Baseload Capital completes third Power Plant in Japan
Baseload Capital is pleased to announce that its subsidiary, Baseload Power Japan, has completed a third geothermal power plant.
Baseload Capital is pleased to announce that its subsidiary, Baseload Power Japan, has completed a third geothermal power plant.
Developed in partnership with Furusato Power generation and the Sansui hot spring inn, Sansui Geothermal Power Plant will produce 350 MWh annually, equivalent to the annual power consumption of roughly 100 households.
The electricity generated by the new plant will be sold to Kyushu Electric Power through a feed-in tariff (FIT) mechanism. The surplus of hot water will be provided to the Sansui hot spring inn to be used as bathing water for its hot spring operations.
"The Japanese government has committed to carbon neutrality by 2050 and expanding the use of renewable energy is critical to achieving that goal", said Ryuta Hiratsuka, Representative Director of Baseload Power Japan KK. "Geothermal power generation, which can be sourced and consumed locally, will become an important part of the country's energy mix."
While Japan is estimated to have the third largest geothermal resources after the United States and Indonesia, the ratio of geothermal power generation in the county stands at a mere 0.2%.
"Geothermal energy can help invigorate local areas", said Furusato Power generation Co., Ltd. CEO Kazuyuki Akaishi. "As a local company with strong roots in the region, we have a stake in building an ecosystem that promotes the increased use of renewable energy and creates more prosperous and sustainable communities."
"We are thrilled to open our third power plant here in Kumamoto", said Alexander Helling, CEO of Baseload Capital. "Japan has over 20,000 hot spring facilities, presenting us with exciting opportunities to tap into the country's abundant geothermal resources."
For more information, please contact:
Alexander Helling CEO of Baseload Capital
alexander.helling@baseloadcap.com
Pernilla Wihlborg, COO/CEO of Baseload Power
pernilla.wihlborg@baseloadcap.com
About Us
Baseload Capital is a specialized investment entity that funds the deployment of heat power worldwide. Our portfolio of companies in Iceland, Japan, Taiwan and the U.S. work with local communities and power companies to permit, build and commission heat power plants.
Heat power is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat. By applying innovative financing structures to help our local operators build and run the heat power plants, Baseload Capital can help nations quickly transition away from fossil fuels and toward energy independence. The result will lead to more resilient societies and a planet in balance.
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