The investment marks a significant step in expanding the company’s Dutch geothermal capacity in Zoetermeer,
FEIP, an €850mn fund, specialises in investing in clean energy assets across renewables, storage and grid infrastructure. It aims to build a diversified portfolio of high-quality energy infrastructure assets, contributing to the energy transition by investing in renewable energy generation and critical infrastructure to enable the integration of further renewables into the grid.
Foresight manages over 400 infrastructure assets, with a focus on solar and onshore wind assets, bioenergy and waste, renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages eleven regionally focused investment funds across the
85 Degrees Renewables is an Anglo-Dutch company dedicated to advancing geothermal energy. It leverages advanced technologies and industry expertise to establish geothermal energy as a reliable source of clean energy for a sustainable future. Geothermal energy is clean, safe and reliable, providing consistent power and heat without greenhouse gas (GHG) emissions. With low carbon intensity and very long asset lifetimes, geothermal energy is a sustainable choice for meeting energy needs.
"We are pleased to partner with Foresight and FEIP for this substantial investment. Securing the funding for the construction of 62 MW of geothermal heat capacity underscores the potential of our company and reflects our shared commitment towards achieving the renewable energy goals of
Geothermal energy plays a vital role in achieving a sustainable and low-carbon future, offering clean, reliable power and heat without GHG emissions. FEIP's investment in 85 Degrees Renewables represents one of the most significant recent geothermal investments in
85 Degrees Renewables has ambitious plans to develop 1 GW of geothermal energy, says Bart Duijndam, chief executive officer of 85 Degrees Renewables.
"This investment represents a significant milestone in the Netherlands’ objective to decarbonise heat supply via the adoption of geothermal energy and contribute to a sustainable future for our country. By leveraging geothermal energy as a clean, safe and reliable energy source, we aim to make a meaningful contribution to a sustainable and carbon-neutral future. Moreover, as geothermal energy replaces gas for heating in
The investment by FEIP will enable 85 Degrees Renewables to scale its operations and accelerate the deployment of geothermal energy infrastructure in
©2023 bne IntelliNews
, source