Baseload Capital, through its subsidiary Baseload Power Japan, announced it completed its third geothermal power plant in Japan which will produce 350 megawatt-hour annually. This is equivalent to the annual power consumption of roughly 100 households in Japan.

“The Japanese government has committed to carbon neutrality by 2050 and expanding the use of renewable energy is critical to achieving that goal,” Ryuta Hiratsuka, Representative Director of Baseload Power Japan KK, said. “Geothermal power generation, which can be sourced and consumed locally, will become an important part of the country's energy mix.”

It was noted that the electricity generated by the Sansui Geothermal Power Plant will be sold to Kyushu Electric Power through a feed-in tariff mechanism.

Japan is currently projected to have the third-largest geothermal resource, next to the United States and Indonesia. But whilst this is the case, the ratio of geothermal power generation in the country remains low at only 0.2%.

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