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Baseload Capital completes geothermal hat-trick in Japan
4/5/2022
News
Baseload Capital subsidiary, Baseload Power Japan, has completed a third geothermal power plant in Japan.
Developed in partnership with Furusato Power generation company and the Sansui hot spring hotel, the Sansui geothermal power plant will produce 350 MWh/y, 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 hot water will be provided to the Sansui hot spring hotel to be used as bathing water.
‘The Japanese government has committed to carbon neutrality by 2050 and expanding the use of renewable energy is critical to achieving that goal’, comments Ryuta Hiratsuka, Representative Director of Baseload Power Japan. ‘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 US and Indonesia, the ratio of geothermal power generation in the county currently stands at a mere 0.2%, reports Baseload Capital.
‘Geothermal energy can help invigorate local areas,’ notes Furusato Power 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.’
Alexander Helling, CEO of Baseload Capital, notes that: ‘Japan has over 20,000 hot spring facilities, presenting us with exciting opportunities to tap into the country's abundant geothermal resources.’
Editor’s note: Baseload Capital subsequently commissioned the second phase of the Sansui geothermal power plant on 5 May, bringing the facility’s capacity to 700 MWh/y.
