Major step for geothermal energy in Asia – Baseload Capital and Google forge corporate PPA

Long-term partnership to supply Google’s operations in Taiwan with clean, firm geothermal energy-setting a new standard for the tech industry.

STOCKHOLM, April 17, 2025 /PRNewswire/ — Global geothermal developer Baseload Capital and Google today announced the signing of the first corporate power purchase agreement (CPPA) for carbon-free geothermal energy in Taiwan.

As AI and hyperscale data centers expand, so does the need for a reliable, always-on energy supply. Baseload’s geothermal solutions provide the stability needed to meet future energy demand, ensuring that digital innovation is powered by clean, firm, and sustainable energy. 

Geothermal is the world’s largest untapped energy resource–clean, reliable, and available 24/7. Through its innovative strategy and global portfolio, Baseload Capital de-risks investments and accelerates geothermal development.

The partnership’s initial projects will add 10 MW of clean energy to the grid, doubling Taiwan’s current geothermal capacity in commercial operation. Once operational in 2029, the projects will supply capacity to help power local data center operations and offices.

By integrating geothermal power into its energy portfolio, Google is not only reducing its own carbon footprint but also paving the way for a broader industry shift toward firm, clean energy. This CPPA ensures a steady supply of clean power, reducing reliance on fossil fuels and strengthening energy security.

Beyond the CPPA, the partnership includes an equity investment by Google in Baseload Capital to support the company’s efforts to scale geothermal energy.

Together, Baseload and Google are advancing the path to 24/7 carbon-free energy, by accelerating another critical resource for reliably meeting the tech industry’s electricity demand.

“We are proud to lead the way in signing corporate PPAs that drive positive change. This agreement underscores the growing market recognition of–and demand for–24/7 clean, firm energy. Our partnership highlights how Baseload’s mission aligns with Google’s portfolio, creating powerful synergies for sustainable tech growth,” said Alexander Helling, CEO of Baseload Capital.

“Through this long-term partnership with Baseload, we aim to unlock geothermal potential, driving the clean energy development needed to help decarbonize our operations and supply chains in Taiwan and globally. We hope this first corporate agreement for geothermal in Taiwan will help to scale corporate procurement for geothermal projects across the region and worldwide,” said Michael Terrell, Sr. Director of Clean Energy and Carbon Reduction at Google.

CONTACT:

For more information, please contact:
Kristina Hagström-Ilievska CMO, Baseload Capital
kristina.hagstrom.ilievska@baseloadcap.com
Tel: +46 (0) 732330039

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