Baseload Power Taiwan has announced a partnership with Taiwan Power Company (Taipower), Taiwan Cogeneration Corporation (TCC), and other international partners to develop geothermal energy in the Tatun Mountain area of northern Taiwan.
The collaborative partnership will unlock the country’s largest geothermal energy reserve in order to rapidly advance geothermal development at scale. By harnessing this energy, it is believed that geothermal power will become a key pillar in Taiwan’s journey towards hitting its Net Zero goal by 2050.
On 1 October, 2024, Taipower held a signing ceremony for the ‘MOU for Cooperation – Geothermal Development at Tatun Mountain’ with joint signatures from Taipower Chairman Wen-sheng Tseng, TTC Chairman Shun-I Huang, Baseload Capital Chairman Magnus Brandberg, and representatives from GreenFire Energy and other international geothermal companies.
Magnus Brandberg, Co-Founder and Chairman of Baseload Capital, said, “As Taiwan’s first international geothermal developer, we are committed to delivering 24/7 clean energy and advancing the geothermal industry. By leveraging public-private collaboration, we aim to unlock Taiwan’s geothermal potential, contribute to its energy independence, and support the 2050 Net-Zero goal.”
Following the signing, a series of initiatives will take place including the analysis of existing geological data; geology, geochemistry and geophysics exploration; establishment of conceptual modules; determining drilling targets; and the execution of an exploration drilling programme.
Once the exploration phase is complete, assessments will begin for the potential of geothermal power plants and the possible implementation of Advanced Geothermal Systems.
