed-loop technology at a site in Germany.

The company is already undertaking construction work on the Eavor-Europe project in Bavaria, south of Munich and near the town of Geretsried. The project, being developed alongside partners Chubu Electric Power Co Inc and Enex Power Germany GmbH, represents the world’s first commercial implementation of the Eavor-Loop technology.

The system involves the circulation of a benign working fluid in an industrial-sized, underground heat exchanger with no pump. It will provide clean baseload energy for district heating and power generation. More specifically, it is estimated to generate 8.2 MWe and to avoid the emission of around 44,000 tonnes of carbon dioxide (CO2) a year.

Drilling at the project site should start in July 2023, while Italy’s Turboden SpA helps design and build an Organic Rankine Cycle (ORC) power plant. The first energy is expected to be produced in the final quarter of 2024.

“Given the energy, climate and food security crisis as well as the need to meet the tripling of the geothermal target by 2030, this innovative project is of paramount importance: it will increase the security of electricity supply, help decarbonise the district heating sector, reduce greenhouse gas emissions and stimulate technological innovation all of which could also be replicated elsewhere,” commented Philippe Dumas, Secretary General at the European Geothermal Energy Council.

(EUR 1.0 = USD 1.06)

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