Award-Winning Green Infrastructure Developer, TerraScale, Realizes Benefit of Two-Year Pre-Development Work in Japan
SANTA MONICA, Calif., May 1, 2023 /PRNewswire-PRWeb/ -- TerraScale Inc. announced that it has secured a 113 acre section of land in Northern Japan for development of the Green Snow project with US company Climate Transition Development Inc. and Japanese company, Global Family. This project, which will include a series of Geothermal Plants, signifies the completion of the pre-development work for Project Green Snow. The land acquisition marks a significant milestone in the development of the Green Snow project and comes at a time of greater US - Japanese collaboration to realize Japan's geothermal energy production potential.
This groundbreaking initiative in geothermal energy development is led by TerraScale CEO, Danny Hayes.
"We are proud to work in collaboration with our esteemed Japanese co-development partners, Global Family, to deliver the Green Snow geothermal development in Japan in support of Japan's 2030 Climate Plan," said Hayes. "Japan has incredible untapped potential in geothermal production. The development of the Green Snow project is a step towards Japan realizing its 2030 climate plan by increasing production of green energy."
This pre-development process took two years to complete in collaboration with Japanese development partners. TerraScale entered into the Japanese market in 2021, when it won an RFP to develop renewable energy and data centers in the region from Wakayama Prefecture that was memorialized in a Memorandum of Understanding.
As announced on April 15, 2023, Japan and the United States agreed to cooperate on developing geothermal energy in Japan during a meeting of the Group of Seven energy and environment ministers in Hokkaido. A memorandum of commitment was signed by Energy Secretary Jennifer Granholm and Japan's Minister of Economy, Trade and Industry, Yasutoshi Nishimura. The pact recognizes geothermal energy as a renewable energy technology that both countries can work together to advance.
The agreement calls for collaboration in research and development, exchange of information, and pursuit of geothermal projects in the US, Japan, and other countries. The cooperation aims to reduce reliance on fossil fuels and cut carbon emissions contributing to climate change.
Increasing geothermal power could enable Japan to provide 90% of its power generation from renewable sources, leading to a 92% reduction in greenhouse gas emissions, according to the Lawrence Berkeley National Laboratory. Currently, Japan's geothermal capacity is underutilized, with small power plants accounting for less than 1% of its total power-generating capacity.
By creating opportunities for American companies to take the lead as developers, the Green Snow project supports the Japanese government's climate goals and highlights the importance of international cooperation in advancing clean energy solutions and overcoming obstacles in the global energy market. The Green Snow project is expected to pave the way for further geothermal energy initiatives, setting a new standard for renewable energy and sustainable practices worldwide.
About TerraScale Inc.
TerraScale is a green technology and infrastructure development company reinventing the future of global sustainable development models. TerraScale places green energy, digital infrastructure, and cybersecurity at the center of its data center development projects and solutions. Bringing together the best-in-class partners and service providers across technology, green engineering, cybersecurity, real estate, energy construction firms, and more, TerraScale modernizes businesses and communities around the world- creating solutions and infrastructure that are future-proof. TerraScale is an official authorized reseller for Equinix, The World's Digital Infrastructure Company™. TerraScale is the winner of five prestigious design and architecture awards. For more information, visit https://terrascale.org/.
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SOURCE TerraScale
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