Press Information
The inauguration of Eavor’s first commercial project in Geretsried was the moment when German Chancellor Olaf Scholz announced plans to increase the number of geothermal plants tenfold because geothermal energy is an “obvious solution” to combat climate change.
“This is ambitious, but a dependable and, above all, affordable supply of renewable energies is an advantage that is crucial not only for our society but also for our economy. For site decisions and for investments,” said Scholz.
“I would like Germany to be the first country in Europe where the Eavor-Loop™ can be used on a significant scale.”
Scholz also praised Bavaria’s key role in supplying Germany with geothermal energy and emphasized that it is crucial for Germany “to use as much geothermal energy as possible” to keep the grids clean.
In a LinkedIn post about the event, Bavarian Premier Markus Söder stated that Eavor technology represents a great opportunity for Bavarian heat generation and that geothermal energy will be a valuable asset in helping Bavaria achieve its net-zero targets.
“In the case of geothermal energy, more than 80 percent of Germany’s total output comes from Bavaria. We want that to cover 25 percent of our heating requirements by 2050.” We are substantially expanding all domestic sources of energy. Bavaria aims to be climate-neutral by 2040 – five years earlier than elsewhere in Germany,” said Söder.
The inauguration celebrates Eavor’s success in implementing its technology to provide clean, emission-free district heating and electricity to the Geretsried region. Two drilling platforms are currently drilling several kilometers deep into the ground, and when the closed-loop system is completed, the power plant will begin generating electricity in the second half of 2024. Once completed, the power plant will generate 64 MW of thermal energy for heating and 8.2 MW of electricity, saving around 44,000 metric tons of CO2 annually.
In addition, the commercialization of the Eavor-Loop™ technology promises to export these systems to other German cities and expand to Austria and Romania in the near future, thanks to a pioneering partnership with OMV.
