EURAZEO has acquired a majority stake in SMP ENERGIES to support its strategic growth and expansion into the European geothermal drilling market.

Target Information

Founded in 1998, SMP ENERGIES is the leading French contractor for deep geothermal well drilling, distinguished by its high-level technical expertise and operational excellence. To date, the company has successfully drilled over 60 wells, leveraging its ability to offer clients a comprehensive turn-key drilling solution. This includes managing all aspects of drilling, maintenance, and well abandonment, both in France and internationally.

Industry Overview in France

The geothermal energy sector is experiencing significant growth in France, particularly in response to the accelerating energy transition. In 2023, the five key markets in Europe reported record geothermal production of nearly 8 TWh. This growth is driven by an increasing demand for renewable heat, rising energy prices, and decarbonization imperatives. Geothermal energy is recognized for its unique advantages, including continuous availability, economic competitiveness, and energy sovereignty.

Moreover, the demand for geothermal energy is expected to grow at double-digit rates by 2030, fueled by the development of urban heat networks and dedi