March 28 (Renewables Now) - Singaporean energy firm Twenty20 Energy has unveiled the acquisition of Petra Energy Holding Sarl which owns a geothermal project in southern Germany.
Traunstein Geothermal Energy Project, located in the Traunstein district of Bavaria, is expected to have an estimated capacity of 20 MWt of heating and 13MWe of power generation. The plant will produce both district heating and electricity to meet local demand, a press release said on Monday.
A wholly owned subsidiary of Petra Energy, which will be rebranded as Bayern Renewables GmbH, will complete the development of the facility. Twenty20 Energy’s plan is to expand the project by adding headquarters to house engineers, project managers and other professionals as well as to serve as a base for expansion into other parts of the country and Europe.
Twenty20 Energy is an energy provider offering a broad portfolio of services, including engineering, project execution, asset management solutions, funding and shared ownership.
The firm's portfolio of projects includes, among others, the 45-MW Dirio Central Province Power Station in Caution Bay, Papua New Guinea, which is constructed and operated by the company. The energy firm is also working on a floating power island project that will deliver an integrated liquid natural gas (LNG) logistics and power generation solution in Papua New Guinea.