GreenFire Energy Inc., Taiteck Co., Ltd, and Taiwan Power Company have signed a memorandum of understanding (MOU) to develop geothermal projects in Taiwan using GreenFire Energy’s closed-loop technology, GreenLoop™.
Taiwan Power Company, the state-owned energy provider, manages the development of green energy and the reduction of carbon emissions across the country.
GreenLoop’s advanced geothermal system can access a broad spectrum of geothermal and certain oil and gas resources that conventional technology cannot, thereby enabling the retrofitting of idle wells, expansion of existing fields, and development of new geothermal resources.
The collaboration is expected to accelerate Taiwan’s progress towards its Net Zero Emissions 2050 goal, and potentially restore productivity to old or abandoned geothermal wells.
