Eleven geothermal power stations in the Molasse region of Bavaria, each to have about 5-MW capacity, are planned by Suddeutsche Geothermie-Projekte (SGP). The new geothermal project company was recently founded by constructor Hochtief with 40%, renewables developer Renerco (30%) and SachsenFonds (30%). Sachsenfonds is a financial services company, and part of the Sachsen LandesBank group.rnSGP intends to offer two projects to the market each year. The projects are attractive thanks to Germany's renewable energy law, which sets out premium payment rates for electricity generated in geothermal plants for a 20 year period.rnHochtief Construction is responsible for the geothermal drillings, up to a depth of 5 kilometers, and will build and operate the power stations if the future investor wishes. Later, Hochtief plans to use its geothermal know-how in projects abroad.rnDrilling for the first SGP project began at Durrnhaar last September. This ought to be completed and availability of geothermal energy demonstrated by July 2008. The power station should be operating by the end of 2009, says Hochtief.
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