Baseload Capital Partners with Google for Taiwan's First Geothermal Energy Corporate Power Purchase Agreement

Baseload Capital Partners with Google in Taiwan

In a significant step towards sustainable energy, Baseload Capital, headquartered in Stockholm, Sweden, has partnered with Google, based in Mountain View, California, to initiate Taiwan's first Corporate Power Purchase Agreement (CPPA) for geothermal energy. This partnership aims to harness the untapped potential of geothermal energy, marking a pivotal moment for both organizations in their quest for cleaner energy solutions.

Rising Demand for Renewable Energy

The surge in artificial intelligence and the rapid expansion of large data centers have significantly increased the demand for reliable renewable energy sources. Baseload Capital’s geothermal solutions are designed to provide stable, clean, and sustainable energy essential for meeting future energy demands. This initiative not only promises to support technological innovations but also ensures that businesses can thrive without exacerbating environmental concerns.

Geothermal energy is recognized as one of the largest untapped energy resources globally, known for its reliability and availability 24/7. By leveraging innovative strategies and a robust global geothermal development portfolio, Baseload Capital aims to mitigate investment risks associated with geothermal development while promoting its increased utilization.

Long-term Partnership for Clean Energy

The CPPA between Baseload Capital and Google signifies a long-term commitment to supply renewable geothermal energy for Google's operations in Taiwan. This agreement is the first of its kind in the region, reflecting a groundbreaking initiative that sets a precedent for future collaborations focused on renewable energy sourcing.

The inaugural project under this partnership is set to come online in 2029, with an aim to add 10 megawatts of clean energy to the existing power grid in Taiwan. This enhancement is expected to double the geothermal power capacity currently operational in the region, enabling a consistent energy supply for Google's local data centers and offices.

By incorporating geothermal energy into its energy portfolio, Google not only takes a significant stride towards reducing its carbon emissions but also illustrates a pathway for the industry to transition to a stable and reliable clean energy framework. The CPPA promises to reduce dependency on fossil fuels, thereby fortifying energy security in Taiwan.

In addition to the CPPA, the partnership represents a financial commitment from Google to support Baseload Capital's efforts aimed at expanding geothermal energy resources.

Accelerating the Transition to Carbon-Free Energy

Both Baseload Capital and Google are dedicated to advancing the development of essential geothermal resources to meet the technological industry's energy demands. This collaboration accelerates the shift to carbon-free energy that is available around the clock throughout the year.

Michael Terrell, Senior Director of Clean Energy and Carbon Reduction at Google, expressed: "Through our long-term partnership with Baseload Capital, we aim to unlock geothermal potential and propel clean energy development necessary for decarbonizing our operations and supply chain in Taiwan and beyond. We anticipate that this geothermal CPPA will inspire an increase in geothermal energy projects throughout Asia and globally."

Baseload Capital CEO Alexander Helling stated, "We are proud to spearhead this CPPA with Google, which represents a growing market interest in clean, stable energy available 24/7. Our partnership demonstrates the complementary mission of Baseload Capital and Google's portfolio, driving technological growth in a sustainable manner."

About Baseload Capital

Baseload Capital is at the forefront of expanding geothermal energy resources as a clean power and thermal source that is available 24/7. Through collaboration with strong shareholders and partners, Baseload Capital mitigates risks associated with geothermal resource development while expanding the geothermal market.

Investing in geothermal projects globally, Baseload Capital's subsidiary, Baseload Power, is responsible for the development, construction, and operation of geothermal projects financed by Baseload Capital.

About Baseload Power Japan

A wholly-owned subsidiary of Baseload Capital, Baseload Power Japan was founded in 2018 to develop, permit, construct, and operate geothermal power plants in collaboration with local communities and power companies. Its mission is to create more self-sustaining communities through the promotion of renewable energy while striving for harmony between people and the planet, backed by long-term investors on a global scale.

For more information, please contact:
Baseload Power Japan
Website: https://www.baseloadpower.jp/
Email: info@baseloadpower.jp, claire.lai@baseloadcap.com