Baseload Power Taiwan and CPC Corp., Taiwan, the state-owned energy company, have signed a memorandum of understanding (MoU) to accelerate geothermal development in Taiwan. By combining CPC’s local expertise and resources with Baseload’s international geothermal experience, the parties will explore opportunities to develop geothermal projects across Taiwan, beginning with the Tuchang geothermal project in Yilan County.
Under the MoU, the parties will co-operate on resource evaluation, technical collaboration, due diligence, feasibility studies, and commercial discussions related to geothermal development. The agreement also includes exploring future joint investment structures that could support the growth of geothermal projects across Taiwan.
Taiwan possesses significant geothermal potential and has identified geothermal energy as an important component of its energy transition. By bringing together local and international expertise, the collaboration aims to support the development of reliable, domestically produced renewable energy while contributing to Taiwan’s long-term energy security and decarbonisation goals.
Baseload Power Taiwan has been active in Taiwan since 2019 and is currently advancing geothermal projects in several regions across the country. As part of the Baseload group, the company leverages experience from geothermal development and operations in multiple markets, including Japan, Iceland, and the US.
Alexander Helling, CEO of Baseload Capital, said: “Taiwan has some of the strongest geothermal potential in Asia and a clear ambition to expand renewable energy. Through this collaboration with CPC, we are bringing together complementary expertise to help unlock that potential. We see this as an important step not only for the Tuchang project, but for the long-term growth of Taiwan’s geothermal sector.”
The MoU serves as a framework for further evaluation and collaboration and reflects the shared ambition of both parties to explore scalable pathways for geothermal development in Taiwan.
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