Japan’s government will begin supporting private companies to develop geothermal power plants, tapping into the country’s geothermal resources, the world’s third largest, sources close to the matter said on Friday.
The government aims to commercialize geothermal power plants by 2030 by setting up a public-private sector committee to identify issues such as how to use next-generation geothermal technology and shorten the development timeline for the plants, sources said.
State subsidies for geological surveys will also be increased, as mining operations cost about 1 billion yen ($6.5 million) and success rates are low.
Image shows Hachobaru Geothermal Power Plant in Ota Prefecture. (Photo courtesy of Kyuden Mirai Energy Co.)(Kyodo)
Until the release of steam after drilling is confirmed, the government-backed Japan Organization for Metals and Energy Security will fully fund the company’s risk-reducing costs.
These measures will be reflected in the government’s draft Basic Energy Plan by the end of this year.
Prime Minister Shigeru Ishiba is keen to promote the development of the geothermal power plant as he sees it benefiting the local economy, as there are many geothermal resources in rural areas.
The development of such plants remains a complex problem due to the difficulty of coordinating with operators of hot springs.
A conventional geothermal plant generates electricity by extracting steam heated by high-temperature magma deep underground through vents to spin turbines.
However, new generation “closed-loop” technology collects hot water from greater depths and as such does not conflict with the source of hot springs.
With the current geothermal energy output at about 600,000 kW, the government aims to increase the output to 1.5 million kW by fiscal year 2030.
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