Image of Investment in the geothermal power project in Hakodate city, Hokkaido

Investment in the geothermal power project in Hakodate city, Hokkaido

Capacity : 2,350kW

Commercial Operation Start : 2023

Execution : May 31, 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.

Investment Highlights

We have been developing this project in collaboration with Renova and Sigma Power. Renova is recognized as a pioneer in Japanese renewable energy industry, having strengths in planning, development and O&M of renewable energy projects. Sigma Power, a wholly-owned subsidiary of Toshiba Energy Systems & Solutions Corporation, engages in EPC business and has significant insights in the area. The project was granted subsidy for the first time as a geothermal resource development research project by the Japan Oil, Gas and Metals National Corporation in 2015. Our participation in this project started in 2019. We are currently in the exploring phase, planning to start commercial operation in 2023.

Future Actions

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