Firstly, the company announced that it has entered a representation agreement with Taiteck Co., Ltd of Taiwan.
Secondly, Taiteck will secure and service business in Taiwan on behalf of GreenFire Energy.
The need for geothermal power development in Taiwan is becoming imperative. The country must meet 100% of its electricity demand locally. However, Taiwan is located along the Ring of Fire and is rich with geothermal resources.
Moreover, a recent study concluded that Taiwan has sufficient geothermal potential; to generate an estimated 31.8 GW of electricity. It is equivalent to the country’s current total baseload power consumption.
Also, geothermal resources are dispersed across the country. It could enable a decentralized power grid with regions becoming more independent. While only 6.6% of the current total electricity supply is from renewable and semi-renewable energy resources today. Government incentives and cost-competitiveness are spurring investment, including geothermal projects.
GreenFire Energy is well-known for its advanced closed-loop technology and its business model to accelerate geothermal projects. There is tremendous interest in GreenFire Energy’s technology and a significant demand for geothermal energy projects in Taiwan. Taiteck has participated in various engineering projects of CPC Corporation, Taiwan Power Company, Formosa Petrochemical Corporation, and Taiwan EPC Companies for more than 30 years in Taiwan. Taiteck has considerable strength to introduce GreenFire Energy’s solutions to Taiwan.Johnny C.Y. Liu, president of Taiteck Co., Ltd.
GreenFire Energy delivers fast, low-cost, and high ROI geothermal retrofit, expansion, and greenfield projects. Leveraging existing geothermal infrastructure, the company´s projects fuel a rapid, scalable business model.
In addition, this unmatched scalability has led to commercial relationships with geothermal operators. GreenLoop technology is adaptable to access the broad spectrum of geothermal resources.
This flexibility is made possible by the company’s proprietary GreenLoop Resource and Project Analytic models that accurately assess potential projects and optimize GreenLoop’s ability to produce energy from a variety of geothermal resources without resource depletion.
GreenFire Energy’s technology has been developed with grants from the U.S. Department of Energy and the California Energy Commission and is the result of years of research conducted with U.S. National Laboratories, major universities, and eminent experts in multiple disciplines.
Also, the company has extensive international patents. The company is headquartered in the San Francisco Bay Area in California, USA.
For more information visit: www.greenfireenergy.com.
Established in 1982, Taiteck is experienced in providing energy engineering services including oil and gas engineering, power system, project management, and consultation in Taiwan.
Finally, Taiteck’s technical engineers 25 years of professional experience in power construction management, LNG, onshore and offshore drilling, geothermal drilling, and offshore engineering supervision.