October 1, 2024 — One year ago, Taipower inaugurated the Renze Geothermal Power Plant in Yilan, which generates nearly 4.7 GWh of green electricity annually. Now, Taipower is partnering with Taiwan Cogeneration Corporation, international geothermal developer Baseload Power Taiwan, and geothermal technology service provider GreenFire Energy to establish a geothermal team. This collaboration aims to jointly develop the geothermal resources in the Datun Mountain region of northern Taiwan. Geothermal energy is unaffected by weather conditions, capable of providing stable power generation 24 hours a day, and has high operational efficiency. Taiwan's location in the Pacific Ring of Fire offers abundant geothermal potential; therefore, Taipower plans to continue collaborating with various sectors to accelerate the development of geothermal energy in Taiwan.
This afternoon, Taipower held the signing ceremony for the Datun Mountain Geothermal Collaboration Memorandum of Understanding (MOU). The joint signing was attended by Taipower Chairman Tseng Wen-Sheng, Taiwan Cogeneration Corporation Chairman Huang Shun-I, Baseload Capital Chairman Magnus Brandberg, representatives from GreenFire Energy, and other distinguished members of the international geothermal team.
The initial stages of geothermal development involve uncertainties in resource availability, as well as relatively high exploration costs and technical barriers. Collaboration helps split the upfront costs and introduces foreign exploration expertise and innovative technologies.
This geothermal exploration integrates the expertise and experience of renowned domestic and international companies in the geothermal and energy sectors. Baseload Power operates geothermal power plants in the United States, Japan, and Iceland and is currently conducting exploration and development in Taiwan's Hualien and Nantou counties; GreenFire Energy brings innovative Advanced Geothermal Systems (AGS) technology to the project; and Taiwan Cogeneration Corporation previously participated in the development of the Qingshui Geothermal Plant in Yilan.
Magnus Brandberg, Chairman of Baseload Capital, stated that as Taiwan's first international geothermal developer, the company is committed to providing clean, round-the-clock energy while connecting local and global strategic partners to promote the development of Taiwan's geothermal industry. This collaboration between public and private sectors aims to expand Taiwan's geothermal potential, accelerate the deployment of geothermal energy, support local energy self-sufficiency, and contribute to achieving the 2050 net-zero goal.
A Taipower representative explained that, according to estimates from the Geological Survey and Mining Management Agency of the Ministry of Economic Affairs, the geothermal potential of the Datun Volcano Group accounts for approximately 20% of Taiwan's total geothermal resources. Relatively comprehensive regional geothermal geological exploration data for the area also exists. Therefore, the Datun Mountain region has been designated as the primary focus of Phase I of this collaboration. Following today's MOU signing, the project will formally commence with analysis of existing geological data, 3G (geology, geochemistry, and geophysics) exploration, establishment of conceptual models; and identification of drilling targets. Subsequent phases will involve drilling execution and testing. The project will also prioritize the adoption of AGS technology that enables heat extraction without water extraction.
The Renze Geothermal Plant, which began operations in October of last year, has an installed capacity of 0.84 MW (megawatts) and generates approximately 4.7 GWh of renewable energy annually, equivalent to the annual electricity consumption of nearly 1,200 households. This collaboration with domestic and international geothermal experts represents the early exploration phase of geothermal development. Based on the exploration results, further assessments will be conducted for plant development and construction.The goal is to continue expanding the developmental scale and efficiency of geothermal potential, and position geothermal energy as a key strategic support for Taiwan's energy transition and progress toward net-zero carbon emissions.
Spokesperson: Vice President Tsai Chih-Meng
Phone: (02) 2366-6271; 0958-749-333
E-mail: u910707@taipower.com.tw
Contact Person: Director of Renewable Energy Department Tsai Ying-Sheng
Phone: (02) 2366-8650; 0988-980-032
E-mail: u746723@taipower.com.tw
