Lagos — Baseload Power Taiwan is excited to announce its partnership with Taiwan Power Company (Taipower), Taiwan Cogeneration Corporation (TCC), and leading geothermal technology companies to collaboratively develop geothermal energy in the Tatun Mountain area of northern Taiwan. This partnership is set to unlock Taiwan’s largest geothermal resource area, rapidly advancing geothermal energy development at scale. By harnessing the homegrown energy, we believe geothermal energy will become as a key pillar in Taiwan’s journey toward achieving its Net Zero goal by 2050.
The MOU signing ceremony on Oct. 1. Left to right: Glenn Golla, Regional Manager of GreenFire Energy, Ye Zhuang, Asia Pacific Vice President, Oilfield Services and Equipment, Baker Hughes, Magnus Brandberg, Chairman of Baseload Capital, Wen-Sheng Tseng, Chairman of Taiwan Power Company, Shun-I Huang, Chairman of Taiwan Cogeneration Corporation, Shu-Chi Shih, Chairman of Taiteck Company.
On October 1st, Taipower held a signing ceremony for the “MOU for Cooperation – Geothermal Development at Tatun Mountain,” with joint signatures from Taipower Chairman Wen-sheng Tseng, TCC Chairman Shun-I Huang, Baseload Capital Chairman Magnus Brandberg, and representatives from GreenFire Energy, alongside delegations from other international geothermal companies.
Taipower emphasized the benefit of this collaborative platform in mitigating challenges of early geothermal development, including resource uncertainty in initial stages, high exploration costs, and technological barriers. This partnership will help address these upfront costs while introducing global exploration expertise and innovative technologies.
Following the MOU signing, 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. After the exploration phase, the team will assess the potential for geothermal power plants and explore implementing Advanced Geothermal Systems (AGS) based on findings.
The Baseload Power companies develop and operate geothermal power plants in the United States, Japan, and Iceland. Our global portfolio minimizes risk, drives market expansion, and accelerates knowledge-sharing with our strong network of partners. 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.
Magnus Brandberg, Co-Founder and Chairman of Baseload Capital, stated, “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”.
