EXERGY International srl and Geothermal Development & Investment Inc. (GDI), a subsidiary of GPSS Group, have signed a partnership agreement for the exclusive distribution of turnkey geothermal power plants in Japan, using advanced, highly efficient ORC (Organic Rankine Cycle) technology.
Thanks to this partnership GDI and EXERGY will offer comprehensive solutions for the development and completion of ORC power plants, starting with the design and engineering of the system to the manufacturing, erection, start up and aftersales services, leveraging on both companies’ expertise and know-how in their fields.
“We are delighted with the signature of this agreement which is a natural evolution of the business relationship we began with GDI several years ago” explains Marco Frassinetti, sales director of EXERGY International Srl.
“Knowing that the Asian region has a huge renewables potential to tackle, we have been pursuing this key commercial area for years. We consider Japan in particular as a promising market for geothermal development. In GDI, we have found an excellent partner to offer these markets our green technologies and successfully deploy renewable energy projects exploiting the synergies we can create together”.
EXERGY has an extensive experience in power plant design for the geothermal sector and counts the world’s second-largest ORC binary fleet worldwide, with around 450 MWe of installed capacity.
GDI has established significant expertise in the one-stop development, operation and maintenance of renewable energy power plants, with several successful ORC-based geothermal projects uniquely co-developed with local communities. Leveraging these close community ties and expertise shared through the GPSS Group, GDI has built a vast development pipeline for geothermal power plants with ORC technology.
“GDI’s unique development approach focusing on close cooperation with local stakeholders combined with our advanced survey, design, and engineering abilities allows us to complement and maximize EXERGY’s technical excellence as we strive to breakthrough Japan’s notoriously underdeveloped geothermal market. GDI’s partnership with TICA opened the door for us to build a special relationship with EXERGY, with whom we have worked closely together for quite some time. This agreement serves to formalize and further strengthen our on-going collaboration,” says Tomofumi Ono, president of GDI.
The partnership between Exergy and GDI is expected to give birth to the development of joint MW scale projects and contribute to the growth of geothermal development in Japan, which has the world’s third-largest geothermal resource potential.
The strategic agreement is also an outset for the collaboration of GDI and EXERGY in other markets, such as South and Southeast Asia and Africa, as well as other applications of the ORC technology, such as waste heat recovery and other heat-related renewable energy applications.