Swedish energy company Climeon has clinched its first geothermal heat power order in Taiwan.
The project has been commissioned by Baseload Power Taiwan and includes Climeon heat power systems, as well as design and consultancy services for the surrounding power plant.
The total order value amounts to about $4.2m, Climeon said.
The modular heat power plant will be built in eastern Taiwan.
Climeon chief executive Thomas Ostrom said: “We are proud to continue our global expansion through a first order in Taiwan. The geological conditions combined with financial incentives for green electricity production makes Taiwan an interesting market with great potential.”
Climeon has worked together with Baseload Capial in Taiwan since the beginning of 2019 to establish collaborations with local businesses, landowners and local authorities.
Öström said: “Our vision is to deliver an increasingly complete power plant solution to our customers. In addition to our modules, we also offer the surrounding services that are part of a holistic solution.
“Through a broader customer offering, including consultancy services, we have negotiated significantly better payment terms. This helps to strengthen our financial position.”
Taiwan, like Japan and the west coast of the US, is located in the “ring of fire” – an arcuate area along the Pacific Ocean coastal areas, which is known for high seismological activity. Despite this, there are few active commercial geothermal power plants in the country, Climeon said.