Article

The Geretsried geothermal energy project in southern Germany utilizes a closed-loop system to extract heat from three miles deep underground. The first completed loop started generating electricity in December, contributing to the national grid.

The project aims to provide hot water for heating nearby Geretsried and Wolfratshausen. It has a total budget of up to 300 million euros, including a 91.6 million euro grant from the EU's Innovation Fund.

Analysts highlight the potential for geothermal energy as a low-carbon source amid rising electricity demand, especially in North America. The company plans to resume drilling in late 2026, contingent on fundraising.