In a groundbreaking move that could reshape the geothermal energy landscape, Baseload Capital and Google have inked the first corporate power purchase agreement (CPPA) for geothermal energy in Taiwan. Announced on April 15, this deal is set to double the island’s current geothermal energy capacity in commercial operation, injecting a much-needed boost to Taiwan’s renewable energy ambitions.
The partnership, which includes an equity investment from Google, aims to add 10 MW of geothermal power to Taiwan’s grid by 2029. This energy will primarily serve Google’s data center operations and offices, demonstrating the tech giant’s commitment to powering its digital innovations with clean, firm, and sustainable energy. “This CPPA ensures a steady supply of clean power, reducing reliance on fossil fuels and strengthening energy security,” said Google officials, underscoring the strategic importance of the deal.
Baseload Capital’s geothermal technology is expected to provide the stability needed to meet future energy demands. The company’s strategy, which “de-risks investments and accelerates geothermal development,” aligns perfectly with Google’s goals for decarbonizing its operations and supply chains. “We are proud to lead the way in signing corporate PPAs that drive positive change,” said Alexander Helling, CEO of Baseload Capital. “This agreement underscores the growing market recognition of—and demand for—24/7 clean, firm energy.”
The partnership is not just about meeting Google’s energy needs; it’s about setting a precedent for the broader industry. “Through this long-term partnership with Baseload, we aim to unlock geothermal potential, driving the clean energy development needed to help decarbonize our operations and supply chains in Taiwan and globally,” said Michael Terrell, senior director of Clean Energy and Carbon Reduction at Google. This deal could pave the way for more corporate procurement of geothermal projects, both in the region and worldwide.
Taiwan, with its ambitious renewable energy targets, is the perfect testing ground for this partnership. The country aims to achieve 20% renewable energy generation by the end of this year, with a significant focus on solar and wind power, particularly offshore wind. The addition of geothermal energy to this mix could provide a more stable and reliable source of power, complementing the intermittent nature of solar and wind.
The Baseload Capital-Google partnership is a bold step forward in the geothermal energy sector. It challenges the norm of relying heavily on solar and wind power and sparks a debate on the role of geothermal energy in the renewable energy mix. As the world grapples with the challenges of climate change and energy security, this deal serves as a reminder that there are multiple paths to a sustainable future. The success of this partnership could inspire more companies to invest in geothermal energy, accelerating its development and integration into the global energy landscape. The ripple effects of this deal could be far-reaching, shaping the future of the energy sector in ways we are only beginning to imagine.
