GTML, together with Dråpe Entreprenør AS, has entered into an agreement with Furuset Boligsameie to invest in a new geothermal heating system which will give the 209 apartment owners in the condominium large energy savings.

The solution has been jointly developed by GTML and Dråpe, and the companies undertake the investment costs in return for the cooperative undertaking a long-term agreement to purchase the energy. The facility is expected deliver heat during the first half of 2024. The geothermal heating system will consist of 49 energy wells of approx. 300 m distributed over seven energy centrals, one for each block. This new modern geothermal solution will reduce energy consumption for heating and hot water by almost 40 %. In addition, approx. 2/3 of the remaining energy consumption is produced from the geothermal wells. As a result, the consumption of electricity is reduced by almost 80 %.

Geothermal energy is a local, renewable and conflict-free energy source that has a minimal footprint and is barely visible after the plant is installed. The plants can deliver stable energy for more than 20 years.