US geothermal technology company GreenFire Energy is looking to explore rich geothermal resources in Taiwan, where the local government has just announced a number of incentives to give the sector a boost.

The company has entered into a representation agreement with Taiwan’s energy engineering entity Taiteck, under which the latter will seek business in Taiwan on behalf of GreenFire Energy.

The need for geothermal power development in Taiwan is becoming imperative as the island must meet 100% of its electricity demand locally.