The investment is FEIP’s fifth investment and brings a third technology to its portfolio, providing diversification to its existing wind and energy-from-waste assets. Supported by a local management team, the company has vast experience in the Netherlands and has been involved in a large proportion of the Dutch geothermal projects developed to date. The investment will also make a material social and economic contribution to local areas by supplying price-competitive heat to farmers and residents within the vicinity of assets.įounded by Bart Duijndam, Greg Thain and Maarten Bruggink, 85 Degrees has considerable expertise in geothermal development and the wider drilling and pipeline sector. Studies of geothermal heat provision have demonstrated that geothermal heat can achieve carbon savings in excess of 90% by displacing the need for fossil fuel usage. Geothermal heat energy is supported by the Dutch government as a strategic priority, given it will contribute to the country’s national emission reduction objectives by decarbonising domestic and industrial heat. There is also a significant pipeline of development projects representing a potential build out capacity of c. Located in the Netherlands, the joint venture investment entails both the acquisition of operational wells and construction of new wells. Foresight Energy Infrastructure Partners (“FEIP”), Foresight’s energy transition fund, has invested in a joint venture with 85 Degrees Renewable Ltd (“85 Degrees”). London, 25 October 2021: Foresight Group Holdings Limited, the listed infrastructure and private equity investment manager, is delighted to announce a joint venture investment into geothermal energy in the Netherlands. Portfolio consists of operational, construction-ready and development-stage projects in the Netherlands and other European marketsĬlick here to view the announcement as a PDF.A joint venture with 85 Degrees Renewable Ltd targeting up to 200MW of new geothermal heat capacity in the Netherlands.Foresight Energy Infrastructure Partners completes its fifth investment, adding a third technology to the portfolio.
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