Bill Gates-backed Baseload Capital has commissioned its second geothermal power plant in Japan, marking further expansion into a market with significant untapped geothermal resources. By : Robert Buluma Image : Kazuyuki Akaishi, manager at Furusato Netsuden and Anders Helling, CEO at Baseload Capital. Press photo ., Credit : Imapct loop The Waita Model: How a Swedish-Backed Startup Just Cracked Japan's Geothermal Code KUMAMOTO / STOCKHOLM — In the misty highlands of Kumamoto Prefecture, on the southern island of Kyushu, a quiet revolution in renewable energy has just switched on. On June 4, 2026, Stockholm-based Baseload Capital officially commissioned its second geothermal power plant in Japan: Waita No. 2. While a 4.995 MW facility might seem modest compared to a nuclear reactor or an offshore wind farm, the financial and political ramifications of this event are seismic. For decades, Japan has been described as the "Saudi Arabia of geothermal." The archipel...
The Billion-Dollar Gamble Beneath Our Feet: Why Geothermal Exploration Is the Industry’s Greatest Risk
Exploration Risk: The Billion-Dollar Gamble Beneath Our Feet By: Robert Buluma Image credit: Kane Watikson on LinkedIn Geothermal energy is often described as the sleeping giant of the clean energy transition constant, weather-independent, capable of delivering 24/7 baseload power without the intermittency that defines solar and wind. Yet despite this extraordinary promise, geothermal remains underdeveloped in most parts of the world. The reason is not lack of heat. It is not lack of demand. It is not even lack of technology and not even FINANCE , Whilst many will throw that policy card, but Alphaxioms is already future proofing that . The real barrier lies several kilometers beneath our feet in uncertainty. Exploration risk is the defining challenge of geothermal energy. Unlike wind turbines that can measure wind speeds before construction, or solar farms that can predict output from sunlight data, geothermal developers must make multimillion-d...