Mitsubishi Materials, Partner Set Up Geothermal Power Venture

Mitsubishi Materials Corp. and Mitsubishi Gas Chemical Co. set up a venture with plans to develop a geothermal power project in Japan’s northern prefecture of Iwate.

The venture will conduct an environmental impact assessment after earlier tests confirmed an area in Hachimantai City has 15 MW of geothermal capacity, the companies said in a statement Thursday.

The partners are aiming for the plant to start running in 2022, Hiroshi Shimizu, a spokesman for Mitsubishi Materials, said by phone.

Mitsubishi Materials has a 60 percent stake in the venture, while Mitsubishi Gas Chemical holds the remainder.

©2015 Bloomberg News

Lead image: Drill. Credit: Shutterstock.

Previous articleNew Book Chronicles Three Cities Taking Charge of Their Energy Future
Next articleAlberta Promises To Boost Renewables, Phase Out Coal
Copyright 2018 Bloomberg

No posts to display