New partnership aims to raise up to Euro 150 million to finance construction of four geothermal projects with a total of 25 MW capacity
Dubai based Greenstone Equity Partners, one of the largest independent fund placement firms in the Middle East, announced its collaboration with Deutsche ErdWärme, a Karlsruhe, Germany-based geothermal development company to raise up to Euro 150 million for the development of a portfolio of geothermal licenses in Germany. The geothermal energy market in Germany is experiencing rapid growth with attractive 20 year tariffs backed by the German Government. This provides investors with long-term high yield investment opportunities.The new partnership aims to raise up to Euro 150 million in capital to partly-finance the construction of four geothermal projects which will generate a total of approximately 25 megawatts. Gulf Cooperation Council (GCC) investors will be invited to invest in a preferred equity structure, with a 10 per cent return, at low risk, as the tariff is backed by the German government. In addition, there is no pipeline risk as the project pipeline is secured and it exceeds the target capital raise.
