€130 Million of New Funding to Propel Eavor-Loop™ Power Plant at Geretsried
The European Investment Bank (EIB) has recently granted €45 million in financial support for Eavor’s commercial project in Geretsried, marking a significant step towards establishing a “holy grail” geothermal energy source in Europe. This new investment, backed by the InvestEU program, follows the awarding of a €91.6 million grant to Eavor by the EU Innovation Fund (EIF). Joining the EIB in financing this venture are key entities such as the Japan Bank for International Cooperation (JBIC), ING Bank N.V. (ING), and Mizuho Bank, Ltd. (Mizuho), with security management overseen by the Japanese export credit agency Nippon Export and Investment Insurance (NEXI). Compliant with the green loan principles of the Loan Market Association, the funding package amounts to €130 million, with advisory services provided by Green Giraffe Advisory in structuring the financing arrangement.
