Donata Riedel
- European Investment Bank
- Communication Department
- Lennéstraße 11
- D-10785 Berlin
- Germany
The European Investment Bank (EIB) Group — consisting of the European Investment Bank and the European Investment Fund (EIF) — and Deutsche Bank have signed an agreement to promote climate-friendly new buildings and energy-efficient home modernisation in Germany. The aim is to support private individuals in Germany by granting them low-interest loans when building new, climate-friendly houses or when modernising their houses to make them more climate-friendly with a focus on energy efficiency.
The European Investment Bank (EIB) is providing a loan of close to €45 million for an innovative geothermal heating project Eavor-LoopTM in the German state of Bavaria. Canada-based Eavor will implement its closed loop geothermal technology for the first time at commercial scale in the Bavarian town of Geretsried. In contrast to conventional geothermal heating, the Eavor-LoopTM technology does not capture heat from subsurface water or steam reservoirs. Instead, the company drills deeply into the earth and harvests the heat directly from underground rocks.
The European Investment Bank (EIB) is lending €400 million to municipal energy supplier Thüringer Energie AG (TEAG) to upgrade and digitise the electricity grid in Thuringia. The co-financed EIB project totalling around €600 million will upgrade and expand the grid in rural areas to meet the needs of the energy transition.