Toshiba and ORIX will own 55% and 45% stake respectively in the new company Nakao Geothermal Power Generation.
The new company will produce high-temperature steam from the natural hot spring sources of the Nakao area, which will be helpful to generate geothermal power.
Nakao Geothermal will also conduct surveys to find hot spring sources in the Nakao area, including well testing and environmental surveys of the surrounding area.
The company is also planning to construct a geothermal power plant with power generation output of 2,000 kW, which will commence power generation in 2015, if the tests confirm commercial viability in the area.
The planned geothermal power generation facility will use the Toshiba’s Geoportable, a compact geothermal power generation system ideal for locations with one or two geothermal wells.
Both the companies will take the help of Nakao Hot Springs to promote business development with the aim of utilising geothermal energy in the hot-spring area.
