Google LLC has entered into a long-term power purchase agreement with Swedish developer Baseload Capital AB to secure a continuous supply of geothermal electricity for its operations in Taiwan. This partnership marks the country’s first corporate power agreement for geothermal energy and aims to strengthen energy resilience within the fast-growing technology sector. The initial project will add 10 megawatts (MW) to the Taiwanese grid, effectively doubling the island’s current commercial geothermal generation capacity.
Stable capacity for data centres
Expected to become operational in 2029, the installation will deliver firm energy to Google’s infrastructure, including data centres and offices. The integration of this 24/7 available energy addresses the increasing need to power large-scale computing systems without interruption. As artificial intelligence drives the rapid expansion of data centres, demand for reliable electricity continues to intensify, making such contracts strategic for major digital companies.
Baseload Capital, which specialises in de-risking geothermal investments, is pursuing a global strategy to accelerate the development of this largely untapped energy resource. Its business model relies on adaptable technical solutions and a financial approach designed to appeal to large industrial consumers.
Strategic Google investment in geothermal energy
Beyond the power agreement, the deal includes an equity investment by Google in Baseload Capital. This move aims to support the global development of the Swedish company’s geothermal portfolio. It also reflects growing corporate interest in low-carbon energy sources capable of operating continuously.
The implementation of the Taiwan project aligns with a broader trend of private-sector commitments to alternative energy sources. It could serve as a reference for similar initiatives in the Asia-Pacific region, where geothermal opportunities remain largely underdeveloped despite significant potential.
A milestone for the Asian market
Baseload Capital and Google hope the agreement will encourage other companies to adopt geothermal energy on a commercial scale. The technology company views the partnership as a lever to create a more diversified and secure energy supply chain both locally and globally. According to both parties, geothermal provides a technical response to the intermittency challenges faced by other renewable sources.
Alexander Helling, Chief Executive Officer of Baseload Capital AB, stated that the agreement highlights growing market recognition for geothermal energy. Michael Terrell, Senior Director of Clean Energy and Carbon Reduction at Google LLC, said the company aims to expand this agreement model to other countries, noting that this pilot project could help catalyse new investment across the sector.
