Galgenen SZ – Energie Ausserschwyz has completed a capital increase of 25.5 million for the expansion of its district heating network in the districts of March and Höfe. The first goal is an accelerated line extension in the direction of Pfäffikon SZ.
Energie Ausserschwyz has announced in a media release the result of a capital increase of 25.5 million Swiss francs completed at the end of September for the expansion of the district heating network. The financial backers are the main shareholder EW Höfe AG and the 100-member energy cooperative Ausserschwyz.
With the new funding, the energy provider is initially aiming to accelerate expansion in the direction of Pfäffikon, it says. District heating pipelines are to be laid to the Ausserschwyz Cantonal School in Pfäffikon and to the centers of Lachen and Altendorf. Further expansion plans for the existing district heating network relate to additional areas at the utility’s headquarters in Galgenen.
On the initiative of Energie Ausserschwyz, a district heating network has been under construction in the districts of March and Höfe since 2021. From the energy center, properties in Galgenen, Siebnen, Lachen, Altendorf and Pfäffikon will receive their heat from renewable sources such as wood chips and biomass. District heating infrastructure worth 20 million francs was installed in 2023. Further expansion plans envisage total investments of 15 million Swiss francs for 2024.
With the capital increase, Energie Ausserschwyz is also reacting to the inflation in construction costs, interest rates and raw material prices, according to the company. “The business model of district heating entails that considerable upfront investments must first be made in network expansion before heat can flow and be sold. The higher the inflation, the more cost-intensive these upfront investments are.” ce/heg
