Geothermal energy is being discussed with the likes of Japanese investors.
Geothermal energy is being discussed with the likes of Japanese investors.
A memorandum of understanding signed between New Zealand and Japan could open the door to commercial geothermal opportunities, a GNS scientist says.
Taupo-based GNS senior scientist and head of geothermal science Greg Bignall said the memorandum between GNS Science, a Crown Research Institute, and the Japan Oil, Gas and MetalsNational Corporation signed last week had been about 15 years in the making.
He said the memorandum would not change the way people use geothermal presently, but could have impacts through the sharing of innovations and resources, and provide commercial opportunities for geothermal services.
"It will result in better systems for delineating resources, which will have an impact on potential uses down the track.
"Service companies like drilling companies could piggy-back on that, it could introduce them to potential Japanese providers.
"The Japanese are influential in the heavy industry market - there are a lot of positives.
"There is a lot of research and collaboration that happens. What this memorandum of understanding has done is bring opportunity to tap into that research money in Japan and collaborate on projects."
Mr Bignall, who was heading to Japan in November to build on relationships, said it was important to share ideas with the international geothermal community.
"It is a foolish person that doesn't look over the fence to see what their neighbour is doing."
Contact Energy communications manager Shaun Jones said other nations were keen to learn from the country's geothermal energy developments and innovations.
"Contact welcomes the signing of the geothermal memorandum of understanding and is always interested in talking with other parties about possible opportunities to work together."
A Mighty River Power spokeswoman said the company welcomed the Government's establishment of a strategic partnership with Japan, supporting research and development of renewable energy.
Strettons director Daniel Britten, who manages Ngati Tuwharetoa Geothermal Assets, said the company was focusing on New Zealand.
