Danish pension fund ATP has invested in a Danish geothermal power plant via renewables company Innargi.
The geothermal power plant that will be built in Aarhus will become the largest in the EU and provide hot water from the Earth’s interior to supply houses with renewable energy.
ATP has invested in Innargi which will build and operate the geothermal power plant that will extract energy from soil in Jutland, Denmark. The plant is expected to be fully developed in 2030 with a 110 MW capacity. ATP now owns 37 percent of Innargi.
”While the sun and winds come and go, the heat inside the Earth is always there. This makes geothermal energy stable and renewable, and it is needed if we are to succeed in the green transition. ATP is proud to enable this project, which has a huge Danish and international potential, and where there will be returns to be gained in the long run for the benefit of our members,” says Bo Foged, CEO of ATP. ”Geothermal energy holds enormous perspectives. It can be used in the heat supply instead of coal, gas, and biomass. Therefore, this investment is in line with our climate ambitions as announced in autumn 2021 in connection with COP26.”