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Japanese firm orders four small-scale geothermal power units by Climeon

Climeon solution (video screenshot)
Alexander Richter 16 Jul 2018

Sweden-based Climeon has received an order for four heat power units for a new geothermal heat power operator to be partly owned by financing firm Baseload Capital Sweden and several Japanese shareholders.

Earlier this month, Swedish technology supplier reports having received an order for four heat power modules of the company. The modules will be purchased by Baseload Capital Sweden on behalf of a newly started Heat Power operator in the country. The order has a value of around EUR 2 million (around $2.3 million), plus service fees and software licenses.

Baseload Capital is partly owned by Climeon (20%) and was set up to finance investment into geothermal heat power projects around the world. The Japanese heat power operator will be jointly owned by several stakeholders from Japan and Baseload Capital Sweden, with Climeon as supplier.

“The energy situation in Japan represents a unique possibility for Climeon and we are incredibly pleased with this first step into the Japanese geothermal heat power market,” said Thomas Öström, CEO of Climeon.

“Our technology is a perfect fit, the availability of hot water is great, and the electricity prices are high. This enables us to contribute to increasing the sustainable electricity production with good profitability and at low risk,” continued Öström.

The modules are to be delivered during 2019 and are expected to be put into operation the same year.

With its active volcanic areas, Japan is among the countries with the largest geothermal potential, while lagging behind in development with only about 2% of its resources being utilised. The focus of recent years has been in small-scale development, as we have reported before.

Source: Renewable Energy Magazine