Marubeni plans to build geothermal plants in northern Japan by 2013
Yamagawa geothermal power plant, Japan
Alexander Richter
5 Oct 2011
Marubeni Corp. is planning to enter the Japanese geothermal market planning on building geothermal plants in northern Japan by fiscal year 2013.
Reported from Japan this week, “Marubeni Corp. (MARUY) will delve into the Japanese market for geothermal power as the move toward clean energy gains momentum, The Nikkei reported in its Thursday morning edition.
The trading house plans to build geothermal power plants in northern Japan by fiscal 2013, drawing on its experience in this business in Costa Rica.
High costs and regulations have stymied the spread of this power source in Japan despite the volcanic country’s wealth of geothermal resources. But with a government program to buy up 100% of electricity generated from renewable energy sources slated to start next year, Marubeni and other companies see the geothermal power business as financially viable.”
The company recently announced winning a tender for a geothermal project in Indonesia.
Source: BusinessWeek
