Subterra Renewables

Subterra Renewables, a member of the STS Renewables Group, is a specialized one-stop-geothermal-shop with the goal of accelerating geothermal adoption through acquisition, development, and/​or operation of geothermal heating and cooling systems. 

overview of subterra renewables

Subterra Renewables

Subterra is the asset management and development arm of STS Renewables. 

•A vertically integrated geothermal utility provider who develops, owns, and operates geothermal heating and cooling systems across North America.

•Implements an Energy-as-a-Service (“EaaS”) model, which allows system owners and real estate developers to monetize their existing or future geothermal systems, by partnering with an experienced asset manager and operator, leveraging best practices and facilitating system improvements.

•+$400m in committed capital from experienced asset managers in complex energy and infrastructure assets, to execute on this strategy

Turnkey Site Solutions & Earth Drilling: 

Turnkey Site Solutions & Earth Drilling are the construction arm of STS Renewables. 

•Turnkey Site Solutions (Ontario) and Earth Drilling (4 locations in Western Canada) are two of the most preeminent shoring and drilling solution providers in North America, and specializes in geothermal projects. 

•Together, they own the largest geothermal drilling fleet in North America, with more than 60 units. 

•Both are key partners on most Subterra projects, as it is an affiliated company (via the STS Renewables Group).

STS Renewables Group: 

•STS is the parent company to Subterra, Turnkey Site Solutions and Earth Drilling. Its objective is to build the most compelling geothermal energy platform.


key figures 

+100m
VALUE OF SUBTERRA SYSTEMS UNDERMANAGEMENT
+400m
COMMITTED CAPITAL TO SUBTERRA
+500
PROJECTS COMPLETED BY TURNKEY & EARTH DRILLING
+25
YEARS OF DRILLING & INVESTING EXPERIENCE
+60
DRILLS IN FLEET
+$2b
VALUE OF PROJECTS DRILLED BY TURNKEY & EARTH DRILLING

Subterra acquisition structure, case study & process

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why partner with Subterra?

Experienced Asset Management Partner: diligent and transparent owner and operator, with shared institutional knowledge across greater portfolio.

Cash in Hand: monetization of system provides liquidity.

Strategically Aligned Partner: aligned for optimized operations and system longevity.

Fixed Term: asset returned without tail payment &
in good condition.

Price Certainty: reduce ongoing cost variability, via operations & maintenance responsibilities transfer.

Performance Optimization: benefit from prudent system operations, real-time monitoring, regular performance and cost-saving analysis, reporting and forecasting

ESG Reporting and Planning: transparency and tracking for ongoing carbon-based goals.

Vertically Integrated: We understand ownership, operation, design and installation.

Transfer and Mitigation of Risk: insulate from planned and unplanned capital/​maintenance costs

what Subterra looks for?

Subterra is actively looking to: 

Acquire existing geothermal heating and cooling systems: for owners of existing systems, Subterra helps maximize lifetime value of your asset as an invested partner, unlock capital for other capital projects, and transfer operating risk of a non-core asset; and,

Develop greenfield systems: for all building owners (be it institutional, residential, commercial or government), Subterra’s solution reduces upfront capital costs, improves building efficiency, remove operating risk, and helps owners meet green house gas reduction targets.


Typical System Metrics

•Type: vertical loop, horizontal loop, free exchange

•Buildings with: >100k sq ft ( e.g. airports, universities, hotels, hospitals, condos, commercial, industrial, etc

Size and initial cost: >$500k and/​or 20k ft drilled

Strong counterparty quality

History of good operating performance

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