News

Climeon secures additional order for small-scale geothermal unit in Japan

Umi Jigoku, one of the Hells of Beppu, Kyushu Island, Japan (source: Mkill, CC BY 2.5)
Alexander Richter 8 Sep 2018

Swedish heat power technology supplier Climeon has secured an additional order for the provision of small-scale power generation units for a geothermal project in Japan.

In a release yesterday, Swedish Climeon announces having received a new order within geothermal heat power in Japan. Baseload Capital Sweden is purchasing additional Heat Power modules on the behalf of a newly started Heat Power operator. The order value amounts to SEK 19.5 million (approx. $2.1 million, excluding service fees and software licenses.

In July 2018, Baseload Capital Sweden placed an order for Heat Power modules worth SEK 19.5 million. Baseload Capital has now placed an additional order amounting to SEK 19.5 million. All Heat Power modules have been purchased on the behalf of a local Heat Power operator, which will be jointly owned by a number of Japanese stakeholders and Baseload Capital Sweden.

“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. Our products will contribute to the sustainable electricity production in Japan with good profitability and at low risk”, said Thomas Öström, CEO of Climeon.

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.

Geothermal developers and in particular small-scale development profit from a favourable feed-in-tariff system set up for geothermal power generation.

Source: Company release by email