Baseload Capital Expands Geothermal Capacity Across the Globe
Deal News | May 20, 2025 | Nordic Environment Finance Cor
Baseload Capital, a Swedish company, is scaling up its geothermal energy capacity to provide reliable baseload renewable energy across various regions, from the Arctic to the Equator. The push is supported by financing from the Nordic Environment Finance Corporation (Nefco), which has boosted Baseload Capital's growth and expansion since its foundation in 2018. Geothermal energy, characterized by its constancy and cleanness, offers a stable and predictable energy source. This complements intermittent renewable sources like wind and solar. Baseload Capital focuses on low-temperature geothermal projects, maximizing the technology's underutilized potential. Its operations span Iceland, Japan, Taiwan, and the United States, capitalizing on conditions favorable for geothermal energy projects. The company's collaboration with big investors, including Breakthrough Energy Ventures, highlights its increasing momentum. Additionally, Baseload Capital's strategic alliances with major international investors bolster its clean energy objectives. Nefco's continuous support underscores the valuable resources available for Nordic companies aiming to expand global green solutions.
Sectors
- Renewable Energy
- Private Equity & Venture Capital
- Technology Infrastructure
Geography
- Sweden – Baseload Capital's headquarters are in Sweden, and it was founded there.
- Nordic Region – Nefco, Baseload Capital's financial backer, operates in the Nordic countries, aiding in the expansion of Nordic green solutions globally.
- Iceland – Iceland is mentioned as a leader in geothermal energy, providing a substantial portion of its electricity from this source.
- United States – Baseload Capital operates geothermal projects in the United States.
- Taiwan – Baseload Capital received a grant to expand to Taiwan, which has since become a key market for them.
- Japan – Japan is one of the countries where Baseload Capital operates geothermal projects.
Industry
- Renewable Energy – The article focuses on Baseload Capital's expansion of geothermal energy, which is a significant segment of renewable energy resources.
- Private Equity & Venture Capital – Nordic Environment Finance Corporation (Nefco) and other venture capitalists are involved in funding Baseload Capital's geothermal projects.
- Technology Infrastructure – Baseload Capital's partnership with Google for renewable energy for data centers in Taiwan highlights the interaction with technology infrastructure.
Financials
- – Baseload Capital received various financial instruments from Nefco, including a loan in 2019 and participation in a financing round in 2022. Additionally, grants from the Nordic Project Fund support international studies and expansions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Baseload Capital | Target Company | Company | A Swedish company that focuses on expanding geothermal energy capacity globally. |
| Nordic Environment Finance Corporation (Nefco) | Private Equity Backer | Company | A financial institution providing loans and equity investments to scale up Nordic green solutions globally. |
| Climeon | Technology Provider | Company | A Swedish company whose low-temperature technology Baseload Capital uses. |
| Breakthrough Energy Ventures | Investor | Company | A fund founded by Bill Gates focusing on developing breakthrough technologies to reduce greenhouse gas emissions. |
| ENGF | Investor | Company | An infrastructure fund supporting Baseload Capital's projects. |
| Partner | Company | Collaborated with Baseload Capital to provide renewable energy for data centers in Taiwan. | |
| Nordic Project Fund (Nopef) | Support Entity | Company | A fund administered by Nefco, providing grants to Baseload Capital for international expansion. |
| Alexander Helling | CEO of Baseload Capital | Person | Leader of Baseload Capital advocating for geothermal energy expansion. |
| Victor Degerlund | Senior Investment Officer at Nefco | Person | Provides insights on the importance of baseload energy and Nefco's role in supporting Baseload Capital. |