Swedish company, Climeon, has received a new order within geothermal heat power in Japan. Baseload Capital Sweden is purchasing additional modules on behalf of a newly started Heat Power operator, which will be jointly owned by a number of Japanese stakeholders and Baseload Capital Sweden. The order value amounts to SEK 19.5 million ($2.2 million), excluding service fees and software licenses.
Courtesy of Climeon
“An additional order in a short period of time in the Japanese market confirms the potential we see in Japan for geothermal heat power to replace fossil fuels,” said Thomas Öström, CEO of Climeon.
“Our products will contribute to the sustainable electricity production in Japan with good profitability and at low risk,” continued Öström.
The modules are to be delivered during 2019. Climeon is the supplier of modules, and at the same time a minority shareholder of Baseload Capital Sweden (19.9%), which was formed to finance investments in geothermal heat power.
After the accident at the Fukushima nuclear power plant in 2011, Japan's domestic energy production has decreased significantly, which is why more than 90 percent of all primary energy is imported. To accelerate the shift towards local green electricity, the Japanese government has introduced economic incentives and simplified the requirements for permits and surveys.
There are many hot springs around the country, from which geothermal heat powern can be extracted. Today, only just over 2 percent of its known geothermal energy resources are utilized.