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BayernLB finances private Bavarian geothermal power plant

BayernLB has facilitated the project financing of a private geothermal power plant in Bavaria, Germany, in cooperation with the development company Süddeutsche Geothermie-Projekte Gesellschaft (SGG).

By Renewable Energy Focus staff

The Dürrnhaar geothermal project will kick off a series of 5 MW geothermal power plants developed by SGG, which uses heat from a depth of 3000 m below the ground.

It is expected to generate almost 46 GWh of electricity annually once operation in January 2012.

The long-term financing amounts to €35.6 million for the geothermal power project in Dürrnhaar near Aying. HOCHTIEF PPP Solutions and RENERCO Renewable Energy Concepts AG each own a 50% share of SGG.

Alexander von Dobschütz, Head of the project financing division at BayernLB, says: "In the next few years we expect more municipal and also private geothermal power plants to be developed in the region. With our many years of experience in the area of renewable energy, we are on hand to support future projects in our capacity as a financing partner."

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