Germany:

Daldrup & Söhne AG Acquires Majority Stake in Landau Power Plant (Think GeoEnergy)

The German energy and drilling company Daldrup & Söhne AG has announced it has acquired the 50 percent stake in the Landau geothermal power plant held by Pfalzwerke, a local utility.

Daldrup now holds 90 percent in the geox operating company. This is the first time that an operating geothermal plant has seen an ownership change. Through its subsidiary, Geysir Europe, Daldrup will take over the stake from Pfalzwerke on January 1, 2014. Earlier this year Geysir bought 40 percent from Energie-Suedwest, a subsidiary company of the city of Landau. The remaining 10 percent remain in the possession of Energie-Suedwest.

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