GEG Practices Strong Social Responsibility During Project Development in India

GEG ehf.’s CRO Has Been Actively Involved in Stakeholder Engagement in the Kinnaur District of Northern India, Ensuring That Our Commitment to Complete Social Sustainability is Upheld Throughout Our Geothermal Cooling Project

Workshop with local stakeholders and experts, lead by GEG CRO Dr. Vijay Chauhan

31 May 2022 — GEG ehf. has been excited to announce the success and ongoing progress of our efforts in India. At the end of March this year, our Chief Research Officer (CRO) Dr. Vijay Chauhan completed the on-site survey and exploratory work for the GEG geothermal cold storage project located within the Kinnaur district.

This project’s main aim is to provide a long-term storage solution for local apple farmers to increase food security in the region, and to reduce the reliance on larger industry players.

Throughout the early on-site work, Dr. Chauhan worked closely with community members and local workers, even conducting a workshop on the project prior to the start of any survey work. Participants included local graduate students, farmers whom the project will directly affect and involve, and leading professionals within the tourism industry.

Carrying this focus on stakeholder engagement, Dr. Chauhan also participated in an interview with one of the leading social activists and teachers in Kinnaur during the final days of his on-site work.

(From left to right) Mr. Rahul Kavil Kirti Negi, Dr. Vijay Chauhan, and Mr. Rajeev Mehta

The interviewer, Mr. Rahul Kavil Kirti Negi, has amassed a strong sense of trust within the public and has garnered a good amount of support following his campaign on the environmental impact of hydroelectric power plant development in the area.

Interviewed alongside Dr. Chauhan was Mr. Rajeev Mehta, a local farmer and entrepreneur. Mr. Mehta has a high level of interest in and knowledge of renewable energy development, as he has a background in civil engineering and has been greatly involved in the growing tourism industry in Kinnaur. Mr. Mehta’s support of geothermal energy development in the region comes from his belief in its positive impacts overall.

Mr. Negi’s interview of Dr. Chauhan and Mr. Mehta primarily involved a discussion on the objective of geothermal energy development in the Kinnaur region, and its contribution to local economies – particularly within the agricultural sector. Dr. Chauhan explained how truly economical and environmentally sustainable development can be achieved by utilizing geothermal energy for direct use applications (ex: cooling, drying, and/or heating for homes).

The social sustainability of the development project increases in conjunction with how relevant these direct use applications are to the conditions and needs of the region. The interviewees also explain that there is a negligible land footprint with geothermal development as compared to that of the ongoing hydropower development in the region. Hydroelectric power development in Kinnaur has in fact been cause for significant environmental concerns among the local community.

Mountains in the Kinnaur district of Northern India

Increased public awareness through workshops and interviews like Mr. Negi’s has greatly helped GEG build a greater sense of support and trust in this project’s development among local communities. The full posting of the video (not in English) is included here, where comments and opinions from the public can also be seen.

Development projects like the one in Northern India are only as successful as their degree of social responsibility. Without the inclusion of and involvement of the nearby affected community, a project cannot be deemed truly “sustainable” – despite its positive environmental or ecological benefits.

This is a dedication held by GEG ehf. and a practice we plan on applying to all of our other ongoing as well as future geothermal developments.

As we move onto the next phase of our geothermal cooling project in India, new updates and insights will be accessible on our LinkedIn page as well as in the News page on our website.

New Chairman Appointed at GEG

Jordan Oxley, Managing Director of Energy Co-Invest Global (ECG) and Director of CINDRIGO LTD, has been officially appointed as the new Chairman of GEG ehf.

10 May 2022 — We are happy to share the news that Jordan Oxley, Managing Director of Energy Co-Invest Global (ECG) and Director of Cindrigo Ltd., has been officially appointed as the new Chairman of GEG ehf.! This news follows the acquisition of ECG by Cindrigo, ECG being the largest shareholder of GEG.

Jordan’s background as an energy developer and financier will bring on a highly relevant set of skills and innovative expertise to GEG.

“Mr. Oxley will place a special emphasis on international partnerships, including with project financiers and green bond issuers as well as critical OEMs and service providers. While significant attention will be devoted to the financing and build of GEG’s power plants, Mr. Oxley will also support GEG’s recent innovations such as direct use geothermal for cold storage and their highly efficient approach to geothermal asset management.”

Read the full announcement posted on the London Stock Exchange and on Cindrigo‘s website.

Follow us on LinkedIn for more updates!

GEG Awarded Highest Level of Green Certification from CICERO Green in Preparation for Bond Issuance

Based on the review performed by CICERO Green (CICERO) earlier this year, GEG Power’s green financing framework (GFF) was awarded Dark Green — the highest available rating!

CICERO also gave the company a governance score of “Good”. The framework was overall found to be in alignment with CICERO’s green bond and loan principles.

 

Now, GEG can move forward with its preparations for green bond issuing and financing, bolstered by its commitment to low environmental impacts and project-to-project LCA assessments.

See our full GFF CICERO second opinion document here as well as under our Governance page.

CICERO Shades of Green offers award-winning second opinions to give insight to investors on the environmental quality of green bonds. They were named the largest Green Bond SPO provider of 2019.

Interview With Our Chief Research Officer on GEG’s Direct Use Plans in India

This year, ThinkGeoenergy posted an eye-opening interview with GEG’s CRO, Dr. Vijay Chauhan, on our ongoing development plans for geothermal direct use in the Northern Himalayas region of India. This project will involve using geothermal cooling technology, or cold storage, powered by the low-temperature geothermal resources in the area.

This will allow for the longer-term storage of apples in the region for local farmers, strengthening their food security and therefore the social sustainability of the area. The GEG Cooling project is partly funded by the Icelandic Ministry of Foreign Affairs.

Watch ThinkGeoenergy’s interview with Dr. Chauhan below to learn more about this exciting and innovative project!

 

 

Be sure to follow GEG Power’s YouTube page for more updates and special features.

 

Iceland geothermal video features GEG plant

A recent video shared by Icelandic cooperation platform on climate issues and green solutions, Green by Ice­land, provides a good overview on geothermal energy in Iceland.

“Iceland has harnessed the potential of geothermal energy, heating 90% of its houses and producing 30% of its electricity with geothermal. Geothermal energy is very important in Iceland that relies 100% on renewables for both electricity and house heating.

The cascading use of geothermal was also pioneered in Iceland and has created new industries in Iceland through the circular economy mindset of making the most of each resource. Icelandic expertise in geothermal is also a valuable export product.”

… and we are proud to see one of our geothermal wellhead plants built in Kenya featured in the video.

Best wishes for the holidays and a successful new year

The team of GEG Power wishes you, your families and colleagues a happy holidays and best wishes for a successful new geothermal year.

This year’s picture shows a proud moment for our company, the new 5 MW Bjarnaflag geothermal power plant, built by GEG for Icelandic national power company Landsvirkjun.

The completion of this contract and our work is a milestone for GEG, as it was our first contract outside of Kenya. It has been an honour being trusted to put our geothermal expertise to work and particularly in Iceland, one of the leading countries in the geothermal sphere. With the successful delivery and set-up of a back-pressure unit, we have also expanded our solution offering for small-scale geothermal power plants beyond flash-based turbine-genset packages.

So you can trust there is more to come from us in the new year.