GEG Power ehf.
GEG Power is a geothermal developer building its business on more than a decade of experience in the development and building geothermal wellhead power plants. The first plant of the company started operations in Kenya in 2011. As of today, GEG Power has built a total of 16 geothermal power plants with a total power generation capacity of 86.1 MW in Kenya and Iceland. See more in our References overview
GEG has developed a unique power plant system that is prefabricated in ready modules and commissioned on site in a matter of months. GEG currently delivers turnkey modular geothermal wellhead power plants sizing from 0.5 MWe to 35 MWe per unit with a flexibility in the choice of power generation technology, such as flash-condensing, binary-cycle or backpressure plants. The plants reduce capital expenses and project risk and allow for quicker payback on investment.
The plants can be scaled through several modules for larger scale development or expansions. GEG works closely with selected suppliers and contractors on different modules enabling GEG to provide geothermal power plants in a rapid scale-up on a turnkey basis. We also work together with local contractors in regards to site preparation and installation in those countries where we operate. We maintain a strong commitment to ensuring that our activities contribute positively to society and the environment.
GEG Power is a privately owned company, founded in its original form in 2007 with its headquarters in Reykjavik, Iceland
- Build and develop geothermal wellhead power plants through the delivery of complete units ready for operation
- Provide a flexible power plant solution with high scalability and quick payback on investment
- Continue to lower the capital intensity of geothermal power development
- Offer flexible solutions adapted to local environments and customer needs
- Drive the technological progress in the industry
Pushing a more sustainable future for our planet by converting renewable energy from within the Earth into electric power as efficiently as possible.
To be modular geothermal wellhead power plants sizing from 0.5 MW to 35MW per unit to over 140MW power plants.
March 5th, 2015:
Green Energy Group received the runner-up award for the European Geothermal Innovation Award 2015 by the European Geothermal Energy Council (EGEC), at the GeoTHERM Expo & Congress in Offenburg, Germany.
“The award highlights our achievements in helping Kenya to speed up geothermal energy development with our modular geothermal wellhead plants. With now 8 operating geothermal wellhead plants with a total installed power generation capacity of 45.6 MW, and our additional 5 plants we are constructing right now, we are proud of contributing to the ambitious geothermal plans in Kenya.”, so Alexander Richter, the Marketing Director of Green Energy Group at the event.
The nomination by EGEC, highlighted the “innovative business model and global technology approach for small-scale geothermal power plants in high enthalpy zones.”
Nominations for the award are assessed on grounds of originality, innovation, reliability, reduction of emissions, and improvements in energy output. The Jury selected the shortlist from twelve entries.
April 7th, 2014:
Green Energy Group AS was announced as a 2014 New Energy Pioneer by Bloomberg New Energy Finance (BNEF). The ten winners were recognized on stage at the seventh annual Bloomberg New Energy Finance Summit in New York City.
“We are extremely honoured to have received such a prestigious award and our nomination represents another successful milestone achievement for Green Energy Groups’ pioneering modular geothermal wellhead technology. Being the sole representative from the geothermal industry, amongst such a respected group of fellow awardees, this award tells us we are on the right track as we build our company around our belief in the need for smaller scale wellhead solutions for geothermal development.” said Terje Laugerud, the CEO of Green Energy Group after the awards in New York.
October 11th, 2013: Green Energy Group has been named in the prestigious 2013 Global Cleantech 100, produced by Cleantech Group, a global market intelligence and consulting firm helping executives connect with innovation.
“The Global Cleantech 100 list is unique because it highlights the promise of private clean technology companies from all around the world, focusing on those companies which the players in the market feel are currently the most likely to make the most significant market impact over the next 5-10 years. The list celebrates inspiring entrepreneurs, and serves as the industry standard on gauging where innovation is headed across key sectors.” 5,864 companies were nominated this year from 60 countries.” Said Sheeraz Haji, CEO of Cleantech Group.