As already stated, UDG energy production has not yet been broadly implemented. In addition to our Proof of Concept in Prenzlau, Germany, we are now fully authorized to construct a 30MWe UDG power plant in Szczecin, in north-western Poland. Concrete interest in building UDG power plants has also been shown by a number of other countries worldwide.
Construction on our first Polish UDG (pilot) project may begin as soon as we have secured full financing for the entire construction costs of the 30MW UDG power plant. We are currently only missing a small percentage of the total CAPEX, which we hope to close on shortly, following conversations with the Polish government, a number of venture capital firms as well as financial institutions.
Brief description of Polish UDG pilot project:
- Nowe Czarnowo, Szczecin, Poland, on the premises of an existing coal power plant;
- On location, the geothermal temperature gradient of 350°C is available at a dept of between 8,000 and 9,000 meters;
- The current licenses cover production of up to 800MWe;
- Easy access to the existing 400 kV power grid;
- Strategic location close to the German border, where prices for green electricity are higher than in Poland. Also, the city of Stettin wishes to connect to our green energy for district heating purposes;
- Proximity of maritime ports facilitates the efficient transport of heavy equipment, materials and drilling rigs from the United States.
Chart temperature gradiënt Szczecin, Poland
Chart connection electrical grid Szczecin, Poland
Overview total construction costs 30MWe UDG (budget 2022)
|Total construction costs turn-key||Available on request|
Overview project income (budget 2022 for 30MW):
|PPA electricity price||€ 0,132 per kWh|
|Average electricity production p.d.||720,000 kWh (=720 MWh)|
|Average electricity production p.a.||262,800,000 kWh (= 262.800 MWh)|
|Average annual gross turnover electricity||€ 34.690.000 p.a.|
|Average value CO2 emission rights||Not included yet – see below|
|Net annual profit before taxation|
and until year 4 available for debt repayment
|Available on request|
|ROI total construction costs||Economically viable|
Estimate CO2 emission rights 30MW Polen (2022).
|1 MWh Polish braun coal powerstation is ca. 800 kg (0,8 ton)CO2 emission||30 MWph = ( 262,800 kWh x 0,8 ton) =|
210,000 emission certificates p.a.
|Value per CO2 certificate is ca. € 44,00||210,000 x € 44 = € 9.240.000 p.a.|
|Value per Certificate Guarantee of Origin is ca. € 7||210,000 x € 7 = € 1,470,000 p.a.|