TerraScale Inc. selected Subterra based on its advanced technology, extensive expertise, exceptional management team, and strong partnerships
TORONTO, May 18, 2023 /PRNewswire-PRWeb/ -- Subterra Renewables, a leading Canadian geothermal developer and engineering firm specializing in distributed heating, cooling and power production utilities, proudly announced its winning bid in TerraScale Inc.'s highly competitive Request for Proposal (RFP) for its Green Snow Project. TerraScale, an award-winning green infrastructure and development firm, selected Subterra based on its advanced technology, extensive expertise, exceptional management team, and strong partnerships.
The Green Snow Project, a groundbreaking joint collaboration between TerraScale and its co-development partner, Climate Transition Development Corporation and Global Family, is an ambitious geothermal energy initiative located in Northern Japan. This visionary project aims to harness the region's abundant low to medium-heat geothermal resources to generate renewable power.
As per the terms of the RFP, Subterra has been granted the first right of exclusivity to own the geothermal plant as well as to operate and maintain it over the 15-year lifetime of the Power Purchase Agreement (PPA). This right extends to future geothermal energy and power projects developed by TerraScale as well. Similar facilities are currently under consideration for development in Japan and across the globe.
Danny Hayes, CEO of TerraScale, expressed his enthusiasm, stating, "We are thrilled to collaborate with Subterra on the deployment of our geothermal projects. Subterra has assumed a pivotal role in addressing climate change and accelerating the adoption of geothermal exchange and other low-carbon heating methods. Their unwavering commitment to sustainability and innovative approaches positions them at the forefront of driving the adoption of renewable heating and cooling solutions for communities. Together, we are well-positioned to expedite the transition to a cleaner and more efficient energy future."
The United States and Japan have joined forces in the development of geothermal energy, following an agreement reached during a meeting of the Group of Seven energy and environment ministers in Hokkaido, Japan. Energy Secretary Jennifer Granholm and Japan's Minister of Economy, Trade and Industry, Yasutoshi Nishimura, signed a memorandum of commitment, recognizing geothermal energy as a renewable technology to be jointly advanced by both nations. This collaboration will involve research, development, and the pursuit of geothermal projects not only in the US and Japan but also in other countries, aiming to reduce reliance on fossil fuels and combat climate change. The Green Snow project, in line with Japan's climate goals, highlights the significance of international cooperation in driving clean energy solutions, serving as a catalyst for future geothermal initiatives and setting new benchmarks for global renewable energy and sustainable practices.
"Subterra is honored to be selected as a key partner for TerraScale's esteemed Green Snow Project in Japan. We are excited to contribute our expertise to unlock the immense potential of this groundbreaking initiative," Subterra's VP of Portfolio Management, Kyle Boynton said. "The Green Snow project exemplifies the significance of international collaboration in driving innovation, sustainability, and the transition to renewable energy sources. Our shared aspirations with the United States and Japan align perfectly in our mission to reduce greenhouse gas emissions and pave the way towards a cleaner, more sustainable energy landscape."
About Subterra:
Subterra Renewables is a highly experienced and dedicated team of geothermal exchange experts with the largest geothermal drilling fleet in North America, operating the most energy-efficient and resilient heating and cooling technology in the world. With full vertical integration, Subterra custom designs, engineers, installs, owns, and operates first-of-its-kind geothermal exchange systems that align with government ESG initiatives, expedite building approvals, and accelerate the path to Net Zero.
Available under Subterra's utility model, Aura™ serves all of North America. Learn more about Subterra: https://subterrarenewables.com/.
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 Subterra
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