Complete Global Development
As a global developer, we believe in the value of integrated development — we have fully adopted the approach of vertically integrating ourselves in projects, either through our own development or by adding value to existing projects.
With our expertise in developing, designing, building, and operating geothermal power plants, and by tapping into the wider experience of our employees and partners, we are well positioned for successful implementation of geothermal projects.
We believe in the wider opportunities presented by geothermal energy resources and strive to maximize the utilization beyond electricity, e.g. with direct use opportunities. This supports not only the business model of development, but also local economies.
We are not only vertically integrating our experience and capabilities, but are also horizontally expanding the commercial opportunities presented by geothermal development.
By focusing on solutions to project development, we have created our own proprietary designs and products, and have a proven track record on development and consultancies. Furthermore, we have experience in securing development grants globally which support early-stage geothermal development.
Managing the complete Engineering, Procurement, and Construction process for project development either for our own projects or for those done in partnership, we also finance development. To date we have successfully brought a total of 16 geothermal power plants online from wellhead to operation.
With a global focus on modular geothermal development, we invest in projects in Africa, Europe, Asia, and Latin America from the early stages of project development to operation — targeting not only development but also the operation of projects, both for power generation and the direct use of geothermal resources.
There are several applications and further uses of geothermal, such as direct use, which GEG intends to focus on. Some examples of these applications which have been successfully employed in Iceland include:
- Heating local swimming pools
- Melting snow on sidewalks during the wintertime
- Drying fish, wood, teas, etc.
- Salt production and desalination of water
- Seaweed processing plants
- Greenhouses and agriculture
- Production of methanol
- Production of CO2
- Distillation (liquor and hydrocarbon industries)
- Washing (food industry)
- Chemical extraction
- Pasteurizing milk