Japan: Toshiba: “We are just doing turbines now but we want to take full advantage of business opportunities in every stage of the value chain.”

Toshiba Eyes Expanding Its Geothermal Business Beyond Turbines (Bloomberg)

Toshiba Corp., the world’s biggest supplier of turbines used to produce electricity from the heat trapped underground, will expand its geothermal power business into operation and maintenance services as it aims to extend its lead in a global market dominated by a handful of competitors.

“We are just doing turbines now but we want to take full advantage of business opportunities in every stage of the value chain,” Tsutsomu Higashizawa, who is in charge of the Tokyo-based company’s global geothermal business, said in an interview.

Three Japanese manufacturers dominate the market for geothermal turbines. Toshiba, which has provided equipment for projects accounting for more than 3,000 megawatts of capacity, has a 23.4 percent share, trailed by Fuji Electric Co. and Mitsubishi Hitachi Power Systems Ltd. with 21.2 percent and 20.7 percent, respectively, according to data from Bloomberg New Energy Finance. Mitsubishi Hitachi is a venture between Mitsubishi Heavy Industries Ltd. and Hitachi Ltd.

“Our goal is to get a 100 percent share of the market, but more realistically we are aiming for at least half,” Higashizawa said.

Toshiba American Energy Systems Corporation (TAES) will be exhibiting at theGRC Annual Meeting & GEA Geothermal Energy Expo, October 23-26 in Sacramento, California, USA.

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