Japan:

Japanese Bank to Invest in Geothermal Power Generation (Digitimes)

SB Energy plans to start construction of geothermal power-generating facilities in 2016-2017

Japan-based SoftBank has instructed SB Energy, its subsidiary specifically for investments in developing renewable energy, to extend construction and operation to geothermal power generation.

SB Energy is surveying hot spring spots with potential geothermal resources in Niigate Prefecture, central Japan, for a plan to install geothermal power-generating capacity of 300 Kw with estimated investment of JPY100-1,000 million (US$0.80-8.03 million). SB Energy plans to start construction of geothermal power-generating facilities in 2016-2017 and begin operations in 2020.

As there have been few geothermal power projects in Japan, SB Energy has a cautious attitude and therefore will step in at a small scale to gain experience and know-how before making larger investments in the future.

The Japan government, in its renewable energy development plans, places importance on geothermal power generation and has set a target cumulative installation capacity of 1,550 MW for 2030.

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