Secured £13.7 million in funding for the United Downs Deep Geothermal Power Project, the UK's first geothermal power plant.

Financing Geothermal closed UK Feb 1, 2020

GBP13.7M

Deal Value

3 MW

Capacity

United Downs Deep Geothermal Power Project

Project

United Downs Deep Geothermal Power Project secured £

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Counterparts (2)

Investor

European Regional Development Fund

Developer

Geothermal Engineering Limited (GEL)

Geothermal Engineering Limited (GEL) is a UK-based renewable energy developer specializing in deep geothermal power projects. The company focuses on developing and operating geothermal power plants, with its flagship United Downs Deep Geothermal Power Project in Cornwall, UK, aiming to demonstrate the commercial viability of geothermal energy in the region.

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Timeline

Announced

Feb 1, 2020

Signed

Closed

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Source

www.renewableenergymagazine.com

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