Mitsubishi Materials Corp, Electric Power Development Co, or J-Power, Nittetsu Mining Co Ltd and Kyushu Electric Power Co are stepping up efforts with the help of Tokyo to make more geothermal power stations.
Why not? Japan has more than its share of active volcanoes. And Japan needs a home grown source of energy. What’s more, geothermal power plants emit far less CO2.
Mitsubishi and J-Power will dumb Y40billon ($420m) to construct a georthermal power plant in Yuzawa in Akita. The facility will tap hot water and steam around 2000 meters below the surface by 2016.
Japan’s METI has set up a group to figure out how to help these companies to their thing, including financial support.
In the 70’s – think oil crisis – geothermal plants got a hot spurt, but nuclear power stations won out.
Japan has 18 geothermal plants that account for about 0.2% of electicity in the country. Japan!? Can you say Iceland?