TerraScale selected Subterra due to its cutting-edge technology, breadth of experience, astute management team and robust partnerships.
SANTA MONICA, Calif., May 18, 2023 /PRNewswire-PRWeb/ -- TerraScale Inc., an award-winning green infrastructure and development firm, and official Equinix reseller, announces today that Subterra Renewables, a Canadian geothermal engineering, and development firm, won a highly competitive RFP for TerraScale's Green Snow Project.
The Green Snow Project, a recently announced joint collaboration between TerraScale and its co-development partners, Climate Transition Development Corporation and Global Family, is a geothermal energy initiative in Northern Japan. The project aims to harness the region's plentiful low to medium-heat geothermal resources for renewable power production. TerraScale recently announced it secured 113 acres of land in Northern Japan for the development of the project.
Under 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.
Subterra and its partners are the largest vertically integrated geothermal utility providers in North America and boasts one of the continent's largest drilling fleets. Their primary focus is geothermal drilling for power and heating and cooling systems.
"We are proud to work with Subterra on the deployment of our geothermal projects. Subterra has assumed a pivotal position in combating climate change and expediting the shift towards geothermal exchange and other low-carbon heating methods," said Danny Hayes, CEO of TerraScale. "In its industry, Subterra stands at the forefront, spearheading the adoption of renewable heating and cooling solutions for communities. Their unwavering commitment to sustainability and innovative approaches is propelling the transition to cleaner, more efficient energy systems. We look forward to working together to accelerate the transition to a renewable energy future."
The United States and Japan recently agreed to collaborate on geothermal energy development during a meeting of the Group of Seven energy and environment ministers in Hokkaido. The memorandum of commitment, signed by Energy Secretary Jennifer Granholm and Japan's Minister of Economy, Trade and Industry, Yasutoshi Nishimura, recognizes geothermal energy as a renewable technology and promotes research, development, and project pursuit in both countries and beyond. This partnership aims to reduce reliance on fossil fuels, cut carbon emissions, and combat climate change. The Green Snow project aligns with Japan's climate goals and highlights the importance of international cooperation in driving clean energy solutions, serving as a catalyst for future geothermal initiatives and sustainable practices worldwide.
"Subterra is pleased to be part of TerraScale's Green Snow Project in Japan. We look forward to playing a role in delivering the potential of this project," said Kyle Boynton, Subterra's VP of Portfolio Management. "The Green Snow project showcases the importance of international cooperation in driving innovation, sustainability, and the transition to renewable energy sources. This initiative resonates profoundly with the shared aspirations of the United States and Japan in their ambitious pursuit to curb greenhouse gas emissions and make a decisive transition towards a clean, sustainable energy future."
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 TerraScale
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