14th Nov 2025 12:25
(Alliance News) - Cindrigo Holdings Ltd on Friday said it received formal approval for a year-long extension of its Worms exploration licence in Germany.
The Guernsey, Channel Island-based renewable energy developer and producer said the extension is for a geothermal project area situated in the Upper Rhine valley in Germany, known as Worms.
The Mainz Mining Authority extended the licence until November 28, 2026.
As part of the extension, Cindrigo said it must complete sub-surface studies in compliance with obligations under its exploration plan to reach ready-to-drill status, as well as submit a preliminary environmental impact assessment.
The Worms license is one of three licences in the Upper Rhine valley, alongside Eich and Weinheim, which the the company holds an 85% interest in.
Cindrigo said that the Eich licence extension has already been approved, while the Weinheim licence application is "progressing well".
Chief Executive Lars Guldstrand said: "Securing the extension at Worms is another important milestone for us in Germany. The area has strong geological characteristics, sits within a proven geothermal corridor, and benefits from one of the most supportive policy environments in Europe.
"We now have regulatory clarity in respect of two of our three current projects in Germany, and we are progressing well towards renewal of the Weinheim licence. Together, these three licence areas form a meaningful development zone where we can move forward with environmental and permitting work, finalise engineering design, and prepare for the drilling phase of the projects."
Shares in Cindrigo fell 4.4% to 14.58 pence on Friday afternoon in London.
By Roya Shahidi, Alliance News reporter
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