International team assembled to develop geothermal in Tatun Mountains, Taiwan

Source:ThinkGeoEnergy – Geothermal Energy News
Original URL:https://www.thinkgeoenergy.com/international-team-assembled-to-develop-geothermal-in-tatun-mountains-taiwan/

The Taiwan Power Company (Taipower) and Taiwan Cogeneration Corporation (TCC) has signed a partnership with Baseload Power Taiwan, GreenFire Energy, and other international partners for joint geothermal development in the Tatun Mountain area of northern Taiwan.

The signing ceremony for the “Letter of Intent for Datun Mountain Geothermal Cooperation” was held on the 1st of October 2024. In attendance were Taipower Chairman Wen-sheng Tseng, Taipower Chairman  Shun-I Huang, Baseload Capital Chairman Magnus Brandberg, GreenFire Energy Company representatives, and other distinguished guests from the international geothermal team.

Taipower pointed out that geothermal development needs to bear the risk of resource uncertainty in the early stage, and exploration costs and technical thresholds are relatively high. Cooperation can help share early costs and introduce foreign exploration experience and innovative technologies.

Taipower also emphasized that this geothermal team integrates the expertise and experience of well-known manufacturers in the geothermal and energy fields locally and abroad. For example, Baseload Power companies have operating geothermal power plants in the United States, Japan, and Iceland. Baseload Power Taiwan has been active in Taiwan’s geothermal sector since 2019 and is currently conducting exploration and development in other promising areas such as Hualien and Nantou.

GreenFire Energy has forward-looking advanced geothermal systems (AGS) innovative technology, and Taiwan Steam Electricity also participated in the construction of Qingshui Geothermal in Yilan.

“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,” said Magnus Brandberg, Co-Founder and Chairman of Baseload Capital.

Tapping into 20% of the Taiwan’s geothermal potential

According to the Geological Survey and Mining Management Center of the Ministry of Economic Affairs, the Tatun Volcano Group accounts for approximately 20% of Taiwan’s total geothermal potential. The site has also accumulated relatively complete regional geothermal geological exploration data. These reasons were instrumental in the choice of the Tatun region for this cooperation.

With the MOU now signed, a series of initiatives will commence, 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. Priority will be given to the introduction of advanced geothermal power generation systems (AGS) that “takes heat but not water”.

In October 2024, Taipower started the commercial operations of the 840-kW Renze geothermal power plant in Yilan County. The facility is now generating approximately 4.7 million kWh of renewable power annually, equivalent to the electricity consumption of nearly 1,200 households.

Source: Ministry of Economic Affairs and Baseload Capital