Foresight Energy Infrastructure Partners’ (FEIP) recent investment in 85 Degrees Renewables marks a significant step forward in the geothermal sector in Europe. This decision fully funds the construction of 61.8MW of geothermal heating capacity, highlighting the growing role of geothermal energy in the energy transition.
The Green Revolution in the Netherlands
Geothermal energy, often overshadowed by solar and wind power, is proving to be the cleanest of all renewable energies. Unlike its counterparts, it produces no greenhouse gas emissions and offers a constant, reliable source of energy. While wind and solar technologies have evolved rapidly, geothermal energy promises similar technological advances, positioning it as a future solution for renewable energy.
FEIP and 85 Degrees Renewables: A Strategic Partnership
The 850 million euro FEIP fund targets investments in renewable energies, energy storage and grid infrastructure. This investment confirms 85 Degrees Renewables’ position as a key player in the transition to geothermal energy, supporting the Netherlands’ objectives to decarbonize its heat consumption.
The Impact of Geothermal Energy on Energy Transition
The statements from Nick Thain, Investment Director at 85 Degrees Renewables, and Charlie Wright, Investment Director at Foresight, underline the mutual trust and commitment to renewable targets in the Netherlands. This collaboration is designed to strengthen the Netherlands’ position as a leader in the geothermal sector in Europe.
Bart Duijndam, CEO of 85 Degrees Renewables, emphasizes the importance of this initiative for the decarbonization of heating in the Netherlands. By replacing gas with geothermal, it also frees up electrical capacity on the national grid, aligning investment with the country’s commitment to energy transition.
FEIP’s major investment in 85 Degrees Renewables represents an important milestone for the adoption of geothermal energy in Europe, particularly in the Netherlands. This initiative underlines the growing commitment to cleaner, more sustainable energy sources, positioning geothermal energy as an essential pillar of the energy transition.
