OMV and Energie Steiermark form partnership to develop deep geothermal energy project Tiefenkraft in Styria, Austria

Type: Partnership · Technology: Geothermal · Country: Austria · Capacity: 670 GWh · Announced: 2026-07-03

OMV and Energie Steiermark established a joint venture to develop the Tiefenkraft deep geothermal energy project in Styria, Austria, aiming to deliver up to 670 GWh of geothermal energy annually by 2037. OMV holds a 75% stake in the joint development company while Energie Steiermark holds 25%, with the latter responsible for constructing and operating a 20-km water pipeline to integrate geothermal heat into Graz's district heating network. The project includes plans for an exploration well, Petersdorf 2, with drilling expected to begin in Q4 2026, followed by testing and potential development of a geothermal doublet and aquifer thermal energy storage system. Energie Steiermark described this as the largest single investment in its history, combining OMV's subsurface expertise with its own infrastructure capabilities. First heat delivery could begin as early as 2030, pending successful testing and permitting.

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