E.on, Deutsche Erdwaerme to partner on deep geothermal projects
Deutsche ErdWärme's Herbert Pohl and E.on's Alexander Fenzl sign a partnership to develop geothermal projects. Image by Deutsche Erdwaerme.
Power company E.on SE (ETR:EOAN) and geothermal plant operator Deutsche Erdwaerme (DEW) have joined forces to develop geothermal projects in an effort to provide regionally generated, affordable green energy for the heat transition in Germany.
The two partners will aim to extract thermal energy stored at depths of around 1,000 to 4,000 meters and supply it to consumers in the form of green heat. The cooperation will support the decarbonisation of the German heating sector which accounts for about 40% of the country's energy consumption and is still dominated by the use of oil and gas.
“Geothermal energy can replace fossil fuels in a climate-neutral way in the areas of heating and hot water and as industrial process heat. It is therefore particularly attractive for densely populated regions dominated by industry and trade," said DEW's founder and chief executive Herbert Pohl.
The scope of the cooperation includes the identification of projects and feasibility studies, as well as the development, construction and operation of geothermal plants.
The first pilot projects will be implemented in North Rhine-Westphalia, combing DEW's expertise in deep geothermal energy and E.on's experience in scaling projects.
The two partners want to tap the geothermal potential as surveys by the Fraunhofer Institute show that Germany's deep geothermal energy could produce more than 300 TWh, covering a quarter of the country's annual heating needs.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.