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cooperation with the two Norwegian municipal energy

utilities Eidsiva Energi and Gudbrandsdal Energi, we will

construct 31 wind energy converters, with a total capacity

of 112 megawatts, some 200 kilometres northeast of Oslo,

with completion slated for early 2019. Our stake of 60% in

this park will correspond to the requirements of approxi-

mately 84,000 Munich households.

Services along the value chain

In addition to the construction of new wind parks in

Germany and Scandinavia, our focus is mainly on develop-

ing our own operating capabities along the entire value

chain. In this new orientation, we also see a new role for

ourselves – a transition from strategic investor to active

operator, providing services along the entire value chain.

In photovoltaics, we intend to seize opportunities that

present themselves: If economically attractive opportunities

for the development, operation and marketing of ground-installed photovoltaics systems arise in Bavaria, we will

pursue them. In addition, our new M-Solar Plus system

allows homeowners to generate their own solar electricity

at low cost, thereby realizing their own personal energy

turnaround right on their own roofs. In these projects, we

handle all technological and administrative processes in

cooperation with regional partners that are specially

trained installation engineers.

Holistic energy turnaround: 100% green heating

The heating market is also of great significance for the

energy turnaround. Here, our vision is to turn Munich into

Germany’s first city to generate its district heating entirely

from renewable energies by 2040. We continue to stick to

this goal, too. The key contribution to green heating will be

made by geothermal energy. After all, a virtually inexhaust­

ible and emission-free energy source is literally underfoot

– deep in the ground – in Munich in the form of hot-water

accumulations – virtually a gift from nature.

Since autumn 2016, the Freiham geothermal plant has

covered the base load for heating requirements of the new

Freiham district that is being constructed there and neigh-

bouring districts in the western part of Munich. From 2018

onwards, a further geothermal plant will be built on the site

of the “Heizkraftwerk Süd” power station, which is slated

to commence operation as early as in late 2019. Our plans

provide for the construction of three further geothermal

plants by 2025. Since November 2015, we have therefore

analysed the ground under the City of Munich in a large-

scale seismic measuring campaign to identify the most

suitable locations. In the future, our activities in the area of

geothermal energy will increasingly include projects outside

Munich. In addition, we acquired two already operating

geothermal plants in Dürrnhaar and Kirchstockach, both

located south of Munich, in the year under review, which

generate green electricity for more than 32,000 house-

holds.

We continue to see great potential in the expansion of our

district cooling business. Our goal is to systematically ex-

pand our generation capacities in Munich’s downtown area

in particular. District cooling facilitates environmentally

benign air-conditioning of buildings. In downtown Munich,

cold water is transported in insulated and closed cooling

pipes to customers’ sites, where it takes up heat from the

building’s air-conditioning. The integration of the under-

ground Stadtbach stream as a natural cold source makes

cold-water generation especially eco-friendly.

Our strategy in the area of conventional energy generation

provides for modernisation of our existing combined heat

and power (CHP) plants making the best possible use of

government grants. This will allow us to provide the gas-

based generation capacities that will be required into the

2030s in an economically sound manner. Furthermore, we

SWM WILL DEVELOP AND OPERATE PHOTOVOLTAIC PLANTS TO THE

EXTENT TO WHICH THIS IS ECONOMICALLY VIABLE.

YET ANOTHER AWARD FOR SWM‘S

COMMITMENT TO THE ENERGY

TURNAROUND

For the successful implementation of our renewable energies

expansion campaign, we received the renowned Energy

Award in the „Utilities & Municipal Providers“ category in

October 2016. The Energy Awards are bestowed on outstan-

ding projects undertaken within the context of the energy

turnaround. The initiators are the Handelsblatt business

newspaper and General Electric. A jury made up of prominent

representatives from the energy industry, the media and

politics gathered in Berlin to assign awards in a total of five

categories.

ANNUAL REPORT 2016  STADTWERKE MÜNCHEN

7

Our Strategy