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."
