Ministry of Economy, Trade and Industry
Font Size Change
S
M
L

Agency for Natural Resources and EnergyJOGMEC is to Make an Investment in a Project for Exploration for Geothermal Resources for the First Time

The Japan Oil, Gas and Metals National Corporation (JOGMEC), an organization under the jurisdiction of the Ministry of Economy, Trade and Industry (METI), concluded a basic contract for investment related to a project for exploration for geothermal resources in the Matsuo Hachimantai area in Iwate Prefecture by Iwate Geothermal Power Co., Ltd. (Headquarters: Hachimantai City, Iwate Prefecture, President & CEO: Motohisa Mizuta).
JOGMEC has proceeded with support projects such as providing subsidies for research related to geothermal resources and a liability guarantee since September 2014, but this is the first time it has provided support for a project through investment.

1. Outline of JOGMEC’s investment project

JOGMEC will provide necessary funds for exploration for geothermal resources to the company, which will conduct development of geothermal resources, as investment so that JOGMEC will bear some risks for the company. The upper limit of the investment is 50% ownership (JOGMEC should not become the sole largest shareholder or investor).

Project framework

2. Outline of the selected project in which JOGMEC is making an investment

Iwate Geothermal Power Co., Ltd. has decided to shift to an exploration project in the Hachimantai area in Iwate Prefecture, where the company has previously conducted a research project. (Expected power generation: 7,000 kW class)
JOGMEC is investing 24.99% of the budget for the exploration project in FY 2015.

For project details, see the Japanese language press release.

Release date

July 27, 2015

Division in Charge

Fuel Policy Planning Office, Policy Planning Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy

Related Information

Renewable Energy

Ministry of Economy, Trade and Industry
1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
Copyright Ministry of Economy, Trade and Industry. All Rights Reserved.