Baseload Power Taiwan and CPC Corp, the state-owned energy company, have signed a Memorandum of Understanding to accelerate geothermal development in Taiwan. By combining CPC’s local expertise and resources with Baseload’s international geothermal experience, the parties will be able to explore opportunities to develop geothermal projects across the country, 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 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. The MOU serves as a framework for further evaluation and collaboration and reflects the shared ambition of both parties to explore geothermal development in Taiwan.
