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Daldrup & Söhne AG: Order from the Netherlands for 20M Euro for geothermal Heating Plant Project

The drilling technology and geothermal energy group Daldrup & Söhne has received an order from Aardwarmte Combinatie Luttelgeest B.V., Luttelgeest (ACL) for three geothermal boreholes with drilling lengths of up to 2,440 meters, as well as the construction of a heating plant and a heat network. The current order backlog of the Daldrup Group thus amounts to approx. 51 million Euros.

The contractor is GERF B.V., a company of the Daldrup & Soehne Group operating in the Netherlands. The drilling depth of the production well will be about 1,800 m. The temperature of the extracted water is expected to be just below 80 Celsius, with a flow rate of about 90 litres/second. The installation of the well site in the municipality of Noordoostpolder has been completed and the drilling rig has already been fully erected. The start of the first well is therefore imminent. The project should be completed with the completion of the heating system in spring 2021.

In this project Daldrup & Söhne AG has once again successfully introduced its Alternative Risk Transfer (ART) concept. This integrated insurance model includes, among other things, an exploration risk insurance. Thus, it is possible to make such geothermal drilling and energy projects financeable with debt capital in an early project phase and to keep the equity capital requirement of the client low already in the exploration phase.

The new customer ACL is a Dutch greenhouse operator that has joined forces in this project. After the client Nature's Heat, ACL now also supplies the connected greenhouse complexes almost completely renewable from geothermal heat. The planned heating capacity is approximately 18 MWtherm.

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 70 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants.

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