Investment Date: May 21, 2019
This is a midsized geothermal development project in Hakodate city, Hokkaido, which is also our first investment in geothermal power. We are going to accelerate our initiatives in geothermal fields both in Japan and overseas through the experiences and insights obtained through this project.
We have been developing this project in collaboration with Renova and Mitsubishi Materials. Renova is recognized as a pioneer in the Japanese renewable energy industry, having its strengths in planning, development and O&M of renewable energy projects. Mitsubishi Materials is a Japanese company known for its expertise in hydroelectric power and geothermal electricity generation. The geothermal resource assessment project that was carried out in the area was first granted subsidy in 2015 by Japan Oil, Gas and Metals National Corporation. Our participation in this project started in 2019.
While Japan is rich in geothermal resources, there are only a limited number of geothermal power projects, and we believe that there lies huge potential in this field. This project is a unique opportunity for us to participate in, as we aim to expand our geothermal investment both in Japan and overseas.
Posted on March 6, 2019