Baseload Power signs partnership to develop geothermal energy in Taiwan

This aims to unlock the country’s largest geothermal resource.

Baseload Power Taiwan has inked a memorandum of understanding with Taiwan Power Company, Taiwan Cogeneration Corporation, and other geothermal technology companies to develop geothermal energy in the Tatun Mountain area of northern Taiwan. 

Following the signing of the agreement, a series of activities will be implemented, including the analysis of existing geological data, 3G exploration (geology, geochemistry, and geophysics), establishment of conceptual models, the determination of drilling targets, and the execution of an exploration drilling program.

After the exploration phase, the companies will assess the potential for geothermal power plants and look into implementing Advanced Geothermal Systems (AGS) based on findings.

“As Taiwan’s first international geothermal developer, we are committed to delivering 24/7 clean energy and advancing the geothermal industry,” said Magnus Brandberg, co-founder and chairman of Baseload Capital

“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,” he added.