Geothermal Energy attracts financial institutions

Freiburg - Having been on the forefront in renewable energy development in Europe and world-wide, Germany’s geothermal industry represents a market of enormous interest to lenders and investors, also from abroad. “While the geothermal potential in Germany might not be as favorable as in other parts of the world, its large untapped potential in the Upper Rhine Valley and in the Southern German Molasse Basin offers very attractive business opportunities” explains Alexander Richter, Analyst for Sustainable Energy at the Icelandic Bank GLITNIR. Building on networks in markets like North America, Iceland, Eastern Europe and China, their credit institution has gained considerable experience in financing geothermal projects and its experts team is prepared to support efforts in this sector across the value chain of projects.

The activities of GLITNIR, sponsor of the 3rd International Conference on Geothermal Energy on 19 April 2007 in Freiburg, Germany, exemplify the increased interest geothermal energy has gained amongst financiers. More than thirty financial institutions have already registered at the event to extend their know how and to network with geothermal industry stakeholders. “Geothermal projects are very complex, that’s why we deem it utterly important to develop structures and solutions, which help controlling the risks and ultimately help mobilizing the required capital”, notes Heribert Sterr-Kölln of Sterr-Kölln & Partners.

The same is true for equity investments . “A proper analysis was imperative before we reached the decision to invest in developing and custom-manufacturing deep drilling rigs” says Werner Suhm, member of the board of directors at Herrenknecht AG, regarding their subsidiary Herrenknecht Vertical GmbH.

The 3rd International Conference on Geothermal Energy offers insight into the latest geothermal developments in Germany and abroad. The event is endorsed by the German Federal Environment Minister Sigmar Gabriel and organized by forseo GmbH and fesa e.V.. The main sponsors are GLITNIR, Sterr-Kölln & Partners and Herrenknecht Vertical GmbH.

forseo is an internationally active center of expertise for the financing of sustainable energy. Its mission is to promote and facilitate investment in energy efficiency and renewable energy to accelerate commercialization of sustainable energy. forseo provides information, develops tools, and helps build strategic partnerships between entrepreneurs and financiers to mobilize capital for renewable energy and energy efficiency investments.
forseo is the former German office of the Basel Agency for Sustainable Energy (BASE).

fesa is a registered association, that acts as an information center for citizens, businesses and other stakeholders interested in Renewable Energy. It initiates innovative projects and promotes the use of clean energies.


Freiburg, 29 March 2007

Publication and Reproduction permitted; please send a specimen copy to
the forseo GmbH or fesa e.V.


Attention editorial offices: For further questions please contact:

fesa e.V. - press office
Milena Jokisch
Emmy-Noether-Str. 2
79110 Freiburg
Tel: +49 (0)761 / 40 73 61
Fax: +49 (0)761 / 40 47 70
E-Mail: jokisch@fesa.de
Internet: http://www.geothermie-oberrhein.de


Contact for further information on the 3rd International Conference on Geothermal Energy

Kai Sametinger
forseo GmbH
Grünwälder Straße 10-14
79098 Freiburg
Tel: +49 (0)761 2852317
Fax: +49 (0)761 2854651
E-Mail: info@forseo.de
Internet: http://www.forseo.de



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