We are currently active in four countries: Iceland, Taiwan, Japan and the U.S.
In each of these markets, we have formed power companies to develop and operate the heat power plants.


Our markets are located in regions where we can access low-temperature heat without drilling to extraordinary depths, or work with the waste heat from existing power plants. Today they are: Iceland, Japan, Taiwan, the U.S. and New Zealand.
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It’s no coincidence that our first market was Iceland, the Nordic country with the most mature geothermal energy market. In January 2018, Baseload Capital acquired a stake in the local heat power developer Varmaorka, to support the construction of additional plants.

Varmaorka currently oversees 10 to 15 established district heating facilities in Iceland that are used to heat homes and greenhouses. Most of these facilities have been active for over 30 years and have a stable operational history in terms of water flows and temperatures. At each installation, a heat power plant will be connected to the existing infrastructure between the heat source and the district heating system. Each existing district heating system has the capacity for five to ten Climeon Heat Power modules, depending on the size and water temperature.
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Baseload Power Japan

During the fall of 2018, Baseload Capital founded its first official subsidiary in Japan. Within just 18 months, the local company built and commissioned its two first power plants. In Japan, we have two power plants online at two sites: Waita and Midori. A third project is also currently underway, called Sansui. 

Baseload Power Japan’s mission is to develop and operate clean, sustainable power plants together with local communities. 
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Baseload Power Taiwan

During the fall of 2019, we founded our second subsidiary, Baseload Power Taiwan.

Baseload Power Taiwan’s mission is to develop and operate clean, sustainable power plants together with local communities. We currently drilling at Westlake site, our first project in Taiwan.
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Baseload Power U.S.

In February 2018, we signed an agreement with Wendel Energy Operations in California to structure a debt facility to finance the repowering of their existing geothermal plant. Then, in July 2020, we acquired the project.

The Wendel site has been active for more than 30 years, with a stable level of water flow and temperature. The plant is expected to be commissioned during the second half of 2021. The newly generated electricity will then be sold into the transmission network. In addition, three land lease agreements have been signed in Nevada, where there is great potential for new geothermal projects.

We have also signed an LOI with the Chevron Technology Ventures to build a pilot project on one of Chevron’s oil wells.


Grab a VR headset and join us in Flúðir, Iceland for an interactive tour of our first power plant.
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