ATP invests in huge, Danish geothermal heating systems

Hot water from the Earth’s interior shall supply houses with renewable energy. The geothermal power plant that will be built in Aarhus will become the largest in EU. ATP invests in the project and plays a crucial role in utilizing the planet’s fourth renewable energy in Denmark

ATP now invests in the company Innargi, which shall build and operate the geothermal power plant that will extract energy from deep inside the soil in Jutland, Denmark. This was announced at a press meeting where among others Minister for Finance Nicolai Wammen and Minister for Climate, Energy and Utilities Dan Jørgensen. Already in 2025 the geothermal power plant can supply heat to the Aarhusians, and it is expected that it will be fully developed in 2030 with 110 MW.

Heat from the Earth’s interior

”While the sun and winds come and go, the heat inside the Earth is always there. This makes geothermal energy stable and renewable, and it is needed if we are to succeed in the green transition. ATP is proud to enable this project, which has a huge Danish and international potential, and where there will be returns to be gained in the long run for the benefit of our members,” says Bo Foged, CEO of ATP, and he continues:

”Geothermal energy holds enormous perspectives. It can be used in the heat supply instead of coal, gas, and biomass. Therefore, this investment is in line with our climate ambitions as announced in autumn 2021 in connection with COP26.”

ATP now owns 37 percent of Innargi, NRGi owns 20 percent, and A.P. Møller Holding, which has founded Innargi, owns the rest.

Working together in the green transition

The energy source from the Earth’s interior is inexhaustible and can play the same role for heat as sun and wind do for electricity.

”The company has great potential. In many big cities in Europe there is hot water in the subsoil. And our business partner has many, many years of experience in drilling into the subsoil. Roughly speaking, one can say that previously A.P. Møller was skilled at drilling for oil, and now they have to drill for hot water. We are convinced that this investment will provide good returns for the members, and the importance for the green transition is obvious,” concludes Bo Foged.

In Europa buildings account for 13% of all greenhouse gas emissions. Geothermal energy can supply heat regardless of whether the sun is shining, or the wind is blowing, and therefore it can be used as basic heat, replacing coal, gas and biomass.

Stephan Ghisler-Solvang
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Stephan Ghisler-Solvang

Facts

Geothermal energy

Geothermal energy is the heat energy that comes from the Earth's interior. Two to three kilometers down in the Danish subsoil, you can find 60-80 degrees hot geothermal water. In a geothermal plant the heat is harvested from the water and transferred to the water in the district heating network in a closed circuit. The geothermal water is then pumped back into the subsoil.

Facts

The project

  • The geothermal heating plant in Aarhus will be the largest in the EU. It is sized to produce 110 MW
  • Geothermal systems are not noisy, do not smell and do not emit smoke
  • In 2030, geothermal energy can cover 20% of the district heating demand in Aarhus. This corresponds to the heat in 36,000 households
  • In Aarhus, geothermal energy can reduce annual CO2 emissions by up to 165,000 ton of CO2 (including immediate emissions and alternative use of biomass)
  • The geothermal water is fetched 1-3 kilometers down in the subsoil
  • The geothermal water in the Danish subsoil is 40-80 degrees hot
  • The plant in Aarhus can supply heat from 2025 and will be fully developed in 2030
  • A geothermal plant takes up less space than the penalty area of a soccer pitch. It can supply heat for 30 years
  • There are three smaller geothermal plants in Denmark: Sønderborg, Copenhagen and Thisted. Abroad, geothermal energy is used in Lund, Paris, Munich and the Tuscany area, among other places
  • Geothermal energy currently accounts for less than 1% of district heating in Denmark. Geothermal energy can cover 30% of the district heating demand in Denmark - this corresponds to 600,000 households.
     

Facts

The agreement between A.P. Møller Holding, ATP and NRGi

Following the capital increase, ATP owns 37% and NRGi 20% of Innargi Holding A/S. A.P. Møller Holding controls the rest.