The project will generate 42 MW, or enough electricity for 80,000 households a year, and is expected to cost the consortium of J-Power, Mitsubishi Materials and Mitsubishi Gas Chemical around 30 billion yen ($244 million).
Slated to go online in 2019, the plant in the city of Yuzawa will be Japan's first geothermal station with output of more than 10 MW in 23 years.
More than five other big geothermal projects in Japan are also on the drawing board. Idemitsu Kosan and Japan Oil Development are among those conducting drilling surveys.
The government projects geothermal energy to rise from 0.3% of the country's overall power generation mix to around 1% by 2030.
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