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Penrose advises Kyotherm on geothermal energy investment

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Penrose advises Kyotherm on geothermal energy investment

With a new investment in the Netherlands, Kyotherm steps forward as European finance specialist of deep geothermal energy infrastructure.

On 8 November 2019, French investment company Kyotherm SAS closed an Investment Agreement under which Kyotherm will provide financing to Perpetuum Energy Partners from 2019 to 2025. Perpetuum Energy Partners B.V. is a Dutch company that is active in the development of the deep geothermal energy sector in the Netherlands since 2013.

Perpetuum Energy Partners

Perpetuum Energy Partners is in the process of finalizing its first geothermal project Haagse Aardwarmte Leyweg with several partners. The doublet will be commissioned in 2020 and when fully operational it will provide approximately 20 GWh/year of heat to the Southwest The Hague heat network through a long-term heat offtake agreement with Eneco. In the meantime, Perpetuum Energy Partners is in the process of developing several other geothermal wells in the greater The Hague area.

Kyotherm

Paris based Kyotherm provides third-party finance for renewable heat production and energy efficiency projects. As a result, Kyotherm provides significant value-add in the contractual, industrial and financial arrangements. The teams at Kyotherm are experts in different aspects of renewable heat projects, whether it be the development, construction or operational management during the operation phase.

Penrose

Hans Klaver of the M&A team of Penrose Attorneys in Amsterdam has provided legal advice to Kyotherm on this investment transaction in deep geothermal energy in the Netherlands.