New Zealand has signed an agreement with Japan which will see the two countries collaborate on the development of geothermal energy.
NZ Energy and Resources Minister, Simon Bridges witnessed the signing of the Memorandum of
Understanding between New Zealand’s GNS Science and the Japan Oil, Gas and Metals National Corporation (JOGMEC) during his visit to Tokyo this week. The MOU establishes the basis for cooperation in geothermal energy, which NZ has identified as a significant area of national expertise.
“Globally, geothermal energy is experiencing a renaissance, and I’m pleased that our two countries can share their pioneering experience – characterised by innovative, sustainable and respectful management of geothermal resources.”
The agreement includes technical cooperation in the evaluation and mitigation of environmental impacts of geothermal energy development, development of survey methodologies over large spatial areas, and methods for sustainable management of geothermal reservoirs.
“At nearly 80 per cent, New Zealand’s share of renewable electricity generation in 2014 was the fourth highest in the world. Geothermal generation has more than doubled over the past decade and is a true New Zealand success story,” Mr Bridges says.
“Our renewable advantage in New Zealand, including the continuing growth of world-class geothermal energy, presents real opportunities to leverage our expertise and experience overseas for economic advantage.”