Google, Baseload Capital ink geothermal PPA in Taiwan
Taipei, Taiwan (source: Steffen Flor / flickr, Creative Commons)
Alexander Richter
15 Apr 2025
Google and Baseload Capital sign a 10MW geothermal PPA in Taiwan, marking the country’s first corporate geothermal deal and doubling its installed capacity.
In a landmark agreement that sets a new standard for clean energy procurement in Asia, Google and Baseload Capital have signed a 10 MW corporate power purchase agreement (PPA) for geothermal energy in Taiwan – the first of its kind in the country.
The deal not only includes long-term electricity supply to power Google’s data centers and offices in Taiwan, but also involves a direct equity investment by Google into Baseload Capital, aimed at accelerating the deployment of firm, 24/7 geothermal energy in the region and beyond.
The partnership represents Google’s first geothermal PPA in the Asia-Pacific region and signals increasing corporate interest in firm renewable energy to meet the growing demands of AI and hyperscale data center operations.
“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,” said Michael Terrell, Sr. Director of Clean Energy and Carbon Reduction at Google.
Doubling Taiwan’s Geothermal Capacity
The 10 MW of capacity to be added through this partnership is expected to come online in 2029 and will double Taiwan’s current installed geothermal capacity, which stands at approximately 7 MW across five small-scale projects. Taiwan’s government has set ambitious goals of reaching 20 MW by 2025 and 6 GW by 2050.
Baseload Capital, a Sweden-based geothermal investment firm, has operated in Taiwan since 2019 through its local subsidiary Baseload Power Taiwan. The company is actively developing several projects in the country, including one in Hualien, which remains in the drilling phase and is expected to deliver 2 MW upon completion.
“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.
A Model for the Region
Taiwan’s location on the Pacific Ring of Fire gives it considerable geothermal potential – estimated between 30 to 60 GW- yet commercial development has lagged behind other renewable sources. The Google–Baseload agreement is positioned as a catalyst for geothermal market growth in Asia, helping de-risk investment and spur corporate procurement.
Globally, this is not Google’s first step into geothermal. In 2023, the tech company secured 115 MW of geothermal power through a clean transition tariff with NV Energy and Fervo Energy in Nevada. In another bold move, Meta also signed a deal with Sage Geosystems for up to 150 MW of geothermal power in the U.S., expected online by 2027.
For the Geothermal Sector
The announcement demonstrates how major technology firms are now driving demand for firm, always-available renewable energy and expanding geothermal’s role in global decarbonization. It also showcases Baseload Capital’s growing portfolio and ability to attract world-leading partners, reinforcing its position as a key player in next-generation geothermal investment.
Sources: Google Announcement, Baseload Capital release
