EU approves joint venture for geothermal project

The European Commission has approved a joint venture that holds the rights for the development of a geothermal energy project in Germany. Austrian firms STRABAG and EVN have formed Geoenergie […]

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By Priyanka Shrestha

The European Commission has approved a joint venture that holds the rights for the development of a geothermal energy project in Germany.

Austrian firms STRABAG and EVN have formed Geoenergie Bayern Projekt Garching, which is planning to develop the Bruck project in Bavaria.

EVN is mainly active in exploration and production of oil and gas, distribution of power, gas and heating as well as gas storage while STRABAG woks in the construction business, especially in structural, construction and civil engineering as well as in road construction.

The joint venture aims to further develop, generate and supply electricity and district heating to third parties as well as other deep geothermal projects.

The Commission said the venture would “not raise competition concerns given that the joint venture has no, or negligible, actual or foreseen activities within the European Economic Area”.