Taaleri to Acquire Majority Stake in Geothermal Plant in Germany from Erdwarme Bayern

Published: Oct 10 2017
Deal Summary

Taaleri Oyj, a financial services company, has agreed to acquire majority stake in geothermal power plant situated in south of Munich, Germany, from Erdwarme Bayern GmbH & Co. KG, a developer of geothermal energy. The total installed capacity of the plant will be 30 MW. The total cost of the project is expected to be EUR160 million (USD187.83 million). The investment per MW will be USD6.2 million.

The project consists of five wells to be drilled and the power plant to be built over them. The project has been developed by Erdwarme Bayern which will remain as a minority owner in the project. Taaleri will be responsible for the equity financing of the construction stage, along with its customers.

The plant is expected to generate power equivalent to power consumption of 50,000 households and is expected to be commercial by 2020.

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