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CPC Corporation, Taiwan signed an MOU with GreenFire Energy Inc. to work together to develop geothermal energy projects

10 Jan 2023

CPC Corporation, Taiwan (“CPC”) has signed a memorandum of understanding (MOU) on 10 January, 2023, with GreenFire Energy Inc. (“GreenFire”) to collaborate on developing geothermal projects in Taiwan. Signing on behalf of CPC was its Deputy CEO of Exploration & Production Business Division, Dr. Chen-Hui Fan, while GreenFire was represented by its Project Developer, SE Asia, Mr. Glenn U. Golla..

CPC, in response to the long-term goal of achieving net zero emissions by 2050, has begun to actively develop various energy transition-related businesses, including accelerating the development of renewable energy. Leveraging on its rich experience in petroleum exploration and drilling, CPC has been engaging in geothermal exploration and development in Taiwan.

GreenFire has developed a versatile, closed-loop advanced geothermal system called GreenLoop, which can rapidly and economically access the entire spectrum of geothermal resources, and the said technology has taken to promote in Taiwan from August 2022 with Taiteck Co. Ltd. GreenFire has rich global geothermal expertise in providing a complete solution of technologies and services that span the geothermal project lifecycle with partner companies.

After the signing of this MOU, the parties will jointly carry out research on advanced geothermal development technologies, with the hope of accelerating the expansion of geothermal power production and moving towards the provision of sustainable clean energy.