Geothermal Energy - For an energy transition that leaves no one in the cold.
Geothermal energy makes use of the heat beneath the earth’s surface to provide a renewable source of heat and power. As a sustainable alternative to fossil fuels, it can help to accelerate the energy transition and reduce carbon emissions.
What is geothermal energy?
With increasing depth, the temperature increases by approximately 3°C every 100 meters. In Austria, we need to drill thousands of meters to reach underground temperatures of 100°C and more. In hydro-geothermal systems, hot formation water is pumped to the surface, where its heat is captured using heat exchangers and fed into the district heating network. The cooled water is reinjected to the reservoir where it is reheated by the surrounding rocks. When water temperatures are higher than 140°C, the energy can also be used for power generation. In innovative closed loop technology, a working fluid is circulated through a series of closed loops. This technology has a large potential for scalability.
Advantages of geothermal energy
Geothermal energy offers numerous advantages:
- It has a low carbon footprint
- It reduces dependence on energy imports and fossil fuels
- It provides a constant, secure, and nearly limitless supply of heat
- It has a low areal footprint
- It promotes regional economic growth
“We’re committed to leading the heat transition, with geothermal energy set to play a crucial role. We’re already working on projects to tap into its potential, and welcome collaborations with partners who share our vision,” says Angelika Zartl-Klik, SVP Low Carbon Business OMV Energy.
Our geothermal energy strategy
- Establish a strong position in the geothermal energy sector with a target of ~4 TWh by 2030.
- Apply existing and new technologies to unlock the geothermal energy potential.
- Decarbonize district heating networks, large infrastructure operators, and industrial plants.
- Leverage decades of expertise and experience in subsurface and drilling.
Our projects
The “deeep” joint venture: OMV and Wien Energie join forces to enable the heat transition
Vienna aims to make its entire district heating grid carbon-neutral by 2040. Our joint venture with Wien Energie, deeep Tiefengeothermie GmbH, established in 2023, unites the expertise of our two industries to deliver geothermal energy projects to help reach this goal.
Wien Energie is responsible for the surface facilities, including heat exchangers, heat pumps, and transferring heat into the district heating network, while OMV is responsible for underground activities, including drilling operations and hot water extraction.
Project Aspern: A milestone in carbon-neutral district heating
The first project of deeep Tiefengeothermie GmbH, now in its implementation phase, is a geothermal plant in Aspern, northeast Vienna. The plant will have a capacity of 20 MW in combination with heat pumps. First heat will be delivered in 2028. This capacity will be enough to supply around 20,000 households, resulting in potential CO2 savings of up to 54,000 metric tons per year. Our goal is to establish up to 7 plants with a combined capacity of 200 MW - enough to heat up to 200,000 homes.
Strategic partnership with Eavor Technologies Inc.
We’ve invested in Eavor Technologies Inc., a leading developer of closed loop geothermal solutions, acquiring a 6.5% stake. Their technology uses closed loop systems installed deep underground. A fluid circulates between the surface and a series of closed loops in the rock, absorbing the heat stored in rocks. This method makes it possible to use geothermal energy for heating systems in areas where traditional hydrothermal resources are not available, as this technology is independent of water resources at depth. We aim to deploy this technology in Germany and support Germany’s heating transition.