In a release, INPEX Corporation along with partners Idemitsu Kosan Co. Ltd. and Mitsui Oil Exploration Co. Ltd. announced the start of the construction phase of the 15-MW Katatsumuri Yama geothermal power plant in Yuzawa City, Akita Prefecture, Japan. The power plant will be built halfway up the Katatsumuri Yama mountain and will be operated by Oyasu Geothermal Co. Ltd. Operations are expected to commence by March 2027.
Oyasu Geothermal is a joint venture of the three companies – INPEX Corporation (42.5%), Idemitsu Kosan (42.5%), and Mitsui Oil Exploration (15%). It was founded with an initial capital of 100 million yen.
Joint exploration and commercialization studies of the project site have been carried out by the three companies since 2011, eventually culminating to the decision to start power plant construction. The construction is supported by a loan guarantee from the Japan Oil, Gas and Metals National Corporation (JOGMEC), who also subsidized the initial investigation studies.
Power generated by the power plant will be sold under a Feed-In Tariff (FIT) system for renewable energy at a price of 40 yen + tax per 1 kWh for 15 years.
The 15 MW capacity was concluded after evaluation of data from production tests conducted over a period of three months in 2021. We had also previously reported on flow tests on the exploratory wells drilled for this project back in 2018.
Source: INPEX Corporation