GreenFire Energy engages firm for representation in Taiwan

GreenFire Energy engages firm for representation in Taiwan Mountain view over Taipei, Taiwan (source: flickr/ Connie Ma, creative commons)
Alexander Richter 9 Aug 2022

GreenFire Energy has signed a representation agreement with local engineering group Taiteck for representation of the company in Taiwan.

In a release shared with ThinkGeoEnergy today, GreenFire Energy Inc. announced that it has entered a representation agreement with Taiteck Co., Ltd of Taiwan. Under this agreement Taiteck will secure and service business in Taiwan on behalf of GreenFire Energy. Established in 1982, Taiteck is experienced in providing energy engineering services including oil and gas engineering, power system, project management, and consultation in Taiwan. Taiteck’s technical engineers have more than 25 years of professional experience in power construction management, LNG, onshore and offshore drilling, geothermal drilling, and offshore engineering supervision.

The need for geothermal power development in Taiwan is becoming imperative; as a large island, the country must meet 100% of its electricity demand locally. Fortunately, Taiwan is located along the Ring of Fire and is rich with geothermal resources. A recent study concluded that Taiwan has sufficient geothermal potential to generate an estimated 31.8 GW of electricity, which is equivalent to the country’s current total baseload power consumption. Geothermal resources are also widely dispersed across the country and could enable a decentralized power grid with regions becoming more energy independent. While only 6.6% of the current total electricity supply is from renewable and semi-renewable energy resources today, government incentives and cost-competitiveness are spurring investment, including geothermal projects.

“GreenFire Energy is well-known for its advanced closed-loop technology and its business model to accelerate geothermal projects. There is tremendous interest in GreenFire Energy’s technology and a significant demand for geothermal energy projects in Taiwan. Taiteck has participated in various engineering projects of CPC Corporation, Taiwan Power Company, Formosa Petrochemical Corporation, and Taiwan EPC Companies for more than 30 years in Taiwan. Taiteck has considerable strength to introduce GreenFire Energy’s solutions to Taiwan,” said Johnny C.Y. Liu, president of Taiteck Co., Ltd.

“GreenFire Energy has interest from geothermal projects throughout the globe. To scale our business and accelerate geothermal installations, we partner with companies that have the expertise and relationships to develop large geothermal projects. We are confident that Taiteck has the business and technical capability to help us grow geothermal in Taiwan,” said Joseph Scherer, chief executive officer, GreenFire Energy Inc.