Baseload Power Taiwan and CPC Corporation, Taiwan sign MOU to advance geothermal development
Baseload Power Taiwan and CPC Corporation, Taiwan (CPC), the state-owned energy company, have signed a Memorandum of Understanding (MOU) to accelerate geothermal development in Taiwan. By combining CPC’s local expertise and resources with Baseload’s international geothermal experience, the parties will explore opportunities to develop geothermal projects across Taiwan, beginning with the Tuchang geothermal project in Yilan County.
Under the MOU, the parties will cooperate on resource evaluation, technical collaboration, due diligence, feasibility studies, and commercial discussions related to geothermal development. The agreement also includes exploring future joint investment structures that could support the growth of geothermal projects across Taiwan.
Taiwan possesses significant geothermal potential and has identified geothermal energy as an important component of its energy transition. By bringing together local and international expertise, the collaboration aims to support the development of reliable, domestically produced renewable energy while contributing to Taiwan’s long-term energy security and decarbonization goals.
Baseload Power Taiwan has been active in Taiwan since 2019 and is currently advancing geothermal projects in several regions across the country. As part of the Baseload group, the company leverages experience from geothermal development and operations in multiple markets, including Japan, Iceland, and the United States.
Alexander Helling, CEO of Baseload Capital, said:
“Taiwan has some of the strongest geothermal potential in Asia and a clear ambition to expand renewable energy. Through this collaboration with CPC, we are bringing together complementary expertise to help unlock that potential. We see this as an important step not only for the Tuchang project, but for the long-term growth of Taiwan’s geothermal sector.”
The MOU serves as a framework for further evaluation and collaboration and reflects the shared ambition of both parties to explore scalable pathways for geothermal development in Taiwan.
For more information, please contact:
Kristina Hagström-Ilievska CMO, Baseload Capital
kristina.hagstrom.ilievska@baseloadcap.com
Tel: +46 (0) 732330039
About Baseload
We lead partnerships to scale up geothermal energy: a 24/7 available source of clean power and heat. Our global portfolio de-risks investments, expands the market and accelerates lessons learned in collaboration with strong owners and partners.
Our parent company Baseload Capital invests in geothermal projects worldwide. Our subsidiaries, the Baseload Power companies, build, commission and operate geothermal heat and power plants funded by Baseload Capital.
