Japan’s government to support drilling for private-sector geothermal development
The government of Japan will be launching a scheme that sees Jogmec to cover part of early drilling activities for private-sector geothermal developers.
News from Japan report that the government of the country has taken steps to “lower the barrier for private-sector investment” in geothermal development.
Pushing for a greater role for the government in developing Japan’s geothermal resources, resources agency Jogmec will conduct test drilling in the early phases of geothermal development on behalf of potential developers. The scheme is to start in April 2020.
Drilling in Japan faces strong regulatory burden, and while subsidies cover part of the cost, the private sector has sought greater government support, as reported by Nikkei.
The government is also considering the shortening of currently lengthy environmental assessments for geothermal development.
Japan Oil, Gas and Metals National Corp. (Jogmec) is said to support developers under the scheme for about six years.
The official Japanese announcement can be found in a link in this LinkedIn post.