Geothermal Operating Company (GEOOP) is integrated into the E.ON group
E.ON and GEOOP existing owner group have decided to let E.ON increase its shares of ownership to allow GEOOP to be integrated into the E.ON group.
This move is made to strengthen E.ON and GEOOP ambition to increase the green energy production from geothermal energy large scale in the Copenhagen and Øresund region.
The new daughter company in E.ON submitted in 2019 an application for exploration to the Danish Energy Agency with the intention to produce geothermal energy for district heating in Copenhagen. GEOOP has asserted that there is more energy in hot water beneath Denmark in comparison to the total reserves of oil & gas in the Danish reservoirs.
“We see a large potential in geothermal energy. We have projects in both Germany and Sweden already. Knowledge, competence, focus on climate and economic sustainability are key components that characterise GEOOP and the owners behind the company. With the partner setup in Geoop, we are strengthening the required knowledge and insights into geothermal energy to find the right solution for the district heating system in a capital city like Copenhagen,” says Peter Jonsson, CEO of E.ON Denmark.
In connection with the change, GEOOP has hired several new employees with broad experience within the development, exploration and production of geothermal energy.
“Geothermal energy is very different from production of oil & gas. In geothermal, the single most important element is the integration into the existing distribution system for district heating. We have submitted an application to explore the subsurface with an exploration well already next year or in 2023. This is the shortest path to the best data and the pathway with which we can deliver geothermal energy to district heating. We have worked diligently to reach this point, and we are excited to have E.ON as a partner to develop geothermal energy as a component in the heating supply of the future to Copenhagen.” Says CEO in GEOOP Lars Andersen.
- Geothermal Operating Company (GEOOP) is owned by E.ON, Ross DK and Iceland Drilling. The company was founded in 2016.
- GEOOP will become part of the E.ON group with 51% of the share capital.
- The owners have as the only ones in the market experience with geothermal projects in both Denmark, Sweden, Germany, the Netherlands and Iceland.
- GEOOP has applied for an exploration license for geothermal energy for district heating across Copenhagen with the Danish Energy Agency
- GEOOP vision is to produce green energy at a sustainable price and with the least environmental impact possible to avoid unnecessary harm to nature. GEOOP will produce CO2-neutral and cost-efficient geothermal energy with a focus on the consumers at a competitive price with a high degree of security of supply – and without transporting fuel, as the hot water is right beneath Copenhagen.
- If GEOOP is awarded the geothermal license from the Danish Energy Agency, the first step is to deliver 100 MW heat – that equates to heating of 30.000 homes. The next step is to expand from there.
Lars Andersen, Director, GEOOP, firstname.lastname@example.org, phone +0045 40109002
Vibeke Agerdal Kristiansen, Head of PR & Public Affairs, E.ON Danmark, Vibeke.email@example.com, phone: +0045 30386164