Chubu secures EUR 130M for German geothermal project

Chubu Electric Power Co Inc has secured a EUR 130M (USD 139.3M) project financing loan for a geothermal project in Germany with a power generation capacity of around 8.2 MW.

Located in the German state of Bavaria, the Geretsried Geothermal Project has a district heat transfer output of approximately 64 MW. It will feature four closed loops using an Organic Rankine Cycle (ORC) system to efficiently extract underground heat for electric generation and district heat supply.

The construction commenced in July 2023 with the drilling of the first loop, as partial commercial operations are expected to start in the last quarter of 2024. Full-scale operations are scheduled for Q3 of 2026.

Chubu noted that Geretsried is classified as an innovative technology regarding carbon neutrality transition and thus will receive a EUR 91.6M grant from the EU Innovation Fund.

The loan was secured with the Japan Bank for International Cooperation, the European Investment Bank, ING Bank NV, Tokyo Branch, and Mizuho Bank Ltd.

Previous articleHyGear provides PEM electrolyzer for eMethanol project
Next articleKing, Miljkovic to lead MURI-funded research
Heat Exchanger World is a leading international magazine covering all aspects of the product supply chain of heat exchangers. Heat Exchanger World is part of the KCI Group of Companies. We are a leading knowledge, communication and information company connecting business-to-business professionals by building and sustaining global communities, solving their information needs and helping them to develop their professional life and friendships.