Finance for geothermal borehole drilling rigs from £80,000 to £400,000. A relatively small pool of UK operators means lenders often look closely at the installation pipeline behind a purchase.
Yes, geothermal drill rigs are financed as a standard asset purchase, usually on hire purchase or a lease, with the machine itself acting as the security. UK prices typically run £80,000 to £400,000, and most deals are written over 24-60 months with a deposit of around 15-25%. Decisions typically take 1–3 weeks. Used machines are financeable too, usually with a shorter term.
Typical Cost
£80k – £400k
Approval Speed
1–3 weeks
Faster for established contractors with a strong trading history
Rates From
7.0% APR
Your estimate
Indicative only. Not a quote and not an offer of finance.
Pre-filled with a typical geothermal drill rig price. Indicative only, not a quote.
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Check EligibilityOn a purchase price of £180,000: a 10% deposit of £18,000, then 48 monthly payments of £3,797 at 5.9% APR representative (fixed). Total amount payable £200,256, including the deposit. The rate you are offered depends on your business and the asset.
Guide prices for sizing a finance agreement, not quotes. Manufacturers in this market mostly price on application, so where a current UK list price could not be confirmed the row describes a specification class rather than naming a model. Your supplier quote is what the agreement is written against.
| Machine or specification | Guide price | Type |
|---|---|---|
| Compact Geothermal Borehole Drilling Rig | £80,000 - £180,000 (specification class, price not independently verified) | Compact Borehole Drilling Rig |
| Mid-Size Ground Source Drilling Rig | £150,000 - £280,000 (specification class, price not independently verified) | Mid-Size Ground Source Drilling Rig |
| Combined Water Well and Geothermal Rig | £100,000 - £220,000 (specification class, price not independently verified) | Combined Water Well and Geothermal Rig |
| Large Multi-Borehole Rig, Commercial Scale | £250,000 - £400,000 (specification class, price not independently verified) | Commercial-Scale Multi-Borehole Rig |
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Check EligibilityGeothermal drill rigs are plant and machinery and qualify for capital allowances in principle in the same way as other specialist drilling equipment. Given the relatively small number of UK operators in this category, similar to micro piling rigs, it is worth getting specific advice on your rig and its intended use rather than assuming a general treatment applies without checking.
Geothermal drill rigs are bought by ground source heat pump installers and specialist drilling contractors boring vertical or angled holes for closed-loop or open-loop heat pump systems. Demand is tied more closely to renewable heat installation volumes than to general construction activity, since this is a specialised end use rather than a general-purpose drilling application. Because the pool of UK operators is relatively small, lenders financing this equipment often look closely at the installer's pipeline of confirmed installation contracts behind a purchase, in a similar way to how micro piling and tunnelling equipment is assessed, rather than relying mainly on the machine's own resale value.
Several of our 200+ lenders specialise in businesses with imperfect credit histories. You may need a larger deposit or personal guarantee, but options exist. Checking your options here does not affect your credit score, because we do not run a credit search to match you. A lender will run their own checks only if you decide to apply.
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