Announced earlier this week, Japan-based Mitsui & Co., Ltd. has been able to secure a liability guarantee for its 7 MW geothermal power project in Iwate Prefecture in Japan.
Located in Matsuo-Hachimantai area of Iwate Prefecture, the project is developed by Iwate Geothermal Power Co., Ltd., in which Mitsui Oil Exploration Co., Ltd. holds a 28.86% stake. This project has now been selected for a liability guarantee by Japan Oil, Gas and Metals National Corporation (JOGMEC), which covers finance raised for future development activities.
As a result of this decision, MOECO will proceed with this project toward the commercialization of a 7 MW geothermal power generation scheme in collaboration with the other shareholders of Iwate Geothermal.
Source: Mitsui
